Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0332%/8h= −36.4% APRpaid last 24h −0.001%

Price spread now: 01 Exchange against Bitget−0.102%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on 01 Exchange

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

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and 01 Exchange is 0.102% cheaper against Bitget than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENGUUSDT	0.008823	0.0100	pay 0.0050% / 4h	3h 43m	$8.4M	$12.7M	75x
Short	01 Exchange PENGUUSD	0.008814	−0.0232	pay 0.0029% / 1h	43m 25s	$202	$59	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.102%Rate

Funding earned: −$69.72
Price spread: −0.102% → 0.000%: −$10.2
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$98.92
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 5 min ago; 01 Exchange: 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	12.7 bp −$13	34.8 bp −$348	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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
Deribit PENGU_USDC-PERPETUAL	−0.0433%	1h	0.008775	−0.544%	$18K	$10K	10x	as long as short
Kraken Futures PF_PENGUUSD	−0.0393%	1h	0.008787	−0.407%	$368K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0328%	4h	0.008814	−0.102%	$3.4M	$15.5M	75x	as long as short
Variational Omni PENGU	−0.0298%	4h	0.008761	−0.701%	$867K	$931K	—	as long as short
01 Exchange PENGUUSDshort	−0.0232%	1h	0.008814	−0.102%	$202	$59	5x
Bybit PENGUUSDT	−0.0176%	4h	0.008818	−0.057%	$23.0M	$37.1M	75x	as long as short
Backpack PENGU_USDC_PERP	−0.0055%	1h	0.008776	−0.533%	$308K	$311K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008827	+0.047%	$34K	—	150x	as long as short
GRVT PENGU_USDT_Perp	+0.0024%	4h	0.008798	−0.283%	$466K	$2.1M	10x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.385%	$3K	$117K	5.5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0044%	1h	0.008813	−0.108%	$699K	$773K	5x	as long as short
dYdX PENGU-USD	+0.0065%	1h	0.008811	−0.133%	$12K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008809	−0.159%	$308K	$727K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008827	+0.045%	$24K	$184K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008820	−0.034%	$8.3M	$15.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008814	−0.100%	$189K	$481K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008809	−0.159%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008829	+0.070%	$36.9M	$155.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008826	+0.034%	$7.6M	$47.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008820	−0.034%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008823	0.000%	$12.4M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008812	−0.125%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDTlong	+0.0100%	4h	0.008823	long leg	$8.4M	$12.7M	75x
BingX PENGU-USDT	+0.0100%	4h	0.008825	+0.023%	—	$3.9M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008789	−0.385%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008982	+1.802%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008776	−0.533%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008800	−0.261%	$90K	$298K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008812	−0.129%	$184K	$787K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008825	+0.023%	$204K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008819	−0.042%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008790	−0.374%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0499% / S −0.0683%	1h	0.008827	+0.045%	$111K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008808	−0.170%	$94K	$103K	50x	as long as short