Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0150%/8h= −16.4% APRpaid last 24h −0.352%

Price spread now: Binance against dYdX+0.295%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 5 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. Binance is 0.295% dearer against dYdX than usual: you sell high and buy low (spread +0.295% now, against zero (this spread has no 7-day history yet)): +$30 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 6.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX PENGU-USD	0.008802	0.0250	pay 0.0031% / 1h	29m 55s	$12K	$4K	5x
Short	Binance PENGUUSDT	0.008828	0.0100	get 0.0050% / 4h	2h 29m	$37.7M	$157.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against dYdX. 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 dYdXbpFee BinancebpOrdersPrice spread, now +0.295%Rate

Funding earned: −$31.47
Price spread: +0.295% → 0.000%: $29.51
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$21.96
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: dYdX: no order-book sample; Binance: live order book, 13 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell Binance live order book, 13 min ago	0.57 bp	10.4 bp −$10	20.5 bp −$205	69.7 bp −$6,972	doesn't fit

dYdX: 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 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	0.008811	+0.105%	$18K	$10K	10x	as long as short
Gate PENGU_USDT	+0.0006%	4h	0.008822	+0.230%	$3.4M	$15.5M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008808	+0.068%	$32K	—	150x	as long as short
Variational Omni PENGU	+0.0019%	4h	0.008791	−0.121%	$874K	$1.0M	—	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.145%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0072%	1h	0.008810	+0.093%	$202	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008825	+0.264%	$312K	$707K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008810	+0.093%	$19K	$167K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008811	+0.105%	$593K	$988K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008827	+0.286%	$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	0.008815	+0.149%	$144K	$506K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008804	+0.025%	$155K	$245K	5x	as long as short
Binance PENGUUSDTshort	+0.0100%	4h	0.008828	+0.295%	$37.7M	$157.4M	75x
Bybit PENGUUSDT	+0.0100%	4h	0.008822	+0.230%	$23.0M	$38.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008827	+0.286%	$7.5M	$47.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008810	+0.093%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008832	+0.343%	$12.0M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008822	+0.230%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008834	+0.366%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008812	+0.116%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008821	+0.218%	$302K	$307K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008784	−0.206%	$470K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008802	+0.002%	$80K	$248K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009026	+2.547%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008822	+0.230%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008823	+0.241%	$94K	$337K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008829	+0.305%	$181K	$939K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008810	+0.093%	$204K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0209%	1h	0.008831	+0.332%	$364K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008804	+0.029%	$297	—	10x	as long as short
dYdX PENGU-USDlong	+0.0250%	1h	0.008802	long leg	$12K	$4K	5x
GMX PENGU/USD [WBTC.b-USDC]	L +0.0513% / S −0.0708%	1h	0.008807	+0.059%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.877%	$95K	$100K	50x	as long as short