Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.002%

Price spread now: GRVT against Aevo+0.102%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$111as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$1051.049% of the position

Long on Aevo Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 4 days (all we have)−0.140%−$14 · spread now +0.102%, 7d avg +0.020%

Together, before fees−0.199%+ Points / potential airdropGRVT: Active · farm board−$20 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.081% dearer against Aevo than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENGU-PERP	0.008858	0.0104	pay 0.0013% / 1h	52m 44s	$205K	—	3x
Short	GRVT PENGU_USDT_Perp	0.008867	0.0100	get 0.0050% / 4h	52m 44s	$468K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.102%Rate

Funding earned: −$0.84
Price spread: +0.102% → +0.020%: $8.12
Slippage, 4 orders: −$79.87
Fee Aevo: 8 bp × 2 orders: −$16
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$97.59
Costs to cover: 1.049%
Break-even: never at this rate

Slippage from Aevo: live order book, 54 min ago; GRVT: 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, 54 min ago	16.58 bp	40.3 bp −$40	228.0 bp −$2,280	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	1.69 bp	8.3 bp −$8	21.8 bp −$218	doesn't fit	doesn't fit

PENGU on 34 exchanges

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
dYdX PENGU-USD	0.0000%	1h	0.008853	−0.055%	$19K	$21K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008860	+0.023%	$1K	$27K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008856	−0.022%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.779%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008860	+0.023%	$317K	$719K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008861	+0.034%	$8.5M	$17.5M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008859	+0.014%	$110K	$833K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008857	−0.011%	$132K	$221K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008857	−0.013%	$38.0M	$197.4M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008850	−0.090%	$23.8M	$47.8M	75x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008860	+0.023%	$8.3M	$56.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008860	+0.023%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008859	+0.011%	$3.6M	$18.2M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008855	−0.034%	$12.1M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008857	−0.011%	$5.3M	$10.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008861	+0.034%	$8.5M	$13.9M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008850	−0.090%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008857	−0.011%	$296K	$392K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008859	+0.013%	$877K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perpshort	+0.0100%	4h	0.008867	+0.102%	$468K	$2.1M	10x
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008873	+0.169%	$80K	$247K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008849	−0.107%	$600K	$1.1M	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008858	0.000%	$23K	$357K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009059	+2.269%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008859	+0.011%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008873	+0.169%	$92K	$360K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008857	−0.006%	$179K	$741K	10x	as long as short
Aevo PENGU-PERPlong	+0.0104%	1h	0.008858	long leg	$205K	—	3x
01 Exchange PENGUUSD	+0.0160%	1h	0.008851	−0.079%	$202	$141	5x	as long as short
Reya PENGURUSDPERP	+0.0242%	1h	0.008846	−0.132%	$299	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0260%	1h	0.008866	+0.088%	$337K	$2.7M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008852	−0.068%	$1.6M	$5.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0429% / S −0.0359%	1h	0.008852	−0.068%	$103K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1760%	1h	0.008982	+1.400%	$82K	$89K	50x	as long as short