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: HTX against Binance+0.238%7-day average +0.288% · you sell dearer than you buy

Net, funding: paid 7d − costs−$196as in the Funding arb table

Net, price: spread back to 7d avg − costs−$225as in the Price arb table

costs, in and out, $10k−$2202.202% of the position

Long on Binance Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.237%+$24 on $10k

Price spread, last 3 days (all we have)+0.056%+$6 · spread now +0.238%, 7d avg +0.288%

Together, before fees+0.293%+$29 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: HTX is 0.050% cheaper against Binance than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.288%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENGUUSDT	0.008658	0.0100	pay 0.0050% / 4h	2h 30m	$35.8M	$151.0M	75x
Short	HTX PENGU-USDT	0.008679	0.0100	get 0.0050% / 4h	2h 30m	$91K	$249K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.238%Rate

Funding earned: $0
Price spread: +0.238% → +0.288%: −$5.04
Slippage, 4 orders: −$198.19
Fee Binance: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$225.23
Costs to cover: 2.202%
Break-even: never at this rate

Slippage from Binance: live order book, 13 min ago; HTX: live order book, 56 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, 13 min ago	0.58 bp	10.4 bp −$10	20.3 bp −$203	73.0 bp −$7,301	doesn't fit
Sell HTX live order book, 56 min ago	9.10 bp	185.6 bp −$186	doesn't fit	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	−0.0552%	1h	0.008664	+0.068%	$384K	$2.1M	50x	as long as short
Gate PENGU_USDT	−0.0364%	4h	0.008659	+0.007%	$3.4M	$15.4M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0212%	1h	0.008662	+0.042%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0156%	4h	0.008650	−0.097%	$22.4M	$35.9M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.654%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0064%	1h	0.008670	+0.134%	$309K	$315K	10x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008674	+0.176%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008665	+0.072%	$33K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0016%	1h	0.008666	+0.088%	$198	$59	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008659	+0.007%	$294K	$720K	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	0.008662	+0.039%	$672K	$758K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008671	+0.146%	$8.7M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008669	+0.123%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008665	+0.076%	$142K	$232K	5x	as long as short
Binance PENGUUSDTlong	+0.0100%	4h	0.008658	long leg	$35.8M	$151.0M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008655	−0.039%	$7.7M	$46.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008660	+0.019%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008664	+0.065%	$12.8M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008662	+0.042%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008662	+0.042%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008659	+0.007%	—	$3.9M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008663	+0.055%	$793K	$713K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008672	+0.156%	$454K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008664	+0.065%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008663	+0.053%	$21K	$184K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008875	+2.502%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008658	−0.005%	$976	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.008679	+0.238%	$91K	$249K	25x
Extended PENGU-USD	+0.0104%	1h	0.008655	−0.043%	$177K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008657	−0.016%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008661	+0.028%	$292	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008671	+0.146%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0489% / S −0.0675%	1h	0.008663	+0.053%	$108K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008785	+1.462%	$92K	$96K	50x	as long as short