Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h +0.002%

Price spread now: 01 Exchange against BingX+0.185%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 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. 01 Exchange is 0.185% dearer against BingX than usual: you sell high and buy low (spread +0.185% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENGU-USDT	0.008663	0.0100	pay 0.0050% / 4h	2h 54m	—	$4.0M	—
Short	01 Exchange PENGUUSD	0.008679	−0.0120	pay 0.0015% / 1h	54m 47s	$199	$59	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.185%Rate

Funding earned: −$46.2
Price spread: +0.185% → 0.000%: $18.47
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$44.73
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: BingX: live order book, 10 min ago; 01 Exchange: 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, 10 min ago	0.57 bp	8.7 bp −$9	14.0 bp −$140	51.0 bp −$5,102	349.4 bp −$174.7K
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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
Kraken Futures PF_PENGUUSD	−0.0550%	1h	0.008697	+0.396%	$385K	$2.1M	50x	as long as short
Backpack PENGU_USDC_PERP	−0.0355%	1h	0.008687	+0.277%	$311K	$318K	10x	as long as short
Bybit PENGUUSDT	−0.0344%	4h	0.008656	−0.081%	$22.7M	$35.6M	75x	as long as short
Gate PENGU_USDT	−0.0302%	4h	0.008659	−0.046%	$3.4M	$15.3M	75x	as long as short
01 Exchange PENGUUSDshort	−0.0120%	1h	0.008679	+0.185%	$199	$59	5x
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.600%	$3K	$81K	5.5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008684	+0.242%	$11K	$4K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008695	+0.369%	$21K	$8K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008694	+0.358%	$33K	—	150x	as long as short
Nado PENGU-PERP	+0.0088%	1h	0.008679	+0.190%	$674K	$758K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENGU	+0.0096%	1h	0.008693	+0.346%	$295K	$718K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008670	+0.081%	$8.7M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008687	+0.282%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008674	+0.127%	$143K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008665	+0.027%	$35.9M	$150.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008662	−0.012%	$7.7M	$46.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008680	+0.196%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008670	+0.081%	$12.8M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008681	+0.208%	$4.8M	$8.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008664	+0.012%	$8.1M	$12.4M	75x	as long as short
BingX PENGU-USDTlong	+0.0100%	4h	0.008663	long leg	—	$4.0M	—
Variational Omni PENGU	+0.0100%	4h	0.008676	+0.155%	$795K	$712K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008675	+0.139%	$454K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008677	+0.162%	$79K	$254K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008696	+0.381%	$21K	$185K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008879	+2.493%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008691	+0.323%	$981	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008688	+0.289%	$91K	$248K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008661	−0.028%	$178K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008690	+0.312%	$201K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008685	+0.252%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008675	+0.139%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0489% / S −0.0675%	1h	0.008693	+0.346%	$109K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+2.770%	$94K	$97K	50x	as long as short