Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.020%

Price spread now: Arcus against GRVT−0.172%54s7-day average — · you buy dearer than you sell

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

Long on GRVT Short on Arcus

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Arcus is 0.172% cheaper against GRVT than usual: you would sell low and buy high, −$17 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT PENGU_USDT_Perp	0.008715	0.0100	pay 0.0050% / 4h	2h 58m	$456K	$2.4M	10x
Short	Arcus PENGU-USD	0.008700	0.0100	get 0.0013% / 1h	58m 13s	$19K	$24K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against GRVT. 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 GRVTbpFee ArcusbpOrdersPrice spread, now −0.172%Rate

Funding earned: $0
Price spread: −0.172% → 0.000%: −$17.19
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$30.69
Costs to cover: 0.135%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 5 min ago; Arcus: 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 GRVT live order book, 5 min ago	1.72 bp	15.8 bp −$16	41.0 bp −$410	doesn't fit	doesn't fit
Sell Arcus no order-book sample	—	—	—	—	—

Arcus: 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
Backpack PENGU_USDC_PERP	−0.0592%	1h	0.008700	−0.172%	$311K	$324K	10x	as long as short
Kraken Futures PF_PENGUUSD	−0.0551%	1h	0.008682	−0.377%	$384K	$2.2M	50x	as long as short
Bybit PENGUUSDT	−0.0351%	4h	0.008675	−0.459%	$22.8M	$35.6M	75x	as long as short
Gate PENGU_USDT	−0.0316%	4h	0.008692	−0.264%	$3.4M	$15.3M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0210%	1h	0.008684	−0.355%	$21K	$8K	10x	as long as short
01 Exchange PENGUUSD	−0.0136%	1h	0.008696	−0.218%	$199	$59	5x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	0.000%	$3K	$81K	5.5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008702	−0.154%	$11K	$5K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008694	−0.246%	$33K	—	150x	as long as short
Lighter PENGU	+0.0096%	1h	0.008677	−0.436%	$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	0.008701	−0.160%	$8.7M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008703	−0.140%	$172K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008700	−0.172%	$143K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008675	−0.458%	$35.9M	$150.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008680	−0.401%	$7.7M	$46.7M	50x	as long as short
Arcus PENGU-USDshort	+0.0100%	1h	0.008700	−0.172%	$19K	$24K	5x
MEXC PENGU_USDT	+0.0100%	4h	0.008696	−0.218%	$12.8M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008695	−0.229%	$4.8M	$8.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008678	−0.424%	$8.1M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008675	−0.459%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008738	+0.260%	$802K	$708K	—	as long as short
GRVT PENGU_USDT_Perplong	+0.0100%	4h	0.008715	long leg	$456K	$2.4M	10x
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008718	+0.035%	$79K	$254K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008693	−0.246%	$675K	$766K	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008687	−0.321%	$21K	$185K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008895	+2.066%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008676	−0.447%	$982	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008714	−0.011%	$91K	$248K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008674	−0.470%	$178K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008676	−0.447%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008692	−0.266%	$294	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008711	−0.046%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0490% / S −0.0675%	1h	0.008692	−0.264%	$109K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+2.157%	$94K	$97K	50x	as long as short