Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.028%

Price spread now: OKX against gTrade (Gains Network)+0.069%7-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 OKX

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 +$3 a day on $10k at the current rate, and OKX is 0.069% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PENGU/USD	0.009052	L +0.0007% / S −0.0003%	pay 0.0001% / 1h	7m 09s	$33K	—	150x
Short	OKX PENGU-USDT-SWAP	0.009058	0.0100	get 0.0050% / 4h	1h 07m	$8.0M	$54.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.069%Rate

Funding earned: $19.52
Price spread: +0.069% → 0.000%: $6.88
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $6.41
Costs to cover: 0.200%
Break-even: 4.7 days

Slippage unknown: gTrade (Gains Network): no order-book sample; OKX: live order book, 2 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 OKX live order book, 2 min ago	0.55 bp	10.0 bp −$10	28.1 bp −$281	doesn't fit	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	0.009052	long leg	$33K	—	150x
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.903%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009069	+0.190%	$326K	$771K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009043	−0.097%	$638K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009067	+0.170%	$143K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009038	−0.152%	$136K	$260K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009067	+0.168%	$39.6M	$189.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009055	+0.036%	$24.0M	$44.3M	75x	as long as short
OKX PENGU-USDT-SWAPshort	+0.0100%	4h	0.009058	+0.069%	$8.0M	$54.8M	50x
Arcus PENGU-USD	+0.0100%	1h	0.009050	−0.020%	$18K	$25K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENGU_USDT	+0.0100%	4h	0.009055	+0.036%	$3.7M	$17.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009066	+0.157%	$11.0M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009061	+0.102%	$5.1M	$10.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009068	+0.179%	$8.7M	$13.9M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009046	−0.064%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009059	+0.080%	$296K	$368K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009045	−0.077%	$921K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009042	−0.107%	$474K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009053	+0.014%	$79K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009058	+0.069%	$23K	$243K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009274	+2.455%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009063	+0.124%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009070	+0.201%	$94K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009056	+0.046%	$185K	$523K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009055	+0.036%	$209K	—	3x	as long as short
Hyperliquid PENGU	+0.0204%	1h	0.009070	+0.201%	$9.1M	$16.3M	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009049	−0.034%	$306	—	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0302%	1h	0.009063	+0.124%	$1K	$29K	10x	as long as short
01 Exchange PENGUUSD	+0.0328%	1h	0.009051	−0.009%	$207	$60	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009063	+0.124%	$1.6M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0443% / S −0.0368%	1h	0.009052	+0.003%	$107K	—	100x	as long as short
dYdX PENGU-USD	+0.0562%	1h	0.009035	−0.184%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0673%	1h	0.009070	+0.203%	$337K	$2.5M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009135	+0.919%	$80K	$70K	50x	as long as short