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: HTX against Bybit+0.420%7-day average +0.328% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$760.761% of the position

Long on Bybit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.351%+$35 on $10k

Price spread, last 3 days (all we have)−0.133%−$13 · spread now +0.420%, 7d avg +0.328%

Together, before fees+0.217%+$22 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.092% dearer against Bybit than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.328%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PENGUUSDT	0.008810	0.0100	pay 0.0050% / 4h	2h 24m	$23.1M	$38.3M	75x
Short	HTX PENGU-USDT	0.008847	0.0100	get 0.0050% / 4h	2h 24m	$94K	$337K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.420%Rate

Funding earned: $0
Price spread: +0.420% → +0.328%: $9.21
Slippage, 4 orders: −$53.06
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee HTX: 6 bp × 2 orders: −$12
Net: −$66.86
Costs to cover: 0.761%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; HTX: live order book, 43 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	10.7 bp −$11	24.1 bp −$241	132.2 bp −$13.2K	doesn't fit
Sell HTX live order book, 43 min ago	10.05 bp	25.9 bp −$26	doesn't fit	doesn't fit	doesn't fit

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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008827	+0.193%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008829	+0.213%	$33K	—	150x	as long as short
Gate PENGU_USDT	+0.0030%	4h	0.008811	+0.011%	$3.4M	$15.6M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.238%	$3K	$117K	5.5x	as long as short
Variational Omni PENGU	+0.0043%	4h	0.008835	+0.284%	$879K	$1.0M	—	as long as short
01 Exchange PENGUUSD	+0.0088%	1h	0.008815	+0.057%	$202	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008825	+0.170%	$312K	$707K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008829	+0.216%	$19K	$161K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008816	+0.065%	$594K	$988K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008825	+0.170%	$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	0.008819	+0.099%	$143K	$508K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008819	+0.102%	$155K	$245K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008816	+0.064%	$37.7M	$157.4M	75x	as long as short
Bybit PENGUUSDTlong	+0.0100%	4h	0.008810	long leg	$23.1M	$38.3M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008816	+0.068%	$7.5M	$47.6M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008810	0.000%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008811	+0.011%	$12.0M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008821	+0.125%	$4.7M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008812	+0.023%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008817	+0.079%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008815	+0.057%	$302K	$304K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008842	+0.360%	$474K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008806	−0.045%	$80K	$249K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009047	+2.690%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008825	+0.170%	$1K	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.008847	+0.420%	$94K	$337K	25x
Extended PENGU-USD	+0.0104%	1h	0.008811	+0.013%	$182K	$939K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008824	+0.159%	$204K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0209%	1h	0.008836	+0.293%	$362K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008824	+0.162%	$298	—	10x	as long as short
dYdX PENGU-USD	+0.0287%	1h	0.008823	+0.153%	$12K	$4K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0513% / S −0.0708%	1h	0.008829	+0.216%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.782%	$95K	$94K	50x	as long as short