Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: HTX against Aevo+0.263%7-day average +0.303% · you sell dearer than you buy

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1431.425% of the position

Long on Aevo Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.211%+$21 on $10k

Price spread, last 4 days (all we have)+0.004%$0 · spread now +0.263%, 7d avg +0.303%

Together, before fees+0.215%+$21 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: HTX is 0.040% cheaper against Aevo than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.303%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENGU-PERP	0.008760	0.0104	pay 0.0013% / 1h	13m 45s	$202K	—	3x
Short	HTX PENGU-USDT	0.008783	0.0100	get 0.0050% / 4h	1h 13m	$92K	$354K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.263%Rate

Funding earned: −$0.84
Price spread: +0.263% → +0.303%: −$4.03
Slippage, 4 orders: −$114.52
Fee Aevo: 8 bp × 2 orders: −$16
Fee HTX: 6 bp × 2 orders: −$12
Net: −$147.39
Costs to cover: 1.425%
Break-even: never at this rate

Slippage from Aevo: live order book, 50 min ago; HTX: live order book, 49 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, 50 min ago	11.36 bp	46.4 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 49 min ago	14.73 bp	24.0 bp −$24	doesn't fit	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	0.008766	+0.068%	$201	$64	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008763	+0.034%	$18K	$10K	10x	as long as short
Gate PENGU_USDT	+0.0004%	4h	0.008760	0.000%	$3.3M	$15.7M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008762	+0.019%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.331%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008765	+0.057%	$312K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008764	+0.046%	$23K	$164K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008766	+0.074%	$587K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008761	+0.011%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008765	+0.063%	$121K	$579K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008768	+0.091%	$154K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008768	+0.091%	$36.6M	$160.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008766	+0.068%	$23.2M	$38.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008765	+0.057%	$7.3M	$46.6M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008770	+0.114%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008771	+0.126%	$11.4M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008764	+0.046%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008765	+0.057%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008758	−0.023%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008764	+0.046%	$299K	$293K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008785	+0.283%	$873K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008782	+0.250%	$458K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008782	+0.251%	$80K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008981	+2.523%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008760	0.000%	$1K	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.008783	+0.263%	$92K	$354K	25x
Extended PENGU-USD	+0.0104%	1h	0.008758	−0.027%	$185K	$945K	10x	as long as short
Aevo PENGU-PERPlong	+0.0104%	1h	0.008760	long leg	$202K	—	3x
dYdX PENGU-USD	+0.0229%	1h	0.008769	+0.100%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008759	−0.015%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008773	+0.148%	$1.5M	$3.5M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0555% / S −0.0662%	1h	0.008761	+0.011%	$131K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0649%	1h	0.008771	+0.126%	$352K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.363%	$95K	$90K	50x	as long as short