Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0538%/8h= −58.9% APRpaid last 24h −0.035%

Price spread now: Gate against Arcus−0.046%7-day average — · you buy dearer than you sell

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

Long on Arcus Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Gate is 0.046% cheaper against Arcus than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus PENGU-USD	0.008780	0.0100	pay 0.0013% / 1h	44m 13s	$19K	$24K	5x
Short	Gate PENGU_USDT	0.008776	−0.0438	pay 0.0219% / 4h	3h 44m	$3.4M	$15.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Arcus. 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 ArcusbpFee GatebpOrdersPrice spread, now −0.046%Rate

Funding earned: −$112.98
Price spread: −0.046% → 0.000%: −$4.56
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$137.04
Costs to cover: 0.195%
Break-even: never at this rate

Slippage unknown: Arcus: no order-book sample; Gate: live order book, 4 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 Arcus no order-book sample	—	—	—	—	—
Sell Gate live order book, 4 min ago	2.85 bp	17.9 bp −$18	50.9 bp −$509	doesn't fit	doesn't fit

Arcus: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Gate PENGU_USDTshort	−0.0438%	4h	0.008776	−0.046%	$3.4M	$15.5M	75x
Deribit PENGU_USDC-PERPETUAL	−0.0433%	1h	0.008775	−0.057%	$18K	$10K	10x	as long as short
Kraken Futures PF_PENGUUSD	−0.0393%	1h	0.008787	+0.081%	$368K	$2.3M	50x	as long as short
Variational Omni PENGU	−0.0298%	4h	0.008761	−0.215%	$867K	$931K	—	as long as short
Bybit PENGUUSDT	−0.0261%	4h	0.008774	−0.068%	$22.9M	$37.2M	75x	as long as short
01 Exchange PENGUUSD	−0.0232%	1h	0.008779	−0.011%	$201	$59	5x	as long as short
Backpack PENGU_USDC_PERP	−0.0065%	1h	0.008797	+0.194%	$309K	$311K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0006%	4h	0.008775	−0.056%	$465K	$2.1M	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008782	+0.025%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.103%	$3K	$117K	5.5x	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	+0.0047%	1h	0.008777	−0.034%	$696K	$778K	5x	as long as short
dYdX PENGU-USD	+0.0069%	1h	0.008800	+0.229%	$12K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008781	+0.011%	$307K	$727K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008780	0.000%	$23K	$184K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008779	−0.011%	$8.2M	$15.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008787	+0.076%	$188K	$481K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008789	+0.103%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008780	0.000%	$36.7M	$155.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008784	+0.046%	$7.6M	$47.2M	50x	as long as short
Arcus PENGU-USDlong	+0.0100%	1h	0.008780	long leg	$19K	$24K	5x
MEXC PENGU_USDT	+0.0100%	4h	0.008778	−0.023%	$12.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008782	+0.023%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008778	−0.023%	$8.4M	$12.8M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008777	−0.034%	—	$3.9M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008781	+0.011%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008982	+2.301%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008776	−0.046%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008800	+0.228%	$90K	$298K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008775	−0.058%	$181K	$771K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008770	−0.114%	$203K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008776	−0.045%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008790	+0.114%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0498% / S −0.0683%	1h	0.008782	+0.023%	$111K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008808	+0.319%	$94K	$103K	50x	as long as short