Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Extended against BingX+0.032%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$350.346% of the position

Long on BingX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

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

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.032% dearer against BingX than usual: you sell high and buy low, +$3 on $10k if it 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-USDT	0.008720	0.0100	pay 0.0050% / 4h	10m 18s	—	$3.9M	—
Short	Extended PENGU-USD	0.008723	0.0104	get 0.0013% / 1h	10m 18s	$179K	$622K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.032%Rate

Funding earned: $0.84
Price spread: +0.032% → 0.000%: $3.21
Slippage, 4 orders: −$19.62
Fee BingX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$30.57
Costs to cover: 0.346%
Break-even: 261.7 days

Slippage from BingX: live order book, 10 min ago; Extended: live order book, 3 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, 10 min ago	0.57 bp	8.1 bp −$8	13.2 bp −$132	42.6 bp −$4,258	361.8 bp −$180.9K
Sell Extended live order book, 3 min ago	0.57 bp	9.9 bp −$10	84.0 bp −$840	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	−0.0343%	1h	0.008734	+0.157%	$367K	$2.3M	50x	as long as short
Bybit PENGUUSDT	−0.0325%	4h	0.008719	−0.011%	$22.7M	$36.9M	75x	as long as short
Gate PENGU_USDT	−0.0312%	4h	0.008720	0.000%	$3.4M	$15.7M	75x	as long as short
Variational Omni PENGU	−0.0310%	4h	0.008693	−0.307%	$859K	$927K	—	as long as short
01 Exchange PENGUUSD	−0.0280%	1h	0.008729	+0.103%	$200	$59	5x	as long as short
Backpack PENGU_USDC_PERP	−0.0187%	1h	0.008700	−0.229%	$306K	$315K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.791%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0094%	1h	0.008727	+0.080%	$18K	$10K	10x	as long as short
Nado PENGU-PERP	−0.0025%	1h	0.008727	+0.077%	$694K	$777K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008728	+0.086%	$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	+0.0018%	1h	0.008718	−0.026%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0078%	4h	0.008721	+0.011%	$456K	$2.1M	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008727	+0.080%	$305K	$741K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008727	+0.080%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008725	+0.057%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008728	+0.090%	$187K	$474K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008726	+0.069%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008725	+0.052%	$36.1M	$155.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008721	+0.011%	$7.5M	$46.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008730	+0.115%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008729	+0.103%	$12.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008727	+0.080%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008728	+0.092%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDTlong	+0.0100%	4h	0.008720	long leg	—	$3.9M	—
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008729	+0.103%	$79K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008932	+2.431%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008724	+0.046%	$996	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008734	+0.161%	$91K	$249K	25x	as long as short
Extended PENGU-USDshort	+0.0104%	1h	0.008723	+0.032%	$179K	$622K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008722	+0.023%	$201K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008720	−0.001%	$294	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008706	−0.161%	$1.5M	$2.7M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0495% / S −0.0683%	1h	0.008726	+0.069%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008768	+0.550%	$93K	$103K	50x	as long as short