Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Bitget+2.219%50s7-day average +2.660% · you sell dearer than you buy

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

Long on Bitget Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.188%+$19 · spread now +2.219%, 7d avg +2.660%

Together, before fees+0.188%+$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: SunX is 0.440% cheaper against Bitget than usual: you would sell low and buy high, −$44 on $10k if it goes back to its 7-day average of +2.660%. The two prices were read 50 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	0.008876	0.0100	pay 0.0050% / 4h	4m 24s	$8.6M	$12.7M	75x
Short	SunX PENGU-USDT	0.009073	0.0100	get 0.0050% / 4h	4m 24s	$3K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +2.219%Rate

Funding earned: $0
Price spread: +2.219% → +2.660%: −$44
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$64
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 4 min ago; SunX: live order book, 2 min ago. 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, 4 min ago	0.56 bp	9.8 bp −$10	30.2 bp −$302	doesn't fit	doesn't fit
Sell SunX live order book, 2 min ago	253.81 bp	doesn't fit	doesn't fit	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	0.008872	−0.047%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.980%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008867	−0.101%	$315K	$720K	8x	as long as short
Gate PENGU_USDT	+0.0096%	4h	0.008862	−0.158%	$3.3M	$15.9M	75x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008881	+0.056%	$23K	$96K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008869	−0.073%	$596K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008873	−0.034%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008859	−0.196%	$126K	$599K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008860	−0.180%	$156K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008865	−0.122%	$37.7M	$166.0M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDT	+0.0100%	4h	0.008860	−0.180%	$23.5M	$39.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008861	−0.169%	$7.5M	$48.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008870	−0.068%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008870	−0.068%	$10.9M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008867	−0.101%	$4.8M	$9.2M	75x	as long as short
Bitget PENGUUSDTlong	+0.0100%	4h	0.008876	long leg	$8.6M	$12.7M	75x
BingX PENGU-USDC	+0.0100%	4h	0.008858	−0.203%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008870	−0.068%	$295K	$326K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008853	−0.260%	$922K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008865	−0.129%	$473K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008865	−0.124%	$80K	$242K	50x	as long as short
SunX PENGU-USDTshort	+0.0100%	4h	0.009073	+2.219%	$3K	$2.1M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.008880	+0.045%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008884	+0.090%	$92K	$377K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008860	−0.175%	$183K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008876	0.000%	$205K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0112%	1h	0.008859	−0.192%	$203	$64	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0200%	1h	0.008886	+0.113%	$18K	$10K	10x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008868	−0.088%	$299	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008877	+0.011%	$1.5M	$3.7M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0361%	1h	0.008886	+0.108%	$348K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0439%	1h	0.008858	−0.206%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0572%	1h	0.008877	+0.011%	$119K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008962	+0.969%	$95K	$63K	50x	as long as short