Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0333%/8h= +36.5% APRpaid last 24h +0.100%

Price spread now: BloFin against gTrade (Gains Network)+0.109%50s7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and BloFin is 0.109% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$11 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PENGU/USD	0.008839	L +0.0007% / S −0.0003%	pay 0.0001% / 1h	25m 51s	$33K	—	150x
Short	BloFin PENGU-USDT	0.008849	0.0340	get 0.0170% / 4h	25m 51s	$1.5M	$3.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BloFinbpOrdersPrice spread, now +0.109%Rate

Funding earned: $69.92
Price spread: +0.109% → 0.000%: $10.89
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $58.82
Costs to cover: 0.220%
Break-even: 1.1 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BloFin: live order book, 7 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell BloFin live order book, 7 min ago	1.14 bp	14.4 bp −$14	26.2 bp −$262	64.4 bp −$6,436	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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/USDlong	L +0.0007% / S −0.0003%	1h	0.008839	long leg	$33K	—	150x
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.570%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0068%	4h	0.008836	−0.038%	$3.3M	$15.7M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0089%	1h	0.008846	+0.075%	$18K	$10K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008852	+0.143%	$315K	$718K	8x	as long as short
01 Exchange PENGUUSD	+0.0096%	1h	0.008827	−0.140%	$202	$64	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008845	+0.064%	$23K	$123K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008837	−0.021%	$596K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008837	−0.027%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008854	+0.162%	$119K	$589K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008836	−0.038%	$155K	$241K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008834	−0.056%	$37.0M	$163.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008827	−0.140%	$23.4M	$39.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008831	−0.095%	$7.4M	$47.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008830	−0.106%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008838	−0.015%	$10.9M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008851	+0.132%	$4.9M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008831	−0.095%	$8.3M	$12.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008836	−0.038%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008847	+0.086%	$300K	$312K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008840	+0.006%	$918K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008854	+0.162%	$461K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008885	+0.516%	$81K	$242K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009055	+2.439%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008846	+0.075%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008856	+0.188%	$92K	$371K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008834	−0.058%	$185K	$946K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008840	+0.007%	$204K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008836	−0.042%	$298	—	10x	as long as short
BloFin PENGU-USDTshort	+0.0340%	4h	0.008849	+0.109%	$1.5M	$3.7M	75x
Kraken Futures PF_PENGUUSD	+0.0362%	1h	0.008855	+0.174%	$346K	$2.3M	50x	as long as short
dYdX PENGU-USD	+0.0504%	1h	0.008829	−0.114%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0515% / S −0.0584%	1h	0.008837	−0.027%	$120K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008950	+1.252%	$96K	$62K	50x	as long as short