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 −0.020%

Price spread now: GRVT against ApeX Omni−0.028%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$600.600% of the position

Long on ApeX Omni Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.074%−$7 on $10k

Price spread, last 3 days (all we have)+0.007%+$1 · spread now −0.028%, 7d avg −0.067%

Together, before fees−0.068%+ Points / potential airdropGRVT: Active · farm board−$7 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 0.039% dearer against ApeX Omni than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PENGUUSDT	0.008670	0.0100	pay 0.0013% / 1h	44m 27s	$79K	$253K	50x
Short	GRVT PENGU_USDT_Perp	0.008668	0.0100	get 0.0050% / 4h	2h 44m	$453K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.028%Rate

Funding earned: $0
Price spread: −0.028% → −0.067%: $3.92
Slippage, 4 orders: −$41.01
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$56.09
Costs to cover: 0.600%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 42 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 ApeX Omni live order book, 42 min ago	4.56 bp	11.6 bp −$12	97.1 bp −$971	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	1.73 bp	18.0 bp −$18	46.6 bp −$466	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
Kraken Futures PF_PENGUUSD	−0.0552%	1h	0.008671	+0.014%	$384K	$2.1M	50x	as long as short
Gate PENGU_USDT	−0.0360%	4h	0.008661	−0.104%	$3.4M	$15.3M	75x	as long as short
Bybit PENGUUSDT	−0.0326%	4h	0.008660	−0.115%	$22.6M	$35.7M	75x	as long as short
Backpack PENGU_USDC_PERP	−0.0221%	1h	0.008664	−0.069%	$309K	$316K	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0211%	1h	0.008668	−0.023%	$19K	$9K	10x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.519%	$3K	$81K	5.5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008668	−0.023%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008671	+0.006%	$33K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0024%	1h	0.008666	−0.046%	$198	$59	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008662	−0.092%	$294K	$719K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0100%	1h	0.008664	−0.069%	$672K	$758K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008675	+0.058%	$8.7M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008671	+0.011%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008663	−0.081%	$142K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008665	−0.054%	$35.8M	$150.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008665	−0.058%	$7.7M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008670	0.000%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008666	−0.046%	$12.8M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008665	−0.058%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008671	+0.012%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008656	−0.161%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008657	−0.155%	$795K	$712K	—	as long as short
GRVT PENGU_USDT_Perpshort	+0.0100%	4h	0.008668	−0.028%	$453K	$2.4M	10x
ApeX Omni PENGUUSDTlong	+0.0100%	1h	0.008670	long leg	$79K	$253K	50x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008670	0.000%	$21K	$184K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008871	+2.318%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008666	−0.046%	$981	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008680	+0.115%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008665	−0.057%	$177K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008665	−0.058%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008667	−0.037%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008664	−0.069%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0490% / S −0.0675%	1h	0.008669	−0.012%	$108K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+2.687%	$94K	$97K	50x	as long as short