Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0484%/8h= +53.0% APRpaid last 24h +0.035%

Price spread now: SoDEX against Gate+0.011%7-day average — · you sell dearer than you buy

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

Long on Gate Short on SoDEX

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$15 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PENGU_USDT	0.008866	−0.0384	get 0.0192% / 4h	3h 17m	$3.5M	$15.8M	75x
Short	SoDEX PENGU-USD	0.008867	0.0100	get 0.0013% / 1h	17m 22s	$1K	$5K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.011%Rate

Funding earned: $101.64
Price spread: +0.011% → 0.000%: $1.13
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $79.77
Costs to cover: 0.230%
Break-even: 1.5 days

Slippage unknown: Gate: live order book, 1 min ago; SoDEX: no order-book sample. 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 Gate live order book, 1 min ago	3.39 bp	15.1 bp −$15	48.7 bp −$487	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
Kraken Futures PF_PENGUUSD	−0.0389%	1h	0.008880	+0.154%	$371K	$2.3M	50x	as long as short
Gate PENGU_USDTlong	−0.0384%	4h	0.008866	long leg	$3.5M	$15.8M	75x
01 Exchange PENGUUSD	−0.0208%	1h	0.008861	−0.056%	$203	$59	5x	as long as short
Variational Omni PENGU	−0.0171%	4h	0.008882	+0.181%	$913K	$970K	—	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008869	+0.034%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008870	+0.040%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.868%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0076%	1h	0.008861	−0.059%	$12K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008872	+0.068%	$308K	$730K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008869	+0.034%	$24K	$175K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0100%	1h	0.008867	+0.011%	$702K	$766K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008873	+0.079%	$8.3M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008872	+0.071%	$190K	$465K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008861	−0.056%	$153K	$240K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008874	+0.095%	$37.3M	$155.4M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008869	+0.034%	$23.3M	$37.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008864	−0.023%	$7.7M	$47.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008870	+0.045%	$20K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008866	0.000%	$13.1M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008866	0.000%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008871	+0.056%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008855	−0.124%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008872	+0.068%	$305K	$323K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008865	−0.006%	$470K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008887	+0.237%	$81K	$255K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009078	+2.391%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USDshort	+0.0100%	1h	0.008867	+0.011%	$1K	$5K	5x
HTX PENGU-USDT	+0.0100%	4h	0.008882	+0.180%	$91K	$300K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008864	−0.021%	$183K	$935K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008859	−0.079%	$205K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008868	+0.020%	$299	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008882	+0.180%	$1.5M	$2.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0520% / S −0.0723%	1h	0.008868	+0.023%	$117K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008967	+1.139%	$95K	$104K	50x	as long as short