Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0431%/8h= −47.2% APRpaid last 24h −0.130%

Price spread now: Deribit against BloFin+0.216%57s7-day average — · you sell dearer than you buy

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

Long on BloFin Short on Deribit

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 pays, funding is against you. Deribit is 0.216% dearer against BloFin than usual: you sell high and buy low (spread +0.216% now, against zero (this spread has no 7-day history yet)): +$22 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 40 hours. The two prices were read 57 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	0.008786	0.0340	pay 0.0170% / 4h	1h 22m	$1.5M	$2.8M	75x
Short	Deribit PENGU_USDC-PERPETUAL	0.008805	−0.0091	pay 0.0011% / 1h	22m 01s	$19K	$9K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.216%Rate

Funding earned: −$90.51
Price spread: +0.216% → 0.000%: $21.63
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$87.88
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: BloFin: live order book, 6 min ago; Deribit: 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 BloFin live order book, 6 min ago	1.71 bp	8.9 bp −$9	14.1 bp −$141	54.7 bp −$5,470	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−0.0605%	1h	0.008813	+0.309%	$370K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0292%	4h	0.008800	+0.159%	$3.5M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0145%	4h	0.008801	+0.171%	$22.9M	$36.5M	75x	as long as short
Deribit PENGU_USDC-PERPETUALshort	−0.0091%	1h	0.008805	+0.216%	$19K	$9K	10x
01 Exchange PENGUUSD	−0.0080%	1h	0.008804	+0.205%	$201	$59	5x	as long as short
Variational Omni PENGU	+0.0001%	4h	0.008766	−0.223%	$801K	$802K	—	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008806	+0.227%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.034%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	+0.0095%	1h	0.008797	+0.122%	$685K	$759K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008805	+0.216%	$309K	$736K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008807	+0.239%	$8.7M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008807	+0.236%	$190K	$466K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008796	+0.114%	$151K	$238K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008808	+0.250%	$36.6M	$153.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008805	+0.216%	$7.7M	$47.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	+0.159%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008803	+0.193%	$12.7M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008803	+0.193%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008809	+0.262%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008802	+0.182%	—	$3.9M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008807	+0.239%	$314K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008788	+0.028%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008792	+0.068%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008804	+0.205%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009009	+2.538%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008803	+0.193%	$999	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008807	+0.239%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008800	+0.157%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008800	+0.159%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0135%	1h	0.008798	+0.141%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008797	+0.120%	$297	—	10x	as long as short
BloFin PENGU-USDTlong	+0.0340%	4h	0.008786	long leg	$1.5M	$2.8M	75x
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0711%	1h	0.008805	+0.216%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	+1.810%	$95K	$105K	50x	as long as short