Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aevo against Bitget+0.133%7-day average −0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$171as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1721.718% of the position

Long on Bitget Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%+$1 on $10k

Price spread, last 4 days (all we have)−0.191%−$19 · spread now +0.133%, 7d avg −0.076%

Together, before fees−0.186%−$19 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: Aevo is 0.209% dearer against Bitget than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of −0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENGUUSDT	0.009038	0.0100	pay 0.0050% / 4h	1h 08m	$8.7M	$13.9M	75x
Short	Aevo PENGU-PERP	0.009050	0.0104	get 0.0013% / 1h	8m 35s	$209K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bitget. 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 BitgetbpFee AevobpOrdersPrice spread, now +0.133%Rate

Funding earned: $0.84
Price spread: +0.133% → −0.076%: $20.87
Slippage, 4 orders: −$143.83
Fee Bitget: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$150.12
Costs to cover: 1.718%
Break-even: 1258.0 days

Slippage from Bitget: live order book, 5 min ago; Aevo: live order book, 35 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 Bitget live order book, 5 min ago	1.11 bp	14.5 bp −$15	29.9 bp −$299	87.9 bp −$8,786	doesn't fit
Sell Aevo live order book, 35 min ago	60.41 bp	78.8 bp −$79	297.3 bp −$2,973	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009051	+0.146%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.755%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009045	+0.077%	$325K	$771K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009051	+0.149%	$638K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009047	+0.099%	$143K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009037	−0.011%	$136K	$260K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009038	+0.003%	$39.4M	$189.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009027	−0.122%	$24.0M	$44.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009029	−0.100%	$8.0M	$54.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009040	+0.022%	$18K	$25K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENGU_USDT	+0.0100%	4h	0.009033	−0.055%	$3.7M	$17.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009035	−0.033%	$11.0M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009044	+0.066%	$5.1M	$10.2M	75x	as long as short
Bitget PENGUUSDTlong	+0.0100%	4h	0.009038	long leg	$8.7M	$13.9M	75x
BingX PENGU-USDC	+0.0100%	4h	0.009030	−0.089%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009048	+0.111%	$296K	$368K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009045	+0.076%	$921K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009055	+0.189%	$475K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009057	+0.210%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009053	+0.166%	$23K	$243K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009276	+2.633%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009054	+0.177%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009063	+0.277%	$94K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009031	−0.081%	$185K	$523K	10x	as long as short
Aevo PENGU-PERPshort	+0.0104%	1h	0.009050	+0.133%	$209K	—	3x
Hyperliquid PENGU	+0.0212%	1h	0.009049	+0.122%	$9.1M	$16.3M	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009048	+0.107%	$306	—	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0302%	1h	0.009058	+0.221%	$1K	$29K	10x	as long as short
01 Exchange PENGUUSD	+0.0336%	1h	0.009060	+0.243%	$207	$60	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009051	+0.144%	$1.6M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0443% / S −0.0368%	1h	0.009050	+0.133%	$107K	—	100x	as long as short
dYdX PENGU-USD	+0.0564%	1h	0.009043	+0.057%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0673%	1h	0.009060	+0.241%	$337K	$2.5M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009135	+1.073%	$80K	$70K	50x	as long as short