Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Binance−0.056%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$390.385% of the position

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now −0.056%, 7d avg −0.039%

Together, before fees+0.018%+ Points / potential airdropExtended: Active · farm board+$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENGUUSDT	0.008803	0.0100	pay 0.0050% / 4h	2h 31m	$37.6M	$157.4M	75x
Short	Extended PENGU-USD	0.008798	0.0104	get 0.0013% / 1h	31m 32s	$181K	$939K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.056%Rate

Funding earned: $0.84
Price spread: −0.056% → −0.039%: −$1.65
Slippage, 4 orders: −$23.53
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$39.34
Costs to cover: 0.385%
Break-even: 334.8 days

Slippage from Binance: live order book, 12 min ago; Extended: live order book, 37 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	6.9 bp −$7	19.5 bp −$195	77.2 bp −$7,719	doesn't fit
Sell Extended live order book, 37 min ago	1.68 bp	10.6 bp −$11	45.8 bp −$458	doesn't fit	doesn't fit

PENGU on 33 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
Variational Omni PENGU	−0.0010%	4h	0.008770	−0.369%	$872K	$1.0M	—	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008812	+0.107%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008809	+0.076%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0010%	4h	0.008796	−0.075%	$3.4M	$15.5M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.155%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0072%	1h	0.008803	+0.004%	$201	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008804	+0.016%	$311K	$707K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008810	+0.084%	$19K	$168K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008817	+0.163%	$594K	$991K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008803	+0.004%	$8.3M	$14.9M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008801	−0.017%	$143K	$506K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008798	−0.052%	$155K	$245K	5x	as long as short
Binance PENGUUSDTlong	+0.0100%	4h	0.008803	long leg	$37.6M	$157.4M	75x
Bybit PENGUUSDT	+0.0100%	4h	0.008796	−0.075%	$23.0M	$38.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008798	−0.052%	$7.5M	$47.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	−0.030%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008798	−0.052%	$12.0M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008803	+0.004%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008803	+0.004%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008798	−0.052%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008803	+0.004%	$302K	$313K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008784	−0.215%	$470K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008802	−0.007%	$80K	$248K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009025	+2.526%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008809	+0.073%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008823	+0.232%	$94K	$337K	25x	as long as short
Extended PENGU-USDshort	+0.0104%	1h	0.008798	−0.056%	$181K	$939K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008804	+0.016%	$203K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008818	+0.171%	$363K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008815	+0.136%	$298	—	10x	as long as short
dYdX PENGU-USD	+0.0247%	1h	0.008802	−0.006%	$12K	$4K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0513% / S −0.0708%	1h	0.008812	+0.107%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.868%	$95K	$100K	50x	as long as short