Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: OKX against ApeX Omni−0.408%7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$500.502% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 3 days (all we have)+0.253%+$25 · spread now −0.408%, 7d avg −0.050%

Together, before fees+0.200%+$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: OKX is 0.358% cheaper against ApeX Omni than usual: you would sell low and buy high, −$36 on $10k if it goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PENGUUSDT	0.008831	0.0100	pay 0.0013% / 1h	35m 20s	$80K	$253K	50x
Short	OKX PENGU-USDT-SWAP	0.008795	0.0100	get 0.0050% / 4h	1h 35m	$7.7M	$47.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.408%Rate

Funding earned: $0
Price spread: −0.408% → −0.050%: −$35.82
Slippage, 4 orders: −$30.22
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$86.04
Costs to cover: 0.502%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 46 min ago; OKX: live order book, 3 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, 46 min ago	7.46 bp	14.6 bp −$15	112.8 bp −$1,128	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.57 bp	9.7 bp −$10	24.5 bp −$245	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	−0.0606%	1h	0.008793	−0.431%	$370K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0328%	4h	0.008793	−0.430%	$3.5M	$15.5M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0205%	1h	0.008795	−0.408%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0125%	4h	0.008792	−0.442%	$22.8M	$36.2M	75x	as long as short
01 Exchange PENGUUSD	−0.0080%	1h	0.008794	−0.419%	$201	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008802	−0.331%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	−1.314%	$3K	$81K	5.5x	as long as short
Variational Omni PENGU	+0.0054%	4h	0.008794	−0.413%	$836K	$768K	—	as long as short
Lighter PENGU	+0.0096%	1h	0.008788	−0.487%	$308K	$735K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008798	−0.374%	$681K	$757K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008805	−0.294%	$8.7M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008796	−0.391%	$174K	$466K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008791	−0.453%	$151K	$238K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008797	−0.382%	$36.5M	$152.3M	75x	as long as short
OKX PENGU-USDT-SWAPshort	+0.0100%	4h	0.008795	−0.408%	$7.7M	$47.1M	50x
Arcus PENGU-USD	+0.0100%	1h	0.008790	−0.464%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008800	−0.351%	$12.9M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008798	−0.374%	$4.8M	$8.8M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008801	−0.340%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008797	−0.385%	—	$3.9M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008782	−0.555%	$313K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008802	−0.327%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDTlong	+0.0100%	1h	0.008831	long leg	$80K	$253K	50x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008802	−0.328%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009005	+1.970%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008787	−0.498%	$998	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008813	−0.204%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008784	−0.532%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008795	−0.408%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0130%	1h	0.008792	−0.442%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008800	−0.349%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008805	−0.294%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0711%	1h	0.008801	−0.340%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	+1.291%	$95K	$105K	50x	as long as short