Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Binance−0.180%7-day average −0.085% · 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−$57as in the Price arb table

costs, in and out, $10k−$480.476% of the position

Long on Binance Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 7 days+0.074%+$7 · spread now −0.180%, 7d avg −0.085%

Together, before fees+0.097%+$10 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: BingX is 0.095% cheaper against Binance than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENGUUSDT	0.008682	0.0100	pay 0.0050% / 4h	2h 14m	$35.9M	$151.2M	75x
Short	BingX PENGU-USDC	0.008666	0.0100	get 0.0050% / 4h	2h 14m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.180%Rate

Funding earned: $0
Price spread: −0.180% → −0.085%: −$9.49
Slippage, 4 orders: −$27.58
Fee Binance: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$57.07
Costs to cover: 0.476%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; BingX: 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 Binance live order book, 14 min ago	0.58 bp	10.3 bp −$10	20.9 bp −$209	75.0 bp −$7,499	doesn't fit
Sell BingX live order book, 3 min ago	1.73 bp	10.7 bp −$11	52.1 bp −$521	446.6 bp −$44.7K	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	0.008684	+0.027%	$385K	$2.1M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0326%	1h	0.008679	−0.030%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0258%	4h	0.008677	−0.053%	$3.4M	$15.4M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.385%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0014%	1h	0.008677	−0.053%	$309K	$314K	10x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008685	+0.037%	$11K	$4K	5x	as long as short
01 Exchange PENGUUSD	0.0000%	1h	0.008684	+0.028%	$199	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008681	−0.001%	$33K	—	150x	as long as short
Bybit PENGUUSDT	+0.0047%	4h	0.008672	−0.111%	$22.5M	$36.0M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008684	+0.028%	$297K	$723K	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	0.008679	−0.027%	$674K	$756K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008686	+0.051%	$8.7M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008688	+0.069%	$172K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008684	+0.028%	$146K	$236K	5x	as long as short
Binance PENGUUSDTlong	+0.0100%	4h	0.008682	long leg	$35.9M	$151.2M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008678	−0.041%	$7.7M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008680	−0.018%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008682	+0.005%	$12.8M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008683	+0.016%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008686	+0.051%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDCshort	+0.0100%	4h	0.008666	−0.180%	—	$2.3M	—
Variational Omni PENGU	+0.0100%	4h	0.008675	−0.075%	$797K	$715K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008682	+0.008%	$454K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008689	+0.085%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008680	−0.018%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008889	+2.389%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008677	−0.053%	$991	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008698	+0.189%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008678	−0.045%	$179K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008675	−0.076%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008675	−0.074%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008671	−0.122%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0703%	1h	0.008681	−0.007%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008728	+0.534%	$94K	$97K	50x	as long as short