Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Binance−0.421%69s7-day average +0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.459% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.006%+$1 on $10k

Price spread, last 3 days (all we have)+0.510%+$51 · spread now −0.421%, 7d avg +0.050%

Together, before fees+0.515%+$52 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: ApeX Omni is 0.471% cheaper against Binance than usual: you would sell low and buy high, −$47 on $10k if it goes back to its 7-day average of +0.050%. The two prices were read 69 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENGUUSDT	0.008925	0.0100	pay 0.0050% / 4h	3h 16m	$37.5M	$155.4M	75x
Short	ApeX Omni PENGUUSDT	0.008887	0.0100	get 0.0013% / 1h	16m 20s	$81K	$255K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now −0.421%Rate

Funding earned: $0
Price spread: −0.421% → +0.050%: −$47.14
Slippage, 4 orders: −$25.89
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$93.03
Costs to cover: 0.459%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; ApeX Omni: live order book, 55 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, 12 min ago	0.57 bp	7.6 bp −$8	15.7 bp −$157	70.7 bp −$7,069	doesn't fit
Sell ApeX Omni live order book, 55 min ago	5.75 bp	14.2 bp −$14	110.1 bp −$1,101	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	−0.0389%	1h	0.008880	−0.503%	$371K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0348%	4h	0.008921	−0.040%	$3.5M	$15.8M	75x	as long as short
01 Exchange PENGUUSD	−0.0208%	1h	0.008909	−0.175%	$204	$59	5x	as long as short
Variational Omni PENGU	−0.0171%	4h	0.008882	−0.477%	$913K	$970K	—	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008869	−0.623%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008926	+0.011%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.520%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0081%	1h	0.008896	−0.317%	$12K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008901	−0.265%	$309K	$730K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008935	+0.116%	$24K	$175K	20x	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	0.008906	−0.211%	$705K	$766K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008912	−0.141%	$8.3M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008905	−0.223%	$191K	$465K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008896	−0.321%	$153K	$240K	5x	as long as short
Binance PENGUUSDTlong	+0.0100%	4h	0.008925	long leg	$37.5M	$155.4M	75x
Bybit PENGUUSDT	+0.0100%	4h	0.008925	+0.004%	$23.4M	$37.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008931	+0.072%	$7.7M	$48.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008900	−0.276%	$20K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008919	−0.063%	$13.1M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008916	−0.096%	$4.8M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008916	−0.096%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008923	−0.018%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008874	−0.567%	$305K	$323K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008865	−0.663%	$470K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDTshort	+0.0100%	1h	0.008887	−0.421%	$81K	$255K	50x
SunX PENGU-USDT	+0.0100%	4h	0.009078	+1.719%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008867	−0.646%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008882	−0.477%	$91K	$300K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008900	−0.280%	$183K	$935K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008934	+0.105%	$206K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008912	−0.138%	$301	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008882	−0.477%	$1.5M	$2.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0521% / S −0.0723%	1h	0.008926	+0.016%	$118K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008967	+0.475%	$95K	$104K	50x	as long as short