Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: HTX against Extended+0.281%7-day average +0.330% · you sell dearer than you buy

Net, funding: paid 7d − costs−$154as in the Funding arb table

Net, price: spread back to 7d avg − costs−$182as in the Price arb table

costs, in and out, $10k−$1771.775% of the position

Long on Extended Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.235%+$24 on $10k

Price spread, last 3 days (all we have)−0.006%−$1 · spread now +0.281%, 7d avg +0.330%

Together, before fees+0.229%+ Points / potential airdropExtended: Active · farm board+$23 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: HTX is 0.049% cheaper against Extended than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.330%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENGU-USD	0.008658	0.0104	pay 0.0013% / 1h	1m 51s	$178K	$682K	10x
Short	HTX PENGU-USDT	0.008682	0.0100	get 0.0050% / 4h	2h 01m	$91K	$250K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.281%Rate

Funding earned: −$0.84
Price spread: +0.281% → +0.330%: −$4.89
Slippage, 4 orders: −$160.48
Fee Extended: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$183.21
Costs to cover: 1.775%
Break-even: never at this rate

Slippage from Extended: live order book, 21 min ago; HTX: live order book, 20 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, 21 min ago	0.57 bp	9.9 bp −$10	78.9 bp −$789	doesn't fit	doesn't fit
Sell HTX live order book, 20 min ago	11.45 bp	140.2 bp −$140	doesn't fit	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	−0.0552%	1h	0.008667	+0.109%	$384K	$2.1M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0442%	1h	0.008664	+0.073%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0272%	4h	0.008658	+0.003%	$3.4M	$15.5M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.662%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0095%	1h	0.008663	+0.061%	$309K	$314K	10x	as long as short
01 Exchange PENGUUSD	−0.0024%	1h	0.008669	+0.131%	$198	$59	5x	as long as short
Bybit PENGUUSDT	0.0000%	4h	0.008657	−0.008%	$22.5M	$35.9M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008670	+0.138%	$33K	—	150x	as long as short
dYdX PENGU-USD	+0.0022%	1h	0.008669	+0.129%	$11K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008666	+0.096%	$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	0.008663	+0.067%	$673K	$757K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008663	+0.061%	$8.6M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008667	+0.107%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008668	+0.119%	$146K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008661	+0.044%	$35.8M	$151.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008658	+0.003%	$7.7M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008660	+0.027%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008661	+0.038%	$13.0M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008664	+0.073%	$4.7M	$8.8M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008666	+0.096%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008653	−0.054%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008636	−0.255%	$798K	$726K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008640	−0.208%	$452K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008642	−0.181%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008669	+0.131%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008875	+2.510%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008662	+0.050%	$987	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.008682	+0.281%	$91K	$250K	25x
Extended PENGU-USDlong	+0.0104%	1h	0.008658	long leg	$178K	$682K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008661	+0.038%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008663	+0.064%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008660	+0.027%	$1.5M	$2.7M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0703%	1h	0.008670	+0.142%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008699	+0.477%	$93K	$97K	50x	as long as short