Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.020%

Price spread now: Variational Omni against Arcus+0.158%7-day average — · you sell dearer than you buy

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

Long on Arcus Short on Variational Omni

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.158% dearer against Arcus than usual: you sell high and buy low, +$16 on $10k if it goes back to zero (this spread has no 7-day history yet).

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	17m 55s	$19K	$24K	5x
Short	Variational Omni PENGU	0.008794	0.0100	get 0.0050% / 4h	1h 17m	$874K	$985K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.158%Rate

Funding earned: $0
Price spread: +0.158% → 0.000%: $15.8
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $11.3
Costs to cover: 0.045%
Break-even: from the start

Slippage unknown: Arcus: no order-book sample; Variational Omni: RFQ quote, 46 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 Variational Omni RFQ quote, 46 min ago	3.41 bp	doesn't fit	22.7 bp −$227	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
Deribit PENGU_USDC-PERPETUAL	−0.0092%	1h	0.008764	−0.182%	$18K	$10K	10x	as long as short
01 Exchange PENGUUSD	−0.0040%	1h	0.008777	−0.034%	$201	$64	5x	as long as short
Gate PENGU_USDT	−0.0002%	4h	0.008765	−0.171%	$3.3M	$15.7M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008766	−0.156%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.103%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008771	−0.103%	$312K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008766	−0.159%	$23K	$165K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008772	−0.091%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008769	−0.121%	$121K	$578K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008779	−0.011%	$154K	$243K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008772	−0.091%	$36.6M	$160.4M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008768	−0.137%	$23.2M	$38.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008771	−0.103%	$7.4M	$46.6M	50x	as long as short
Arcus PENGU-USDlong	+0.0100%	1h	0.008780	long leg	$19K	$24K	5x
MEXC PENGU_USDT	+0.0100%	4h	0.008772	−0.091%	$11.4M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008775	−0.057%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008776	−0.046%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008769	−0.125%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008766	−0.159%	$299K	$293K	10x	as long as short
Variational Omni PENGUshort	+0.0100%	4h	0.008794	+0.158%	$874K	$985K	—
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008777	−0.035%	$458K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008800	+0.228%	$80K	$243K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008772	−0.091%	$588K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008974	+2.210%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008762	−0.205%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008796	+0.182%	$92K	$354K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008771	−0.105%	$185K	$945K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008757	−0.262%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0224%	1h	0.008783	+0.031%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008769	−0.130%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008768	−0.137%	$1.5M	$3.5M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0555% / S −0.0662%	1h	0.008764	−0.182%	$132K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0648%	1h	0.008773	−0.080%	$351K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.130%	$95K	$94K	50x	as long as short