Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against BingX+0.309%7-day average +0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$630.635% of the position

Long on BingX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)−0.062%−$6 · spread now +0.309%, 7d avg +0.100%

Together, before fees−0.073%−$7 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: ApeX Omni is 0.210% dearer against BingX than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of +0.100%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENGU-USDC	0.008728	0.0100	pay 0.0050% / 4h	2h 39m	—	$2.3M	—
Short	ApeX Omni PENGUUSDT	0.008755	0.0100	get 0.0013% / 1h	39m 34s	$79K	$251K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now +0.309%Rate

Funding earned: $0
Price spread: +0.309% → +0.100%: $20.98
Slippage, 4 orders: −$43.45
Fee BingX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$42.47
Costs to cover: 0.635%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; ApeX Omni: live order book, 7 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, 4 min ago	2.85 bp	18.3 bp −$18	52.3 bp −$523	413.9 bp −$41.4K	doesn't fit
Sell ApeX Omni live order book, 7 min ago	5.11 bp	13.1 bp −$13	105.1 bp −$1,051	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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008743	+0.172%	$17K	$12K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008735	+0.081%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.699%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008737	+0.103%	$317K	$749K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008737	+0.103%	$586K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008747	+0.218%	$8.0M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008734	+0.067%	$120K	$667K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008735	+0.080%	$132K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008733	+0.062%	$36.8M	$176.2M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008728	0.000%	$23.2M	$41.7M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008735	+0.080%	$7.5M	$50.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008730	+0.023%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008735	+0.080%	$3.3M	$16.4M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008735	+0.080%	$10.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008727	−0.011%	$4.9M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008740	+0.137%	$8.4M	$13.3M	75x	as long as short
BingX PENGU-USDClong	+0.0100%	4h	0.008728	long leg	—	$2.3M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008735	+0.080%	$289K	$339K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008744	+0.185%	$913K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008738	+0.120%	$457K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDTshort	+0.0100%	1h	0.008755	+0.309%	$79K	$251K	50x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008738	+0.115%	$22K	$153K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008953	+2.578%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008737	+0.103%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008734	+0.069%	$90K	$387K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008731	+0.037%	$180K	$869K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008733	+0.057%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0167%	1h	0.008729	+0.014%	$12K	$6K	5x	as long as short
01 Exchange PENGUUSD	+0.0184%	1h	0.008735	+0.080%	$200	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008740	+0.142%	$295	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0323%	1h	0.008746	+0.210%	$320K	$2.4M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008746	+0.206%	$1.5M	$4.2M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0497% / S −0.0413%	1h	0.008730	+0.023%	$125K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008812	+0.962%	$78K	$76K	50x	as long as short