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: BingX against Bybit+0.023%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$420.420% of the position

Long on Bybit Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.136%+$14 on $10k

Price spread, last 7 days+0.013%+$1 · spread now +0.023%, 7d avg +0.041%

Together, before fees+0.149%+$15 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PENGUUSDT	0.008796	0.0100	pay 0.0050% / 4h	2h 31m	$23.0M	$38.2M	75x
Short	BingX PENGU-USDT	0.008798	0.0100	get 0.0050% / 4h	2h 31m	—	$3.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.023%Rate

Funding earned: $0
Price spread: +0.023% → +0.041%: −$1.81
Slippage, 4 orders: −$21.04
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BingX: 5 bp × 2 orders: −$10
Net: −$43.85
Costs to cover: 0.420%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; BingX: live order book, 8 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, 2 min ago	0.57 bp	12.3 bp −$12	24.7 bp −$247	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	1.14 bp	7.8 bp −$8	17.1 bp −$171	70.6 bp −$7,059	297.7 bp −$148.9K

PENGU on 33 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
Variational Omni PENGU	−0.0010%	4h	0.008770	−0.294%	$872K	$1.0M	—	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008812	+0.182%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008809	+0.151%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0010%	4h	0.008796	0.000%	$3.4M	$15.5M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.080%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0072%	1h	0.008803	+0.080%	$201	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008804	+0.091%	$311K	$707K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008810	+0.159%	$19K	$168K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008817	+0.239%	$594K	$991K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008803	+0.080%	$8.3M	$14.9M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008801	+0.058%	$143K	$506K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008798	+0.023%	$155K	$245K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008803	+0.075%	$37.6M	$157.4M	75x	as long as short
Bybit PENGUUSDTlong	+0.0100%	4h	0.008796	long leg	$23.0M	$38.2M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008798	+0.023%	$7.5M	$47.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	+0.045%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008798	+0.023%	$12.0M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008803	+0.080%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008803	+0.080%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDTshort	+0.0100%	4h	0.008798	+0.023%	—	$3.6M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008803	+0.080%	$302K	$313K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008784	−0.140%	$470K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008802	+0.068%	$80K	$248K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009025	+2.603%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008809	+0.148%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008823	+0.307%	$94K	$337K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008798	+0.019%	$181K	$939K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008804	+0.091%	$203K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008818	+0.246%	$363K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008815	+0.211%	$298	—	10x	as long as short
dYdX PENGU-USD	+0.0247%	1h	0.008802	+0.070%	$12K	$4K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0513% / S −0.0708%	1h	0.008812	+0.182%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.944%	$95K	$100K	50x	as long as short