PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0419%/8h= +45.9% APRnext payment +$2.10 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Bybit+0.068%7-day average +0.045% · 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−$44as in the Price arb table

costs, in and out, $10k−$460.461% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.056%+$6 on $10k

Price spread, last 7 days−0.019%−$2 · spread now +0.068%, 7d avg +0.045%

Together, before fees+0.037%+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and OKX is 0.023% dearer against Bybit than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.045%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.056% in total (about 2.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.10 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PENGUUSDT	0.008767	−0.0321	get 0.0161% / 4h	4m 54s	$22.9M	$37.1M	75x
Short	OKX PENGU-USDT-SWAP	0.008773	0.0098	get 0.0049% / 4h	4m 54s	$7.5M	$47.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.068%Rate

Funding earned: $88.05
Price spread: +0.068% → +0.045%: $2.32
Slippage, 4 orders: −$25.1
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: $44.27
Costs to cover: 0.461%
Break-even: 3.5 days

Slippage from Bybit: live order book, 4 min ago; OKX: 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	9.4 bp −$9	21.0 bp −$210	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.57 bp	15.7 bp −$16	30.7 bp −$307	doesn't fit	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
Kraken Futures PF_PENGUUSD	−0.0341%	1h	0.008769	+0.025%	$368K	$2.3M	50x	as long as short
Bybit PENGUUSDTlong	−0.0321%	4h	0.008767	long leg	$22.9M	$37.1M	75x
Variational Omni PENGU	−0.0306%	4h	0.008729	−0.430%	$863K	$927K	—	as long as short
Gate PENGU_USDT	−0.0302%	4h	0.008768	+0.011%	$3.4M	$15.7M	75x	as long as short
01 Exchange PENGUUSD	−0.0272%	1h	0.008752	−0.171%	$200	$59	5x	as long as short
Backpack PENGU_USDC_PERP	−0.0163%	1h	0.008761	−0.068%	$308K	$315K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.251%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	−0.0015%	1h	0.008751	−0.183%	$696K	$777K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008759	−0.091%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008757	−0.117%	$33K	—	150x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENGU-USD	+0.0022%	1h	0.008753	−0.155%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0082%	4h	0.008733	−0.392%	$457K	$2.1M	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008765	−0.023%	$307K	$741K	8x	as long as short
OKX PENGU-USDT-SWAPshort	+0.0098%	4h	0.008773	+0.068%	$7.5M	$47.2M	50x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008755	−0.137%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008764	−0.034%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008773	+0.066%	$188K	$474K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008749	−0.205%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008770	+0.036%	$36.3M	$155.3M	75x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008750	−0.194%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008768	+0.011%	$12.4M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008770	+0.034%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008772	+0.057%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008763	−0.046%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008741	−0.297%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008963	+2.236%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008761	−0.068%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008776	+0.103%	$92K	$262K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008768	+0.009%	$180K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008755	−0.137%	$202K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008753	−0.161%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008758	−0.103%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008757	−0.114%	$111K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008768	+0.011%	$93K	$103K	50x	as long as short