Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Aevo against Extended−0.111%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$142as in the Price arb table

costs, in and out, $10k−$1291.289% of the position

Long on Extended Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 3 days (all we have)+0.153%+$15 · spread now −0.111%, 7d avg +0.023%

Together, before fees+0.177%+ Points / potential airdropExtended: Active · farm board+$18 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: Aevo is 0.134% cheaper against Extended than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENGU-USD	0.008647	0.0104	pay 0.0013% / 1h	53m 58s	$177K	$681K	10x
Short	Aevo PENGU-PERP	0.008637	0.0104	get 0.0013% / 1h	53m 58s	$200K	$17K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Extended. 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 ExtendedbpFee AevobpOrdersPrice spread, now −0.111%Rate

Funding earned: $0
Price spread: −0.111% → +0.023%: −$13.42
Slippage, 4 orders: −$107.88
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$142.3
Costs to cover: 1.289%
Break-even: never at this rate

Slippage from Extended: live order book, 34 min ago; Aevo: live order book, 35 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 Extended live order book, 34 min ago	1.71 bp	10.9 bp −$11	82.2 bp −$822	doesn't fit	doesn't fit
Sell Aevo live order book, 35 min ago	17.09 bp	52.3 bp −$52	313.3 bp −$3,133	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	−0.0553%	1h	0.008649	+0.027%	$383K	$2.1M	50x	as long as short
Bybit PENGUUSDT	−0.0358%	4h	0.008641	−0.065%	$22.7M	$35.6M	75x	as long as short
Backpack PENGU_USDC_PERP	−0.0344%	1h	0.008642	−0.054%	$309K	$318K	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0328%	1h	0.008640	−0.077%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0320%	4h	0.008638	−0.100%	$3.4M	$15.3M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.791%	$3K	$81K	5.5x	as long as short
01 Exchange PENGUUSD	−0.0072%	1h	0.008679	+0.374%	$199	$59	5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008658	+0.137%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008642	−0.051%	$33K	—	150x	as long as short
Nado PENGU-PERP	+0.0093%	1h	0.008623	−0.273%	$670K	$758K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENGU	+0.0096%	1h	0.008642	−0.054%	$293K	$718K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008653	+0.074%	$8.7M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008644	−0.033%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008653	+0.074%	$142K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008649	+0.027%	$35.8M	$150.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008646	−0.007%	$7.7M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008630	−0.192%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008647	+0.004%	$12.7M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008648	+0.016%	$4.7M	$8.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008651	+0.050%	$8.1M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008648	+0.016%	—	$4.0M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008676	+0.345%	$795K	$712K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008675	+0.328%	$454K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008677	+0.351%	$79K	$254K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008641	−0.065%	$21K	$185K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008835	+2.178%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008641	−0.065%	$981	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008659	+0.143%	$90K	$248K	25x	as long as short
Extended PENGU-USDlong	+0.0104%	1h	0.008647	long leg	$177K	$681K	10x
Aevo PENGU-PERPshort	+0.0104%	1h	0.008637	−0.111%	$200K	$17K	3x
Reya PENGURUSDPERP	+0.0237%	1h	0.008627	−0.223%	$291	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008675	+0.328%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0488% / S −0.0675%	1h	0.008642	−0.054%	$108K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+2.965%	$94K	$97K	50x	as long as short