Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0236%/8h= −25.8% APRpaid last 24h −0.071%

Price spread now: Extended against BloFin+0.079%7-day average −0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$420.424% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.483%−$48 on $10k

Price spread, last 3 days (all we have)−0.209%−$21 · spread now +0.079%, 7d avg −0.066%

Together, before fees−0.693%+ Points / potential airdropExtended: Active · farm board−$69 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.145% dearer against BloFin than usual: you sell high and buy low (spread +0.079% now, against its 7-day average of −0.066%): +$14 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 2.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENGU-USDT	0.008824	0.0340	pay 0.0170% / 4h	1h 42m	$1.5M	$2.7M	75x
Short	Extended PENGU-USD	0.008831	0.0104	get 0.0013% / 1h	42m 41s	$181K	$682K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.079%Rate

Funding earned: −$49.56
Price spread: +0.079% → −0.066%: $14.5
Slippage, 4 orders: −$25.39
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$77.45
Costs to cover: 0.424%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Extended: live order book, 40 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	1.71 bp	9.1 bp −$9	14.7 bp −$147	39.3 bp −$3,933	doesn't fit
Sell Extended live order book, 40 min ago	0.57 bp	9.9 bp −$10	66.0 bp −$660	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
Kraken Futures PF_PENGUUSD	−0.0604%	1h	0.008831	+0.084%	$374K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0296%	4h	0.008830	+0.068%	$3.5M	$15.5M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0090%	1h	0.008822	−0.023%	$19K	$9K	10x	as long as short
01 Exchange PENGUUSD	−0.0080%	1h	0.008833	+0.102%	$202	$59	5x	as long as short
Bybit PENGUUSDT	−0.0050%	4h	0.008815	−0.102%	$22.9M	$36.1M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008823	−0.012%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	−1.235%	$3K	$81K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008826	+0.023%	$302K	$726K	8x	as long as short
Nado PENGU-PERP	+0.0098%	1h	0.008823	−0.006%	$683K	$757K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008835	+0.125%	$8.8M	$15.0M	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008837	+0.146%	$175K	$449K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008824	0.000%	$149K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008824	0.000%	$36.5M	$151.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008821	−0.034%	$7.7M	$47.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008830	+0.068%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008824	0.000%	$13.1M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008824	0.000%	$4.8M	$8.8M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008829	+0.057%	$8.4M	$12.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008824	0.000%	—	$3.9M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008824	0.000%	$315K	$309K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008772	−0.593%	$801K	$735K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008809	−0.171%	$461K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008809	−0.170%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008823	−0.011%	$24K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009044	+2.493%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008821	−0.034%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008848	+0.272%	$92K	$250K	25x	as long as short
Extended PENGU-USDshort	+0.0104%	1h	0.008831	+0.079%	$181K	$682K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008817	−0.079%	$204K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0136%	1h	0.008833	+0.102%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008822	−0.020%	$298	—	10x	as long as short
BloFin PENGU-USDTlong	+0.0340%	4h	0.008824	long leg	$1.5M	$2.7M	75x
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0711%	1h	0.008822	−0.023%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008854	+0.340%	$95K	$101K	50x	as long as short