Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Binance against Extended+0.228%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$340.340% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.181%−$18 · spread now +0.228%, 7d avg +0.041%

Together, before fees−0.186%+ Points / potential airdropExtended: Active · farm board−$19 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: Binance is 0.187% dearer against Extended than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENGU-USD	0.008875	0.0104	pay 0.0013% / 1h	4m 09s	$183K	$943K	10x
Short	Binance PENGUUSDT	0.008896	0.0100	get 0.0050% / 4h	4m 09s	$37.8M	$166.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.228%Rate

Funding earned: −$0.84
Price spread: +0.228% → +0.041%: $18.66
Slippage, 4 orders: −$19
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$16.18
Costs to cover: 0.340%
Break-even: never at this rate

Slippage from Extended: live order book, 54 min ago; Binance: live order book, 9 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, 54 min ago	0.57 bp	9.8 bp −$10	107.8 bp −$1,078	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.56 bp	7.4 bp −$7	17.6 bp −$176	65.9 bp −$6,594	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008872	−0.041%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.974%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0088%	1h	0.008881	+0.062%	$18K	$10K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008902	+0.299%	$317K	$720K	8x	as long as short
Gate PENGU_USDT	+0.0096%	4h	0.008890	+0.164%	$3.4M	$15.9M	75x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008877	+0.017%	$23K	$94K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008869	−0.067%	$596K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008899	+0.265%	$8.3M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008869	−0.069%	$127K	$599K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008860	−0.174%	$156K	$243K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDTshort	+0.0100%	4h	0.008896	+0.228%	$37.8M	$166.0M	75x
Bybit PENGUUSDT	+0.0100%	4h	0.008892	+0.186%	$23.6M	$39.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008892	+0.186%	$7.5M	$48.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008870	−0.062%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008897	+0.243%	$10.9M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008876	+0.006%	$4.8M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008901	+0.288%	$8.7M	$12.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008893	+0.198%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008892	+0.186%	$296K	$326K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008853	−0.254%	$922K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008865	−0.123%	$473K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008865	−0.118%	$80K	$242K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009090	+2.417%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008882	+0.074%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008902	+0.299%	$92K	$377K	25x	as long as short
Extended PENGU-USDlong	+0.0104%	1h	0.008875	long leg	$183K	$943K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008872	−0.039%	$205K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0112%	1h	0.008859	−0.186%	$203	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008868	−0.082%	$299	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008877	+0.017%	$1.5M	$3.7M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0360%	1h	0.008896	+0.234%	$349K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0439%	1h	0.008858	−0.200%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0572%	1h	0.008874	−0.017%	$119K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008962	+0.975%	$95K	$63K	50x	as long as short