Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.017%

Price spread now: 01 Exchange against Gate+0.311%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 01 Exchange

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 +$5 a day on $10k at the current rate, and 01 Exchange is 0.311% dearer against Gate than usual: you sell high and buy low: +$31 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	Gate PENGU_USDT	0.008669	−0.0316	get 0.0158% / 4h	2h 58m	$3.4M	$15.3M	75x
Short	01 Exchange PENGUUSD	0.008696	−0.0136	pay 0.0017% / 1h	58m 07s	$199	$59	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.311%Rate

Funding earned: $37.8
Price spread: +0.311% → 0.000%: $31.15
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: $46.95
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Gate: live order book, 6 min ago; 01 Exchange: 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, 6 min ago	2.87 bp	15.5 bp −$16	35.7 bp −$357	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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	−0.0551%	1h	0.008682	+0.152%	$384K	$2.2M	50x	as long as short
Backpack PENGU_USDC_PERP	−0.0433%	1h	0.008670	+0.012%	$310K	$324K	10x	as long as short
Bybit PENGUUSDT	−0.0351%	4h	0.008672	+0.035%	$22.8M	$35.6M	75x	as long as short
Gate PENGU_USDTlong	−0.0316%	4h	0.008669	long leg	$3.4M	$15.3M	75x
Deribit PENGU_USDC-PERPETUAL	−0.0210%	1h	0.008684	+0.173%	$21K	$8K	10x	as long as short
01 Exchange PENGUUSDshort	−0.0136%	1h	0.008696	+0.311%	$199	$59	5x
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.531%	$3K	$81K	5.5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008702	+0.375%	$11K	$5K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008694	+0.283%	$33K	—	150x	as long as short
Lighter PENGU	+0.0096%	1h	0.008677	+0.092%	$294K	$718K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008679	+0.115%	$8.7M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008685	+0.183%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008700	+0.358%	$143K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008680	+0.127%	$35.9M	$150.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008677	+0.092%	$7.7M	$46.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008700	+0.358%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008672	+0.035%	$12.8M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008671	+0.023%	$4.8M	$8.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008674	+0.058%	$8.1M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008671	+0.023%	—	$4.0M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008738	+0.792%	$802K	$708K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008715	+0.530%	$456K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008718	+0.565%	$79K	$254K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008693	+0.283%	$675K	$766K	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008687	+0.208%	$21K	$185K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008895	+2.607%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008676	+0.081%	$982	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008714	+0.519%	$91K	$248K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008674	+0.058%	$178K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008676	+0.081%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008692	+0.263%	$294	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008711	+0.484%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0490% / S −0.0675%	1h	0.008692	+0.265%	$109K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+2.699%	$94K	$97K	50x	as long as short