Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.036%

Price spread now: Gate against Aevo+0.137%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$1021.023% of the position

Long on Aevo Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.120%−$12 on $10k

Price spread, last 4 days (all we have)−0.124%−$12 · spread now +0.137%, 7d avg +0.016%

Together, before fees−0.244%−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.121% dearer against Aevo than usual: you sell high and buy low (spread +0.137% now, against its 7-day average of +0.016%): +$12 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENGU-PERP	0.008776	0.0104	pay 0.0013% / 1h	19m 11s	$203K	—	3x
Short	Gate PENGU_USDT	0.008788	0	get 0.0000% / 4h	1h 19m	$3.3M	$15.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Aevo. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AevobpFee GatebpOrdersPrice spread, now +0.137%Rate

Funding earned: −$21.84
Price spread: +0.137% → +0.016%: $12.12
Slippage, 4 orders: −$71.28
Fee Aevo: 8 bp × 2 orders: −$16
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$112
Costs to cover: 1.023%
Break-even: never at this rate

Slippage from Aevo: live order book, 45 min ago; Gate: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Aevo live order book, 45 min ago	11.36 bp	46.4 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	1.14 bp	17.7 bp −$18	48.6 bp −$486	doesn't fit	doesn't fit

PENGU on 34 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange PENGUUSD	−0.0040%	1h	0.008803	+0.308%	$201	$64	5x	as long as short
Gate PENGU_USDTshort	0.0000%	4h	0.008788	+0.137%	$3.3M	$15.7M	75x
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008785	+0.103%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008790	+0.157%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.148%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008788	+0.137%	$313K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008786	+0.114%	$23K	$165K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008796	+0.228%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008796	+0.223%	$121K	$578K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008799	+0.262%	$155K	$243K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008785	+0.100%	$36.7M	$160.4M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008780	+0.046%	$23.3M	$38.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008780	+0.046%	$7.4M	$46.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	+0.273%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008786	+0.114%	$11.4M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008786	+0.114%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008787	+0.125%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008782	+0.068%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008799	+0.262%	$300K	$293K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008794	+0.204%	$874K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008777	+0.010%	$458K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008800	+0.273%	$80K	$243K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008790	+0.165%	$590K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009009	+2.655%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008781	+0.057%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008800	+0.273%	$92K	$354K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008779	+0.031%	$185K	$945K	10x	as long as short
Aevo PENGU-PERPlong	+0.0104%	1h	0.008776	long leg	$203K	—	3x
dYdX PENGU-USD	+0.0228%	1h	0.008800	+0.276%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008791	+0.170%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008768	−0.091%	$1.5M	$3.5M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0556% / S −0.0662%	1h	0.008788	+0.137%	$132K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0647%	1h	0.008790	+0.164%	$352K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.176%	$95K	$94K	50x	as long as short