Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h −0.079%

Price spread now: 01 Exchange against BloFin+0.124%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 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 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. 01 Exchange is 0.124% dearer against BloFin than usual: you sell high and buy low (spread +0.124% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENGU-USDT	0.008841	0.0340	pay 0.0170% / 4h	2h 20m	$1.5M	$4.7M	75x
Short	01 Exchange PENGUUSD	0.008852	0.0184	get 0.0023% / 1h	20m 26s	$203	$64	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.124%Rate

Funding earned: −$32.76
Price spread: +0.124% → 0.000%: $12.44
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$39.32
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 3 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 BloFin live order book, 3 min ago	1.14 bp	9.6 bp −$10	12.6 bp −$126	39.5 bp −$3,946	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	0.0000%	1h	0.008821	−0.226%	$17K	$12K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008858	+0.189%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.588%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008859	+0.204%	$321K	$750K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008855	+0.158%	$594K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008862	+0.238%	$8.1M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008855	+0.161%	$121K	$667K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008853	+0.136%	$134K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008862	+0.239%	$37.4M	$177.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008855	+0.158%	$23.5M	$42.0M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008859	+0.204%	$7.5M	$51.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008860	+0.215%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008859	+0.204%	$3.3M	$16.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008857	+0.181%	$10.5M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008848	+0.079%	$4.9M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008854	+0.147%	$8.5M	$13.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008854	+0.147%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008821	−0.226%	$291K	$338K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008816	−0.283%	$920K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008765	−0.857%	$458K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008756	−0.961%	$79K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008857	+0.181%	$23K	$174K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009033	+2.172%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008819	−0.249%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008834	−0.079%	$92K	$392K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008854	+0.147%	$182K	$876K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008815	−0.294%	$204K	—	3x	as long as short
dYdX PENGU-USD	+0.0176%	1h	0.008848	+0.076%	$12K	$6K	5x	as long as short
01 Exchange PENGUUSDshort	+0.0184%	1h	0.008852	+0.124%	$203	$64	5x
Reya PENGURUSDPERP	+0.0240%	1h	0.008855	+0.161%	$299	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0320%	1h	0.008825	−0.180%	$322K	$2.4M	50x	as long as short
BloFin PENGU-USDTlong	+0.0340%	4h	0.008841	long leg	$1.5M	$4.7M	75x
GMX PENGU/USD [WBTC.b-USDC]	L +0.0503% / S −0.0466%	1h	0.008857	+0.181%	$123K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008845	+0.045%	$78K	$76K	50x	as long as short