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: Binance against BingX+0.127%7-day average +0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$560.561% of the position

Long on BingX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 7 days−0.014%−$1 · spread now +0.127%, 7d avg +0.085%

Together, before fees−0.036%−$4 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: Binance is 0.042% dearer against BingX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENGU-USDC	0.008688	0.0100	pay 0.0050% / 4h	11m 24s	—	$2.3M	—
Short	Binance PENGUUSDT	0.008699	0.0100	get 0.0050% / 4h	11m 24s	$36.0M	$155.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.127%Rate

Funding earned: $0
Price spread: +0.127% → +0.085%: $4.17
Slippage, 4 orders: −$36.07
Fee BingX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$51.89
Costs to cover: 0.561%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; Binance: live order book, 2 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, 7 min ago	2.29 bp	15.0 bp −$15	55.0 bp −$550	546.7 bp −$54.7K	1137.1 bp −$568.6K
Sell Binance live order book, 2 min ago	0.57 bp	8.6 bp −$9	19.4 bp −$194	60.9 bp −$6,089	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	−0.0344%	1h	0.008710	+0.254%	$366K	$2.3M	50x	as long as short
Bybit PENGUUSDT	−0.0332%	4h	0.008693	+0.058%	$22.7M	$36.9M	75x	as long as short
Gate PENGU_USDT	−0.0318%	4h	0.008697	+0.104%	$3.4M	$15.7M	75x	as long as short
Variational Omni PENGU	−0.0310%	4h	0.008693	+0.060%	$859K	$927K	—	as long as short
01 Exchange PENGUUSD	−0.0280%	1h	0.008698	+0.115%	$199	$59	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0209%	1h	0.008702	+0.161%	$18K	$10K	10x	as long as short
Backpack PENGU_USDC_PERP	−0.0183%	1h	0.008719	+0.357%	$306K	$315K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+1.163%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	−0.0022%	1h	0.008707	+0.213%	$692K	$777K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008706	+0.210%	$33K	—	150x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENGU-USD	+0.0019%	1h	0.008716	+0.327%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0078%	4h	0.008721	+0.380%	$456K	$2.1M	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008712	+0.276%	$305K	$741K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008703	+0.173%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008707	+0.219%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008714	+0.297%	$187K	$474K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008712	+0.276%	$150K	$239K	5x	as long as short
Binance PENGUUSDTshort	+0.0100%	4h	0.008699	+0.127%	$36.0M	$155.0M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008699	+0.127%	$7.5M	$46.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008710	+0.253%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008705	+0.196%	$12.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008706	+0.207%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008703	+0.173%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDClong	+0.0100%	4h	0.008688	long leg	—	$2.3M	—
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008729	+0.472%	$79K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008915	+2.613%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008699	+0.127%	$998	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008749	+0.702%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008697	+0.102%	$179K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008697	+0.104%	$201K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008703	+0.171%	$294	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008721	+0.380%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0495% / S −0.0683%	1h	0.008705	+0.196%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008768	+0.921%	$93K	$103K	50x	as long as short