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: HTX against BingX+0.057%7-day average +0.290% · you sell dearer than you buy

Net, funding: paid 7d − costs−$152as in the Funding arb table

Net, price: spread back to 7d avg − costs−$196as in the Price arb table

costs, in and out, $10k−$1731.730% of the position

Long on BingX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.215%+$21 on $10k

Price spread, last 3 days (all we have)+0.236%+$24 · spread now +0.057%, 7d avg +0.290%

Together, before fees+0.450%+$45 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: HTX is 0.233% cheaper against BingX than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of +0.290%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENGU-USDT	0.008802	0.0100	pay 0.0050% / 4h	1h 22m	—	$3.9M	—
Short	HTX PENGU-USDT	0.008807	0.0100	get 0.0050% / 4h	1h 22m	$92K	$249K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.057%Rate

Funding earned: $0
Price spread: +0.057% → +0.290%: −$23.3
Slippage, 4 orders: −$150.98
Fee BingX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$196.28
Costs to cover: 1.730%
Break-even: never at this rate

Slippage from BingX: live order book, 3 min ago; HTX: live order book, 60 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, 3 min ago	0.57 bp	8.4 bp −$8	14.9 bp −$149	59.2 bp −$5,919	387.5 bp −$193.7K
Sell HTX live order book, 60 min ago	11.45 bp	140.2 bp −$140	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	−0.0605%	1h	0.008813	+0.127%	$370K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0292%	4h	0.008800	−0.023%	$3.5M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0145%	4h	0.008801	−0.011%	$22.9M	$36.5M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0091%	1h	0.008805	+0.034%	$19K	$9K	10x	as long as short
01 Exchange PENGUUSD	−0.0080%	1h	0.008804	+0.023%	$201	$59	5x	as long as short
Variational Omni PENGU	+0.0001%	4h	0.008766	−0.404%	$801K	$802K	—	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008806	+0.044%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.148%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	+0.0095%	1h	0.008797	−0.060%	$685K	$759K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008805	+0.034%	$309K	$736K	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	0.008807	+0.057%	$8.7M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008807	+0.054%	$190K	$466K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008796	−0.068%	$151K	$238K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008808	+0.068%	$36.6M	$153.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008805	+0.034%	$7.7M	$47.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	−0.023%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008803	+0.011%	$12.7M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008803	+0.011%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008809	+0.080%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDTlong	+0.0100%	4h	0.008802	long leg	—	$3.9M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008807	+0.057%	$314K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008788	−0.154%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008792	−0.114%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008804	+0.023%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009009	+2.352%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008803	+0.011%	$999	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.008807	+0.057%	$92K	$249K	25x
Extended PENGU-USD	+0.0104%	1h	0.008800	−0.025%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008800	−0.023%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0135%	1h	0.008798	−0.041%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008797	−0.062%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008786	−0.182%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0711%	1h	0.008805	+0.034%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	+1.625%	$95K	$105K	50x	as long as short