Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.021%

Price spread now: Variational Omni against Extended+0.320%7-day average +0.013% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.035%−$4 on $10k

Price spread, last 4 days (all we have)+0.714%+$71 · spread now +0.320%, 7d avg +0.013%

Together, before fees+0.679%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board+$68 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: Variational Omni is 0.307% dearer against Extended than usual: you sell high and buy low, +$31 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENGU-USD	0.008792	0.0104	pay 0.0013% / 1h	9m 45s	$185K	$941K	10x
Short	Variational Omni PENGU	0.008820	0.0100	get 0.0050% / 4h	2h 09m	$876K	$999K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.320%Rate

Funding earned: −$0.84
Price spread: +0.320% → +0.013%: $30.73
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $24.89
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Extended: live order book, 58 min ago; Variational Omni: RFQ quote, 14 min ago. Net counts fees only.

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, 58 min ago	1.68 bp	10.6 bp −$11	93.3 bp −$933	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 14 min ago	3.40 bp	doesn't fit	21.6 bp −$216	doesn't fit	doesn't fit

PENGU on 33 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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008806	+0.161%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008805	+0.155%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.032%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0082%	4h	0.008790	−0.020%	$3.4M	$15.6M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008797	+0.059%	$312K	$709K	8x	as long as short
01 Exchange PENGUUSD	+0.0096%	1h	0.008813	+0.241%	$202	$64	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008808	+0.184%	$19K	$161K	20x	as long as short
Variational Omni PENGUshort	+0.0100%	4h	0.008820	+0.320%	$876K	$999K	—
Hyperliquid PENGU	+0.0100%	1h	0.008798	+0.071%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008799	+0.082%	$141K	$516K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008818	+0.298%	$155K	$245K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008796	+0.048%	$37.4M	$158.2M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008790	−0.020%	$23.1M	$38.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008791	−0.009%	$7.5M	$47.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008820	+0.321%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008794	+0.025%	$11.9M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008797	+0.059%	$4.7M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008798	+0.071%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008805	+0.150%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008796	+0.048%	$301K	$300K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008810	+0.207%	$462K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008800	+0.093%	$80K	$243K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008812	+0.230%	$594K	$994K	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009011	+2.493%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008807	+0.173%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008832	+0.457%	$94K	$337K	25x	as long as short
Extended PENGU-USDlong	+0.0104%	1h	0.008792	long leg	$185K	$941K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008801	+0.105%	$203K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008816	+0.280%	$361K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008807	+0.174%	$297	—	10x	as long as short
dYdX PENGU-USD	+0.0335%	1h	0.008818	+0.295%	$12K	$4K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0513% / S −0.0708%	1h	0.008807	+0.173%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.993%	$95K	$94K	50x	as long as short