Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0236%/8h= +25.8% APRpaid last 24h +0.071%

Price spread now: BloFin against Extended−0.028%7-day average +0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs+$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$410.407% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.484%+$48 on $10k

Price spread, last 3 days (all we have)+0.176%+$18 · spread now −0.028%, 7d avg +0.062%

Together, before fees+0.660%+ Points / potential airdropExtended: Active · farm board+$66 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.091% cheaper against Extended than usual: you would sell low and buy high (spread −0.028% now, against its 7-day average of +0.062%). If the spread goes back, that is −$9 on $10k: about 31 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENGU-USD	0.008662	0.0104	pay 0.0013% / 1h	2m 40s	$178K	$682K	10x
Short	BloFin PENGU-USDT	0.008660	0.0340	get 0.0170% / 4h	2h 02m	$1.5M	$2.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.028%Rate

Funding earned: $49.56
Price spread: −0.028% → +0.062%: −$9.08
Slippage, 4 orders: −$23.69
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$0.21
Costs to cover: 0.407%
Break-even: 7.0 days

Slippage from Extended: live order book, 20 min ago; BloFin: live order book, 6 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, 20 min ago	0.57 bp	9.9 bp −$10	78.9 bp −$789	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	1.15 bp	9.3 bp −$9	12.4 bp −$124	35.1 bp −$3,507	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	−0.0552%	1h	0.008666	+0.037%	$384K	$2.1M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0327%	1h	0.008665	+0.029%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0272%	4h	0.008660	−0.028%	$3.4M	$15.5M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.607%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0096%	1h	0.008665	+0.029%	$309K	$314K	10x	as long as short
01 Exchange PENGUUSD	−0.0024%	1h	0.008665	+0.029%	$198	$59	5x	as long as short
Bybit PENGUUSDT	+0.0007%	4h	0.008662	−0.005%	$22.5M	$36.0M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008665	+0.024%	$33K	—	150x	as long as short
dYdX PENGU-USD	+0.0022%	1h	0.008669	+0.074%	$11K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008668	+0.064%	$295K	$725K	8x	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	0.008660	−0.028%	$673K	$757K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008669	+0.075%	$8.6M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008667	+0.048%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008668	+0.064%	$146K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008667	+0.056%	$35.8M	$151.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008663	+0.006%	$7.7M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008660	−0.028%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008667	+0.052%	$13.0M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008667	+0.052%	$4.7M	$8.8M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008672	+0.110%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008653	−0.109%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008636	−0.310%	$798K	$726K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008640	−0.263%	$452K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008642	−0.236%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008664	+0.018%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008870	+2.396%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008662	−0.005%	$990	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008681	+0.214%	$91K	$250K	25x	as long as short
Extended PENGU-USDlong	+0.0104%	1h	0.008662	long leg	$178K	$682K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008660	−0.028%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008658	−0.048%	$292	—	10x	as long as short
BloFin PENGU-USDTshort	+0.0340%	4h	0.008660	−0.028%	$1.5M	$2.7M	75x
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0703%	1h	0.008665	+0.029%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008699	+0.422%	$93K	$97K	50x	as long as short