Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.036%

Price spread now: Extended against Gate−0.025%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$510.510% of the position

Long on Gate Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.090%+$9 on $10k

Price spread, last 4 days (all we have)−0.086%−$9 · spread now −0.025%, 7d avg −0.041%

Together, before fees+0.004%+ Points / potential airdropExtended: Active · farm board$0 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PENGU_USDT	0.009033	0.0100	pay 0.0050% / 4h	1h 08m	$3.7M	$17.6M	75x
Short	Extended PENGU-USD	0.009031	0.0104	get 0.0013% / 1h	8m 38s	$185K	$523K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.025%Rate

Funding earned: $0.84
Price spread: −0.025% → −0.041%: $1.57
Slippage, 4 orders: −$30.98
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$48.57
Costs to cover: 0.510%
Break-even: 411.8 days

Slippage from Gate: live order book, 5 min ago; Extended: live order book, 34 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, 5 min ago	1.11 bp	14.7 bp −$15	47.2 bp −$472	doesn't fit	doesn't fit
Sell Extended live order book, 34 min ago	0.55 bp	9.3 bp −$9	88.9 bp −$889	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009051	+0.201%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.701%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009045	+0.133%	$325K	$771K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009051	+0.205%	$638K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009047	+0.155%	$143K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009037	+0.044%	$136K	$260K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009038	+0.058%	$39.4M	$189.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009027	−0.066%	$24.0M	$44.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009029	−0.044%	$8.0M	$54.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009040	+0.077%	$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_USDTlong	+0.0100%	4h	0.009033	long leg	$3.7M	$17.6M	75x
MEXC PENGU_USDT	+0.0100%	4h	0.009035	+0.022%	$11.0M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009044	+0.122%	$5.1M	$10.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009038	+0.055%	$8.7M	$13.9M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009030	−0.033%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009048	+0.166%	$296K	$368K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009045	+0.131%	$921K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009055	+0.244%	$475K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009057	+0.266%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009053	+0.221%	$23K	$243K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009276	+2.690%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009054	+0.232%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009063	+0.332%	$94K	$404K	25x	as long as short
Extended PENGU-USDshort	+0.0104%	1h	0.009031	−0.025%	$185K	$523K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.009050	+0.188%	$209K	—	3x	as long as short
Hyperliquid PENGU	+0.0212%	1h	0.009049	+0.177%	$9.1M	$16.3M	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009048	+0.162%	$306	—	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0302%	1h	0.009058	+0.277%	$1K	$29K	10x	as long as short
01 Exchange PENGUUSD	+0.0336%	1h	0.009060	+0.299%	$207	$60	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009051	+0.199%	$1.6M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0443% / S −0.0368%	1h	0.009050	+0.188%	$107K	—	100x	as long as short
dYdX PENGU-USD	+0.0564%	1h	0.009043	+0.112%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0673%	1h	0.009060	+0.297%	$337K	$2.5M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009135	+1.129%	$80K	$70K	50x	as long as short