Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aevo against BingX−0.046%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$980.980% of the position

Long on BingX Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 3 days (all we have)+0.097%+$10 · spread now −0.046%, 7d avg +0.023%

Together, before fees+0.100%+$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: Aevo is 0.069% cheaper against BingX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENGU-USDC	0.008679	0.0100	pay 0.0050% / 4h	2h 15m	—	$2.3M	—
Short	Aevo PENGU-PERP	0.008675	0.0104	get 0.0013% / 1h	15m 55s	$200K	$17K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against BingX. 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 BingXbpFee AevobpOrdersPrice spread, now −0.046%Rate

Funding earned: $0.84
Price spread: −0.046% → +0.023%: −$6.87
Slippage, 4 orders: −$72.05
Fee BingX: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$104.08
Costs to cover: 0.980%
Break-even: 874.3 days

Slippage from BingX: live order book, 2 min ago; Aevo: live order book, 8 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 BingX live order book, 2 min ago	1.73 bp	17.6 bp −$18	55.7 bp −$557	417.3 bp −$41.7K	1034.6 bp −$517.3K
Sell Aevo live order book, 8 min ago	11.49 bp	30.9 bp −$31	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	−0.0551%	1h	0.008681	+0.029%	$385K	$2.1M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0326%	1h	0.008678	−0.012%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0262%	4h	0.008674	−0.058%	$3.4M	$15.4M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.415%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0005%	1h	0.008675	−0.046%	$309K	$314K	10x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008692	+0.147%	$11K	$4K	5x	as long as short
01 Exchange PENGUUSD	0.0000%	1h	0.008683	+0.046%	$199	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008682	+0.032%	$33K	—	150x	as long as short
Bybit PENGUUSDT	+0.0044%	4h	0.008668	−0.127%	$22.5M	$36.0M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008678	−0.012%	$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
Hyperliquid PENGU	+0.0100%	1h	0.008682	+0.035%	$8.7M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008681	+0.022%	$172K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008684	+0.058%	$146K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008676	−0.035%	$35.9M	$151.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008673	−0.069%	$7.7M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008680	+0.012%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008675	−0.046%	$12.8M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008677	−0.023%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008680	+0.012%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDClong	+0.0100%	4h	0.008679	long leg	—	$2.3M	—
Variational Omni PENGU	+0.0100%	4h	0.008709	+0.346%	$799K	$714K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008696	+0.197%	$455K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008718	+0.449%	$79K	$253K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008680	+0.017%	$674K	$756K	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008679	0.000%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008887	+2.397%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008676	−0.035%	$990	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008703	+0.277%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008673	−0.070%	$179K	$682K	10x	as long as short
Aevo PENGU-PERPshort	+0.0104%	1h	0.008675	−0.046%	$200K	$17K	3x
Reya PENGURUSDPERP	+0.0237%	1h	0.008675	−0.049%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008685	+0.069%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0703%	1h	0.008681	+0.023%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008728	+0.565%	$94K	$97K	50x	as long as short