Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0101%/8h= −11.1% APRpaid last 24h −0.032%

Price spread now: Reya against BloFin+0.279%7-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 Reya

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Reya is 0.279% dearer against BloFin than usual: you sell high and buy low (spread +0.279% now, against zero (this spread has no 7-day history yet)): +$28 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 9.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENGU-USDT	0.008828	0.0340	pay 0.0170% / 4h	24m 48s	$1.5M	$3.7M	75x
Short	Reya PENGURUSDPERP	0.008853	0.0239	get 0.0030% / 1h	24m 48s	$299	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.279%Rate

Funding earned: −$21.21
Price spread: +0.279% → 0.000%: $27.87
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$11.34
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: BloFin: live order book, 9 min ago; Reya: 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, 9 min ago	1.14 bp	8.0 bp −$8	13.3 bp −$133	41.7 bp −$4,165	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	0.0000%	1h	0.008842	+0.159%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008844	+0.178%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.442%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0068%	4h	0.008819	−0.102%	$3.3M	$15.7M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008821	−0.079%	$314K	$719K	8x	as long as short
01 Exchange PENGUUSD	+0.0096%	1h	0.008851	+0.261%	$202	$64	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008841	+0.147%	$23K	$123K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008847	+0.218%	$597K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008825	−0.034%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008821	−0.079%	$118K	$589K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008842	+0.159%	$156K	$241K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008815	−0.144%	$36.9M	$163.4M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008811	−0.193%	$23.3M	$39.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008816	−0.136%	$7.4M	$47.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008850	+0.249%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008819	−0.102%	$10.9M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008819	−0.102%	$4.9M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008820	−0.091%	$8.3M	$12.3M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008811	−0.193%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008812	−0.181%	$299K	$312K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008840	+0.134%	$918K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008868	+0.452%	$462K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008860	+0.362%	$80K	$242K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009055	+2.571%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008841	+0.147%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008860	+0.362%	$92K	$372K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008819	−0.103%	$185K	$946K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008835	+0.079%	$204K	—	3x	as long as short
Reya PENGURUSDPERPshort	+0.0239%	1h	0.008853	+0.279%	$299	—	10x
BloFin PENGU-USDTlong	+0.0340%	4h	0.008828	long leg	$1.5M	$3.7M	75x
Kraken Futures PF_PENGUUSD	+0.0362%	1h	0.008851	+0.255%	$346K	$2.3M	50x	as long as short
dYdX PENGU-USD	+0.0506%	1h	0.008817	−0.128%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0516% / S −0.0584%	1h	0.008842	+0.159%	$120K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008950	+1.382%	$96K	$62K	50x	as long as short