Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: SunX against Aevo+2.449%7-day average +2.729% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Aevo Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now +2.449%, 7d avg +2.729%

Together, before fees+0.033%+$3 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: SunX is 0.280% cheaper against Aevo than usual: you would sell low and buy high, −$28 on $10k if it goes back to its 7-day average of +2.729%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENGU-PERP	0.008738	0.0104	pay 0.0013% / 1h	38m 54s	$202K	—	3x
Short	SunX PENGU-USDT	0.008952	0.0100	get 0.0050% / 4h	2h 38m	$3K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +2.449%Rate

Funding earned: −$0.84
Price spread: +2.449% → +2.729%: −$28.02
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee SunX: 4 bp × 2 orders: −$8
Net: −$52.86
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Aevo: live order book, 10 min ago; SunX: live order book, 7 min ago. Net counts fees only.

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, 10 min ago	68.10 bp	83.7 bp −$84	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	248.90 bp	doesn't fit	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008739	+0.012%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.584%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0093%	1h	0.008748	+0.114%	$17K	$12K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008746	+0.092%	$317K	$750K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008737	−0.011%	$586K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008750	+0.137%	$8.0M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008753	+0.172%	$120K	$667K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008735	−0.034%	$132K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008757	+0.221%	$36.9M	$176.2M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008753	+0.172%	$23.2M	$41.7M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008757	+0.217%	$7.5M	$50.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008730	−0.092%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008742	+0.046%	$3.3M	$16.4M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008760	+0.252%	$10.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008754	+0.183%	$4.9M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008761	+0.263%	$8.4M	$13.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008741	+0.034%	—	$3.7M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008739	+0.011%	$289K	$339K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008744	+0.070%	$913K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008738	+0.006%	$457K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008755	+0.195%	$79K	$251K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008743	+0.057%	$22K	$155K	20x	as long as short
SunX PENGU-USDTshort	+0.0100%	4h	0.008952	+2.449%	$3K	$2.1M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.008743	+0.057%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008759	+0.240%	$91K	$387K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008755	+0.192%	$180K	$869K	10x	as long as short
Aevo PENGU-PERPlong	+0.0104%	1h	0.008738	long leg	$202K	—	3x
dYdX PENGU-USD	+0.0167%	1h	0.008729	−0.101%	$12K	$6K	5x	as long as short
01 Exchange PENGUUSD	+0.0184%	1h	0.008735	−0.034%	$200	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008740	+0.027%	$295	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0323%	1h	0.008748	+0.119%	$320K	$2.4M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008735	−0.034%	$1.5M	$4.2M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0497% / S −0.0413%	1h	0.008739	+0.011%	$125K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008812	+0.847%	$78K	$76K	50x	as long as short