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: Bitget against Bybit+0.080%7-day average +0.099% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$490.494% of the position

Long on Bybit Short on Bitget

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+0.026%+$3 · spread now +0.080%, 7d avg +0.099%

Together, before fees+0.162%+$16 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	54m 39s	$23.1M	$39.0M	75x
Short	Bitget PENGUUSDT	0.008748	0.0100	get 0.0050% / 4h	54m 39s	$8.2M	$12.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.080%Rate

Funding earned: $0
Price spread: +0.080% → +0.099%: −$1.92
Slippage, 4 orders: −$26.4
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$51.32
Costs to cover: 0.494%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Bitget: live order book, 4 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, 4 min ago	0.57 bp	11.7 bp −$12	26.3 bp −$263	119.9 bp −$12.0K	doesn't fit
Sell Bitget live order book, 4 min ago	1.14 bp	13.2 bp −$13	27.1 bp −$271	87.8 bp −$8,783	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
ApeX Omni PENGUUSDT	−0.0359%	1h	0.008737	−0.046%	$80K	$242K	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008744	+0.034%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008742	+0.007%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0010%	4h	0.008743	+0.023%	$3.3M	$15.5M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.549%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0072%	1h	0.008746	+0.057%	$200	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008754	+0.149%	$311K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008746	+0.057%	$23K	$134K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008744	+0.040%	$586K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008752	+0.126%	$8.1M	$14.7M	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	0.008754	+0.147%	$121K	$579K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008749	+0.092%	$154K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008745	+0.046%	$36.4M	$161.3M	75x	as long as short
Bybit PENGUUSDTlong	+0.0100%	4h	0.008741	long leg	$23.1M	$39.0M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008743	+0.023%	$7.2M	$46.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008750	+0.103%	$19K	$23K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008746	+0.057%	$11.2M	$12.2M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008749	+0.092%	$4.8M	$9.2M	75x	as long as short
Bitget PENGUUSDTshort	+0.0100%	4h	0.008748	+0.080%	$8.2M	$12.3M	75x
BingX PENGU-USDT	+0.0100%	4h	0.008743	+0.023%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008748	+0.080%	$299K	$295K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008747	+0.069%	$870K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008757	+0.181%	$460K	$2.1M	10x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008959	+2.494%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008743	+0.023%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008756	+0.172%	$91K	$371K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008742	+0.011%	$184K	$942K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008743	+0.023%	$202K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008736	−0.055%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008738	−0.034%	$1.5M	$3.5M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0366%	1h	0.008753	+0.134%	$343K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0442%	1h	0.008753	+0.134%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0439%	1h	0.008741	0.000%	$128K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008967	+2.586%	$95K	$61K	50x	as long as short