Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Binance against ApeX Omni+0.112%79s7-day average −0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$440.436% of the position

Long on ApeX Omni Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 3 days (all we have)−0.564%−$56 · spread now +0.112%, 7d avg −0.049%

Together, before fees−0.575%−$58 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: Binance is 0.162% dearer against ApeX Omni than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.049%. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PENGUUSDT	0.008657	0.0100	pay 0.0013% / 1h	50m 10s	$79K	$254K	50x
Short	Binance PENGUUSDT	0.008667	0.0100	get 0.0050% / 4h	2h 50m	$35.8M	$150.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against ApeX Omni. 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 ApeX OmnibpFee BinancebpOrdersPrice spread, now +0.112%Rate

Funding earned: $0
Price spread: +0.112% → −0.049%: $16.16
Slippage, 4 orders: −$23.63
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$27.47
Costs to cover: 0.436%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 36 min ago; Binance: live order book, 8 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 ApeX Omni live order book, 36 min ago	4.56 bp	11.6 bp −$12	97.1 bp −$971	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.58 bp	9.5 bp −$10	20.4 bp −$204	68.1 bp −$6,813	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
Kraken Futures PF_PENGUUSD	−0.0552%	1h	0.008668	+0.126%	$383K	$2.1M	50x	as long as short
Bybit PENGUUSDT	−0.0405%	4h	0.008660	+0.035%	$22.7M	$35.7M	75x	as long as short
Gate PENGU_USDT	−0.0362%	4h	0.008659	+0.023%	$3.4M	$15.3M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0326%	1h	0.008669	+0.139%	$19K	$9K	10x	as long as short
Backpack PENGU_USDC_PERP	−0.0280%	1h	0.008650	−0.081%	$309K	$317K	10x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.670%	$3K	$81K	5.5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008669	+0.139%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008670	+0.151%	$33K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0064%	1h	0.008669	+0.139%	$198	$59	5x	as long as short
Nado PENGU-PERP	+0.0078%	1h	0.008665	+0.092%	$672K	$759K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENGU	+0.0096%	1h	0.008667	+0.116%	$294K	$719K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008677	+0.231%	$8.7M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008669	+0.141%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008665	+0.092%	$142K	$232K	5x	as long as short
Binance PENGUUSDTshort	+0.0100%	4h	0.008667	+0.112%	$35.8M	$150.9M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008664	+0.081%	$7.7M	$46.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008670	+0.150%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008667	+0.116%	$12.7M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008664	+0.081%	$4.7M	$8.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008669	+0.139%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008665	+0.092%	—	$4.0M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008646	−0.132%	$794K	$712K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008682	+0.284%	$454K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDTlong	+0.0100%	1h	0.008657	long leg	$79K	$254K	50x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008668	+0.127%	$21K	$185K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008873	+2.495%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008665	+0.092%	$980	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008678	+0.243%	$91K	$248K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008663	+0.073%	$177K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008665	+0.092%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008665	+0.097%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008647	−0.116%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0489% / S −0.0675%	1h	0.008668	+0.127%	$108K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+2.842%	$94K	$97K	50x	as long as short