Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aevo against Binance−0.023%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1261.259% of the position

Long on Binance Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$2 on $10k

Price spread, last 3 days (all we have)+0.116%+$12 · spread now −0.023%, 7d avg −0.017%

Together, before fees+0.141%+$14 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENGUUSDT	0.008673	0.0100	pay 0.0050% / 4h	2h 57m	$35.9M	$150.9M	75x
Short	Aevo PENGU-PERP	0.008671	0.0104	get 0.0013% / 1h	57m 25s	$200K	$17K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Binance. 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 BinancebpFee AevobpOrdersPrice spread, now −0.023%Rate

Funding earned: $0.84
Price spread: −0.023% → −0.017%: −$0.56
Slippage, 4 orders: −$99.86
Fee Binance: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$125.58
Costs to cover: 1.259%
Break-even: 1053.5 days

Slippage from Binance: live order book, 16 min ago; Aevo: live order book, 31 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 Binance live order book, 16 min ago	0.58 bp	7.5 bp −$7	19.0 bp −$190	73.7 bp −$7,375	doesn't fit
Sell Aevo live order book, 31 min ago	17.09 bp	52.3 bp −$52	313.3 bp −$3,133	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	−0.0551%	1h	0.008682	+0.106%	$384K	$2.2M	50x	as long as short
Backpack PENGU_USDC_PERP	−0.0433%	1h	0.008670	−0.035%	$310K	$324K	10x	as long as short
Bybit PENGUUSDT	−0.0343%	4h	0.008665	−0.092%	$22.8M	$35.6M	75x	as long as short
Gate PENGU_USDT	−0.0318%	4h	0.008666	−0.081%	$3.4M	$15.3M	75x	as long as short
01 Exchange PENGUUSD	−0.0144%	1h	0.008673	0.000%	$198	$59	5x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.484%	$3K	$81K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0096%	1h	0.008674	+0.012%	$21K	$8K	10x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008682	+0.104%	$11K	$5K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008675	+0.020%	$33K	—	150x	as long as short
Lighter PENGU	+0.0096%	1h	0.008674	+0.012%	$294K	$718K	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	0.008672	−0.012%	$674K	$766K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008681	+0.092%	$8.7M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008678	+0.056%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008672	−0.012%	$143K	$232K	5x	as long as short
Binance PENGUUSDTlong	+0.0100%	4h	0.008673	long leg	$35.9M	$150.9M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008670	−0.035%	$7.7M	$46.6M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008670	−0.035%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008673	0.000%	$12.8M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008674	+0.012%	$4.8M	$8.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008675	+0.023%	$8.1M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008667	−0.069%	—	$4.0M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008738	+0.745%	$802K	$708K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008703	+0.346%	$455K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008712	+0.450%	$79K	$254K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008673	0.000%	$21K	$185K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008878	+2.364%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008676	+0.035%	$982	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008714	+0.473%	$91K	$248K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008667	−0.074%	$178K	$681K	10x	as long as short
Aevo PENGU-PERPshort	+0.0104%	1h	0.008671	−0.023%	$200K	$17K	3x
Reya PENGURUSDPERP	+0.0237%	1h	0.008672	−0.008%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008711	+0.438%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0489% / S −0.0675%	1h	0.008674	+0.012%	$109K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+2.652%	$94K	$97K	50x	as long as short