Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against BingX−0.033%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$430.430% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 7 days+0.047%+$5 · spread now −0.033%, 7d avg +0.004%

Together, before fees−0.005%−$1 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: OKX is 0.036% cheaper against BingX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENGU-USDT	0.009131	0.0100	pay 0.0050% / 4h	3h 40m	—	$3.8M	—
Short	OKX PENGU-USDT-SWAP	0.009128	0.0100	get 0.0050% / 4h	3h 40m	$8.3M	$58.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.033%Rate

Funding earned: $0
Price spread: −0.033% → +0.004%: −$3.65
Slippage, 4 orders: −$23.01
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$46.66
Costs to cover: 0.430%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; OKX: live order book, 4 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	0.55 bp	11.0 bp −$11	14.5 bp −$145	53.7 bp −$5,367	370.5 bp −$185.3K
Sell OKX live order book, 4 min ago	0.55 bp	10.8 bp −$11	30.7 bp −$307	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
Gate PENGU_USDT	−0.0088%	4h	0.009126	−0.055%	$3.7M	$17.8M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009107	−0.265%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.745%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009141	+0.110%	$334K	$753K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009142	+0.120%	$9.4M	$16.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009137	+0.068%	$132K	$753K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009129	−0.022%	$138K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009135	+0.048%	$40.3M	$196.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009126	−0.055%	$24.7M	$46.8M	75x	as long as short
OKX PENGU-USDT-SWAPshort	+0.0100%	4h	0.009128	−0.033%	$8.3M	$58.3M	50x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.009120	−0.120%	$19K	$26K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009135	+0.044%	$11.6M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009133	+0.022%	$5.1M	$10.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009137	+0.066%	$8.9M	$15.1M	75x	as long as short
BingX PENGU-USDTlong	+0.0100%	4h	0.009131	long leg	—	$3.8M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009128	−0.033%	$313K	$388K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009139	+0.088%	$944K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009127	−0.047%	$483K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009145	+0.153%	$80K	$252K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009101	−0.323%	$647K	$1.1M	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009113	−0.197%	$23K	$324K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009317	+2.037%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009135	+0.044%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009146	+0.164%	$95K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009123	−0.092%	$190K	$744K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009112	−0.208%	$210K	—	3x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0189%	1h	0.009117	−0.153%	$1K	$29K	10x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009098	−0.362%	$307	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009164	+0.361%	$1.6M	$5.3M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0378%	1h	0.009136	+0.058%	$351K	$2.7M	50x	as long as short
01 Exchange PENGUUSD	+0.0384%	1h	0.009129	−0.022%	$209	$41	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0432% / S −0.0351%	1h	0.009153	+0.241%	$104K	—	100x	as long as short
dYdX PENGU-USD	+0.1666%	1h	0.009132	+0.011%	$12K	$6K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2088%	1h	0.009211	+0.876%	$81K	$74K	50x	as long as short