Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0122%/8h= +13.4% APRpaid last 24h +0.336%

Price spread now: dYdX against BingX+0.139%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BingX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and dYdX is 0.139% dearer against BingX than usual: you sell high and buy low: +$14 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENGU-USDC	0.008778	0.0100	pay 0.0050% / 4h	1h 16m	—	$2.3M	—
Short	dYdX PENGU-USD	0.008790	0.0222	get 0.0028% / 1h	16m 33s	$12K	$4K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.139%Rate

Funding earned: $25.64
Price spread: +0.139% → 0.000%: $13.95
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: $19.59
Costs to cover: 0.200%
Break-even: 1.7 days

Slippage unknown: BingX: live order book, 7 min ago; dYdX: no order-book sample. Net counts fees only.

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	1.14 bp	13.0 bp −$13	60.3 bp −$603	346.6 bp −$34.7K	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0040%	1h	0.008788	+0.114%	$201	$64	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008779	+0.011%	$18K	$10K	10x	as long as short
Gate PENGU_USDT	+0.0004%	4h	0.008787	+0.103%	$3.3M	$15.7M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008776	−0.025%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.125%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008794	+0.182%	$313K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008779	+0.011%	$23K	$165K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008781	+0.040%	$588K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008786	+0.091%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008782	+0.046%	$121K	$579K	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	0.008790	+0.137%	$155K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008788	+0.116%	$36.7M	$160.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008782	+0.046%	$23.3M	$38.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008784	+0.068%	$7.4M	$46.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008790	+0.137%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008790	+0.137%	$11.4M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008783	+0.057%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008792	+0.159%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDClong	+0.0100%	4h	0.008778	long leg	—	$2.3M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008781	+0.034%	$300K	$293K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008794	+0.181%	$874K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008781	+0.034%	$458K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008800	+0.251%	$80K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008991	+2.427%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008778	0.000%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008791	+0.148%	$92K	$354K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008784	+0.065%	$185K	$945K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008771	−0.080%	$203K	—	3x	as long as short
dYdX PENGU-USDshort	+0.0222%	1h	0.008790	+0.139%	$12K	$4K	5x
Reya PENGURUSDPERP	+0.0239%	1h	0.008767	−0.124%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008773	−0.057%	$1.5M	$3.5M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0555% / S −0.0662%	1h	0.008776	−0.023%	$132K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0648%	1h	0.008784	+0.073%	$351K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.153%	$95K	$94K	50x	as long as short