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% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Bitget−0.103%73s7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$550.549% of the position

Long on Bitget Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 3 days (all we have)+0.169%+$17 · spread now −0.103%, 7d avg −0.002%

Together, before fees+0.157%+$16 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: ApeX Omni is 0.100% cheaper against Bitget than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.002%. The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENGUUSDT	0.008749	0.0100	pay 0.0050% / 4h	32m 27s	$8.3M	$12.6M	75x
Short	ApeX Omni PENGUUSDT	0.008740	0.0100	get 0.0013% / 1h	32m 27s	$80K	$254K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now −0.103%Rate

Funding earned: $0
Price spread: −0.103% → −0.002%: −$10.05
Slippage, 4 orders: −$32.89
Fee Bitget: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$64.93
Costs to cover: 0.549%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; ApeX Omni: live order book, 44 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, 1 min ago	1.14 bp	12.4 bp −$12	20.9 bp −$209	63.7 bp −$6,370	doesn't fit
Sell ApeX Omni live order book, 44 min ago	6.25 bp	13.9 bp −$14	114.6 bp −$1,146	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	−0.0342%	1h	0.008755	+0.069%	$368K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0264%	4h	0.008740	−0.103%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0253%	4h	0.008739	−0.114%	$22.7M	$36.7M	75x	as long as short
01 Exchange PENGUUSD	−0.0232%	1h	0.008740	−0.103%	$200	$59	5x	as long as short
Variational Omni PENGU	−0.0189%	4h	0.008745	−0.040%	$799K	$802K	—	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.457%	$3K	$117K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0106%	1h	0.008747	−0.023%	$312K	$313K	10x	as long as short
Nado PENGU-PERP	−0.0006%	1h	0.008745	−0.040%	$694K	$774K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008754	+0.057%	$19K	$9K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008749	+0.004%	$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	+0.0029%	1h	0.008750	+0.015%	$12K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008749	0.000%	$306K	$741K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008748	−0.011%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008746	−0.034%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008752	+0.040%	$188K	$468K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008746	−0.034%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008745	−0.051%	$36.2M	$154.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008743	−0.069%	$7.5M	$47.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008750	+0.011%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008746	−0.034%	$12.4M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008748	−0.011%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDTlong	+0.0100%	4h	0.008749	long leg	$8.3M	$12.6M	75x
BingX PENGU-USDT	+0.0100%	4h	0.008743	−0.069%	—	$3.9M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008753	+0.040%	$458K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDTshort	+0.0100%	1h	0.008740	−0.103%	$80K	$254K	50x
SunX PENGU-USDT	+0.0100%	4h	0.008959	+2.400%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008748	−0.011%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008766	+0.194%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008743	−0.063%	$180K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008740	−0.103%	$202K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008743	−0.073%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008751	+0.023%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008748	−0.011%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008788	+0.446%	$94K	$103K	50x	as long as short