Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0308%/8h= −33.7% APRpaid last 24h +0.019%

Price spread now: 01 Exchange against Bybit+0.079%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. 01 Exchange is 0.079% dearer against Bybit than usual: you sell high and buy low (spread +0.079% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PENGUUSDT	0.008902	0.0100	pay 0.0050% / 4h	3h 16m	$23.4M	$37.4M	75x
Short	01 Exchange PENGUUSD	0.008909	−0.0208	pay 0.0026% / 1h	16m 30s	$204	$59	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.079%Rate

Funding earned: −$64.68
Price spread: +0.079% → 0.000%: $7.86
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$74.82
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; 01 Exchange: no order-book sample. Net counts fees only.

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	1.13 bp	11.3 bp −$11	25.2 bp −$252	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0389%	1h	0.008880	−0.251%	$371K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0348%	4h	0.008898	−0.045%	$3.5M	$15.8M	75x	as long as short
01 Exchange PENGUUSDshort	−0.0208%	1h	0.008909	+0.079%	$204	$59	5x
Variational Omni PENGU	−0.0171%	4h	0.008882	−0.224%	$913K	$970K	—	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008869	−0.371%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008870	−0.364%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.269%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0081%	1h	0.008896	−0.064%	$12K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008901	−0.011%	$309K	$730K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008869	−0.371%	$24K	$175K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0100%	1h	0.008906	+0.042%	$705K	$766K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008892	−0.112%	$8.3M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008893	−0.097%	$190K	$465K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008896	−0.067%	$153K	$240K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008909	+0.075%	$37.4M	$155.4M	75x	as long as short
Bybit PENGUUSDTlong	+0.0100%	4h	0.008902	long leg	$23.4M	$37.4M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008914	+0.135%	$7.7M	$48.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008900	−0.022%	$20K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008902	0.000%	$13.1M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008894	−0.090%	$4.8M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008907	+0.056%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008892	−0.112%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008874	−0.315%	$305K	$323K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008865	−0.410%	$470K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008887	−0.169%	$81K	$255K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009078	+1.977%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008867	−0.393%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008882	−0.225%	$91K	$300K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008900	−0.026%	$183K	$935K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008859	−0.483%	$205K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008868	−0.384%	$299	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008882	−0.225%	$1.5M	$2.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0520% / S −0.0723%	1h	0.008868	−0.382%	$117K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008967	+0.730%	$95K	$104K	50x	as long as short