Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.021%

Price spread now: GRVT against Extended+0.036%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$450.449% of the position

Long on Extended Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now +0.036%, 7d avg +0.033%

Together, before fees−0.134%+ Points / potential airdropExtended: Active · GRVT: Active · farm board−$13 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENGU-USD	0.008785	0.0104	pay 0.0013% / 1h	22m 58s	$181K	$682K	10x
Short	GRVT PENGU_USDT_Perp	0.008788	0.0100	get 0.0050% / 4h	1h 22m	$460K	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$0.84
Price spread: +0.036% → +0.033%: $0.24
Slippage, 4 orders: −$30.86
Fee Extended: 2.5 bp × 2 orders: −$5
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$45.47
Costs to cover: 0.449%
Break-even: never at this rate

Slippage from Extended: live order book, 60 min ago; GRVT: live order book, 1 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, 60 min ago	0.57 bp	9.9 bp −$10	78.9 bp −$789	doesn't fit	doesn't fit
Sell GRVT live order book, 1 min ago	1.14 bp	8.7 bp −$9	31.2 bp −$312	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	−0.0606%	1h	0.008803	+0.199%	$369K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0300%	4h	0.008785	−0.004%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0149%	4h	0.008784	−0.015%	$22.9M	$36.4M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0091%	1h	0.008793	+0.087%	$19K	$9K	10x	as long as short
01 Exchange PENGUUSD	−0.0080%	1h	0.008803	+0.201%	$201	$59	5x	as long as short
Variational Omni PENGU	+0.0001%	4h	0.008766	−0.216%	$801K	$802K	—	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008795	+0.109%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.042%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	+0.0095%	1h	0.008793	+0.093%	$685K	$759K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008793	+0.087%	$308K	$736K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008793	+0.087%	$8.7M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008796	+0.124%	$189K	$466K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008790	+0.053%	$151K	$238K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008792	+0.076%	$36.5M	$152.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008784	−0.015%	$7.7M	$47.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	+0.167%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008789	+0.042%	$12.7M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008793	+0.087%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008787	+0.019%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008775	−0.118%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008790	+0.053%	$314K	$309K	10x	as long as short
GRVT PENGU_USDT_Perpshort	+0.0100%	4h	0.008788	+0.036%	$460K	$2.3M	10x
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008792	+0.076%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008793	+0.087%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008996	+2.398%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008789	+0.042%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008815	+0.337%	$92K	$249K	25x	as long as short
Extended PENGU-USDlong	+0.0104%	1h	0.008785	long leg	$181K	$682K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008786	+0.007%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0139%	1h	0.008787	+0.023%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008791	+0.065%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008786	+0.007%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0711%	1h	0.008794	+0.098%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	+1.817%	$95K	$105K	50x	as long as short