Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.035%

Price spread now: ApeX Omni against Gate+0.216%7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$630.630% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$11 on $10k

Price spread, last 4 days (all we have)+0.157%+$16 · spread now +0.216%, 7d avg +0.059%

Together, before fees+0.262%+$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and ApeX Omni is 0.157% dearer against Gate than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PENGU_USDT	0.008781	0	get 0.0000% / 4h	1h 17m	$3.3M	$15.7M	75x
Short	ApeX Omni PENGUUSDT	0.008800	0.0100	get 0.0013% / 1h	17m 07s	$80K	$243K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now +0.216%Rate

Funding earned: $21
Price spread: +0.216% → +0.059%: $15.75
Slippage, 4 orders: −$37.98
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$26.23
Costs to cover: 0.630%
Break-even: 15.7 days

Slippage from Gate: live order book, 2 min ago; ApeX Omni: live order book, 44 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 Gate live order book, 2 min ago	2.85 bp	15.6 bp −$16	45.8 bp −$458	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 44 min ago	7.39 bp	15.8 bp −$16	101.6 bp −$1,016	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
01 Exchange PENGUUSD	−0.0040%	1h	0.008772	−0.102%	$201	$64	5x	as long as short
Gate PENGU_USDTlong	0.0000%	4h	0.008781	long leg	$3.3M	$15.7M	75x
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008779	−0.023%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008776	−0.059%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.091%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008784	+0.034%	$313K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008779	−0.023%	$23K	$165K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008769	−0.142%	$587K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008785	+0.046%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008782	+0.008%	$121K	$578K	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	0.008776	−0.057%	$154K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008783	+0.023%	$36.7M	$160.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008776	−0.057%	$23.3M	$38.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008781	0.000%	$7.4M	$46.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008770	−0.125%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008783	+0.023%	$11.4M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008780	−0.011%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008784	+0.034%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008773	−0.091%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008781	0.000%	$300K	$293K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008794	+0.147%	$874K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008781	0.000%	$458K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDTshort	+0.0100%	1h	0.008800	+0.216%	$80K	$243K	50x
SunX PENGU-USDT	+0.0100%	4h	0.008991	+2.392%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008778	−0.034%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008791	+0.114%	$92K	$354K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008776	−0.060%	$185K	$945K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008771	−0.114%	$203K	—	3x	as long as short
dYdX PENGU-USD	+0.0219%	1h	0.008774	−0.076%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008767	−0.158%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008773	−0.091%	$1.5M	$3.5M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0555% / S −0.0662%	1h	0.008776	−0.057%	$132K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0648%	1h	0.008784	+0.039%	$351K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.118%	$95K	$94K	50x	as long as short