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: SoDEX against Bitget+0.011%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 SoDEX

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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENGUUSDT	0.008753	0.0100	pay 0.0050% / 4h	28m 34s	$8.3M	$12.6M	75x
Short	SoDEX PENGU-USD	0.008754	0.0100	get 0.0013% / 1h	28m 34s	$1K	$5K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.011%Rate

Funding earned: $0
Price spread: +0.011% → 0.000%: $1.14
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$18.86
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 5 min ago; SoDEX: 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, 5 min ago	1.14 bp	12.4 bp −$12	20.9 bp −$209	63.7 bp −$6,370	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	−0.0342%	1h	0.008759	+0.073%	$368K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0272%	4h	0.008743	−0.114%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0269%	4h	0.008740	−0.149%	$22.7M	$36.7M	75x	as long as short
01 Exchange PENGUUSD	−0.0240%	1h	0.008747	−0.069%	$200	$59	5x	as long as short
Variational Omni PENGU	−0.0209%	4h	0.008739	−0.154%	$798K	$802K	—	as long as short
Backpack PENGU_USDC_PERP	−0.0128%	1h	0.008755	+0.023%	$312K	$313K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.411%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	−0.0001%	1h	0.008751	−0.017%	$695K	$774K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008757	+0.046%	$19K	$9K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008755	+0.023%	$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	+0.0026%	1h	0.008758	+0.054%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0094%	4h	0.008745	−0.092%	$458K	$2.1M	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008752	−0.011%	$306K	$741K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008756	+0.034%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008753	0.000%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008761	+0.094%	$189K	$468K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008750	−0.034%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008753	−0.005%	$36.3M	$154.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008745	−0.091%	$7.5M	$47.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008750	−0.034%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008753	0.000%	$12.4M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008752	−0.011%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDTlong	+0.0100%	4h	0.008753	long leg	$8.3M	$12.6M	75x
BingX PENGU-USDT	+0.0100%	4h	0.008747	−0.069%	—	$3.9M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008754	+0.011%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008965	+2.422%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USDshort	+0.0100%	1h	0.008754	+0.011%	$1K	$5K	5x
HTX PENGU-USDT	+0.0100%	4h	0.008770	+0.194%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008745	−0.087%	$180K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008751	−0.023%	$202K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008751	−0.027%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008750	−0.034%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008756	+0.034%	$111K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008788	+0.400%	$94K	$103K	50x	as long as short