Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: Binance against Bybit+0.045%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$380.376% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.119%+$12 on $10k

Price spread, last 7 days+0.002%$0 · spread now +0.045%, 7d avg +0.047%

Together, before fees+0.121%+$12 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PENGUUSDT	0.008741	0.0100	pay 0.0050% / 4h	1h 43m	$23.3M	$38.6M	75x
Short	Binance PENGUUSDT	0.008745	0.0100	get 0.0050% / 4h	1h 43m	$36.7M	$159.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bybit. 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 BybitbpFee BinancebpOrdersPrice spread, now +0.045%Rate

Funding earned: $0
Price spread: +0.045% → +0.047%: −$0.17
Slippage, 4 orders: −$16.59
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$37.77
Costs to cover: 0.376%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Binance: live order book, 15 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 Bybit live order book, 5 min ago	0.57 bp	9.7 bp −$10	24.8 bp −$248	91.4 bp −$9,144	doesn't fit
Sell Binance live order book, 15 min ago	0.57 bp	7.9 bp −$8	18.2 bp −$182	62.0 bp −$6,202	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	−0.0094%	1h	0.008728	−0.149%	$18K	$10K	10x	as long as short
01 Exchange PENGUUSD	−0.0008%	1h	0.008742	+0.011%	$200	$64	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008723	−0.207%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0026%	4h	0.008742	+0.011%	$3.4M	$15.6M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.549%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008745	+0.046%	$311K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008725	−0.183%	$23K	$165K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008745	+0.051%	$588K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008740	−0.011%	$8.1M	$14.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008743	+0.023%	$131K	$574K	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	0.008743	+0.023%	$154K	$243K	5x	as long as short
Binance PENGUUSDTshort	+0.0100%	4h	0.008745	+0.045%	$36.7M	$159.4M	75x
Bybit PENGUUSDTlong	+0.0100%	4h	0.008741	long leg	$23.3M	$38.6M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008743	+0.023%	$7.5M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	−0.011%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008743	+0.023%	$11.6M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008741	0.000%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008748	+0.080%	$8.2M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008744	+0.034%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008727	−0.160%	$299K	$275K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008701	−0.458%	$863K	$986K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008688	−0.603%	$455K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008710	−0.355%	$79K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008928	+2.139%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008725	−0.183%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008743	+0.023%	$91K	$348K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008741	−0.004%	$183K	$941K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008721	−0.229%	$201K	—	3x	as long as short
dYdX PENGU-USD	+0.0210%	1h	0.008745	+0.048%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008746	+0.054%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008710	−0.355%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0582%	1h	0.008723	−0.206%	$119K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0652%	1h	0.008730	−0.121%	$357K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.586%	$95K	$94K	50x	as long as short