Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0147%/8h= +16.1% APRpaid last 24h +0.352%

Price spread now: dYdX against Bitget+0.001%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENGUUSDT	0.008802	0.0100	pay 0.0050% / 4h	2h 31m	$8.3M	$12.7M	75x
Short	dYdX PENGU-USD	0.008802	0.0247	get 0.0031% / 1h	31m 13s	$12K	$4K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.001%Rate

Funding earned: $30.85
Price spread: +0.001% → 0.000%: $0.14
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: $8.98
Costs to cover: 0.220%
Break-even: 5.0 days

Slippage unknown: Bitget: live order book, 2 min ago; dYdX: 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 Bitget live order book, 2 min ago	1.14 bp	11.4 bp −$11	28.6 bp −$286	98.8 bp −$9,877	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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 33 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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008800	−0.023%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008801	−0.015%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0010%	4h	0.008798	−0.045%	$3.4M	$15.5M	75x	as long as short
Variational Omni PENGU	+0.0019%	4h	0.008791	−0.123%	$874K	$1.0M	—	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.148%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0072%	1h	0.008803	+0.011%	$201	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008801	−0.011%	$311K	$707K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008800	−0.023%	$19K	$167K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008797	−0.062%	$592K	$988K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008806	+0.045%	$8.3M	$14.9M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008803	+0.016%	$143K	$506K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008798	−0.045%	$155K	$245K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008798	−0.046%	$37.5M	$157.4M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008787	−0.170%	$22.9M	$38.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008792	−0.114%	$7.5M	$47.6M	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	0.008804	+0.023%	$12.0M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008805	+0.034%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDTlong	+0.0100%	4h	0.008802	long leg	$8.3M	$12.7M	75x
BingX PENGU-USDC	+0.0100%	4h	0.008794	−0.091%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008803	+0.011%	$302K	$313K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008784	−0.208%	$470K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008802	0.000%	$80K	$248K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009015	+2.420%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008798	−0.045%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008820	+0.204%	$94K	$337K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008794	−0.088%	$181K	$939K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008790	−0.136%	$203K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008806	+0.046%	$363K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008803	+0.009%	$297	—	10x	as long as short
dYdX PENGU-USDshort	+0.0247%	1h	0.008802	+0.001%	$12K	$4K	5x
GMX PENGU/USD [WBTC.b-USDC]	L +0.0513% / S −0.0708%	1h	0.008803	+0.011%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.875%	$95K	$100K	50x	as long as short