Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0087%/8h= −9.5% APRpaid last 24h −0.336%

Price spread now: HTX against dYdX+0.349%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 HTX

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. HTX is 0.349% dearer against dYdX than usual: you sell high and buy low (spread +0.349% now, against zero (this spread has no 7-day history yet)): +$35 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX PENGU-USD	0.008704	0.0187	pay 0.0023% / 1h	37m 40s	$11K	$4K	5x
Short	HTX PENGU-USDT	0.008734	0.0100	get 0.0050% / 4h	1h 37m	$91K	$348K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.349%Rate

Funding earned: −$18.31
Price spread: +0.349% → 0.000%: $34.89
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$5.41
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: dYdX: no order-book sample; HTX: live order book, 25 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 HTX live order book, 25 min ago	14.73 bp	24.0 bp −$24	doesn't fit	doesn't fit	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 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
Deribit PENGU_USDC-PERPETUAL	−0.0209%	1h	0.008707	+0.039%	$18K	$10K	10x	as long as short
01 Exchange PENGUUSD	−0.0032%	1h	0.008715	+0.131%	$199	$64	5x	as long as short
Gate PENGU_USDT	−0.0002%	4h	0.008708	+0.050%	$3.3M	$15.6M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008710	+0.076%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.981%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008710	+0.073%	$309K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008709	+0.062%	$23K	$166K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008717	+0.159%	$585K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008709	+0.062%	$8.1M	$14.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008710	+0.072%	$120K	$577K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008709	+0.062%	$153K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008706	+0.027%	$36.4M	$159.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008709	+0.062%	$23.2M	$38.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008712	+0.096%	$7.4M	$46.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008710	+0.073%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008704	+0.004%	$11.4M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008708	+0.050%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008715	+0.131%	$8.2M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008711	+0.085%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008698	−0.065%	$298K	$275K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008712	+0.094%	$866K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008753	+0.572%	$457K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008758	+0.625%	$80K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008911	+2.383%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008702	−0.019%	$1K	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.008734	+0.349%	$91K	$348K	25x
Extended PENGU-USD	+0.0104%	1h	0.008711	+0.080%	$179K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008696	−0.088%	$201K	—	3x	as long as short
dYdX PENGU-USDlong	+0.0187%	1h	0.008704	long leg	$11K	$4K	5x
Reya PENGURUSDPERP	+0.0239%	1h	0.008708	+0.052%	$294	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008706	+0.027%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0582%	1h	0.008711	+0.085%	$118K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0653%	1h	0.008709	+0.063%	$355K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+3.026%	$95K	$94K	50x	as long as short