Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: GRVT against Binance−0.728%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$430.434% of the position

Long on Binance Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 7 days+0.745%+$74 · spread now −0.728%, 7d avg +0.003%

Together, before fees+0.703%+ Points / potential airdropGRVT: Active · farm board+$70 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: GRVT is 0.731% cheaper against Binance than usual: you would sell low and buy high, −$73 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENGUUSDT	0.008752	0.0100	pay 0.0050% / 4h	1h 43m	$36.7M	$159.5M	75x
Short	GRVT PENGU_USDT_Perp	0.008688	0.0100	get 0.0050% / 4h	1h 43m	$455K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.728%Rate

Funding earned: $0
Price spread: −0.728% → +0.003%: −$73.13
Slippage, 4 orders: −$24.38
Fee Binance: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$116.51
Costs to cover: 0.434%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; GRVT: live order book, 5 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, 15 min ago	0.57 bp	7.6 bp −$8	16.8 bp −$168	72.3 bp −$7,227	doesn't fit
Sell GRVT live order book, 5 min ago	2.29 bp	8.9 bp −$9	26.3 bp −$263	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
01 Exchange PENGUUSD	−0.0008%	1h	0.008742	−0.114%	$200	$64	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008757	+0.057%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008753	+0.007%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0026%	4h	0.008750	−0.023%	$3.4M	$15.6M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.423%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008745	−0.080%	$311K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008756	+0.046%	$23K	$165K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008745	−0.074%	$588K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008745	−0.080%	$8.1M	$14.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008743	−0.100%	$131K	$574K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008743	−0.103%	$154K	$243K	5x	as long as short
Binance PENGUUSDTlong	+0.0100%	4h	0.008752	long leg	$36.7M	$159.5M	75x
Bybit PENGUUSDT	+0.0100%	4h	0.008752	0.000%	$23.3M	$38.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008757	+0.057%	$7.5M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	−0.137%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008750	−0.023%	$11.6M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008740	−0.137%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008758	+0.069%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008745	−0.080%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008727	−0.286%	$299K	$275K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008701	−0.583%	$863K	$986K	—	as long as short
GRVT PENGU_USDT_Perpshort	+0.0100%	4h	0.008688	−0.728%	$455K	$2.0M	10x
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008710	−0.480%	$79K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008958	+2.354%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008758	+0.069%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008743	−0.103%	$91K	$348K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008757	+0.053%	$183K	$941K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008746	−0.069%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0210%	1h	0.008745	−0.078%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008746	−0.072%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008710	−0.480%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0582%	1h	0.008753	+0.011%	$119K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0649%	1h	0.008767	+0.168%	$359K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.457%	$95K	$94K	50x	as long as short