Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0236%/8h= −25.8% APRpaid last 24h −0.071%

Price spread now: Aevo against BloFin+0.045%53s7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$161as 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−$1141.145% of the position

Long on BloFin Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days−0.465%−$46 on $10k

Price spread, last 4 days (all we have)−0.197%−$20 · spread now +0.045%, 7d avg −0.028%

Together, before fees−0.662%−$66 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aevo is 0.073% dearer against BloFin than usual: you sell high and buy low (spread +0.045% now, against its 7-day average of −0.028%): +$7 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 25 hours. The two prices were read 53 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	BloFin PENGU-USDT	0.008926	0.0340	pay 0.0170% / 4h	2m 18s	$1.5M	$3.8M	75x
Short	Aevo PENGU-PERP	0.008930	0.0104	get 0.0013% / 1h	2m 18s	$206K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against BloFin. 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 BloFinbpFee AevobpOrdersPrice spread, now +0.045%Rate

Funding earned: −$49.56
Price spread: +0.045% → −0.028%: $7.29
Slippage, 4 orders: −$86.49
Fee BloFin: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$156.76
Costs to cover: 1.145%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Aevo: live order book, 57 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 BloFin live order book, 6 min ago	0.56 bp	8.8 bp −$9	14.2 bp −$142	51.5 bp −$5,152	doesn't fit
Sell Aevo live order book, 57 min ago	11.44 bp	35.7 bp −$36	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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008938	+0.134%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008939	+0.142%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.535%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008945	+0.213%	$318K	$720K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008939	+0.146%	$24K	$92K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008940	+0.162%	$601K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008946	+0.224%	$8.3M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008944	+0.199%	$128K	$599K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008941	+0.168%	$157K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008940	+0.158%	$38.0M	$166.3M	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	0.008935	+0.101%	$23.6M	$39.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008934	+0.090%	$7.5M	$48.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008940	+0.157%	$19K	$24K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008938	+0.134%	$3.4M	$15.9M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008940	+0.157%	$10.9M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008940	+0.157%	$4.9M	$9.3M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008945	+0.213%	$8.7M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008936	+0.112%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008929	+0.034%	$297K	$326K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008853	−0.818%	$922K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008865	−0.688%	$473K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008876	−0.560%	$80K	$242K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009150	+2.510%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008935	+0.101%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008918	−0.090%	$92K	$377K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008933	+0.073%	$184K	$943K	10x	as long as short
Aevo PENGU-PERPshort	+0.0104%	1h	0.008930	+0.045%	$206K	—	3x
01 Exchange PENGUUSD	+0.0112%	1h	0.008942	+0.179%	$205	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008936	+0.109%	$302	—	10x	as long as short
BloFin PENGU-USDTlong	+0.0340%	4h	0.008926	long leg	$1.5M	$3.8M	75x
Kraken Futures PF_PENGUUSD	+0.0358%	1h	0.008943	+0.193%	$350K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0426%	1h	0.008940	+0.153%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0512% / S −0.0572%	1h	0.008938	+0.134%	$120K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008962	+0.403%	$95K	$63K	50x	as long as short