Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Binance against GRVT+0.266%59s7-day average 0.000% · 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—prices read too far apart to compare

costs, in and out, $10k−$570.568% of the position

Long on GRVT Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.043%+$4 on $10k

Price spread, last 7 days−0.240%−$24 · spread now +0.266%, 7d avg 0.000%

Together, before fees−0.197%+ Points / potential airdropGRVT: Active · farm board−$20 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.267% dearer against GRVT than usual: you sell high and buy low, +$27 on $10k if it goes back to its 7-day average of 0.000%. The two prices were read 59 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	0.009149	0.0100	pay 0.0050% / 4h	14m 30s	$480K	$2.1M	10x
Short	Binance PENGUUSDT	0.009173	0.0100	get 0.0050% / 4h	14m 30s	$40.4M	$194.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.266%Rate

Funding earned: $0
Price spread: +0.266% → 0.000%: $26.66
Slippage, 4 orders: −$37.76
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$30.09
Costs to cover: 0.568%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; Binance: live order book, 14 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 GRVT live order book, 4 min ago	2.74 bp	22.2 bp −$22	49.5 bp −$495	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	0.55 bp	10.2 bp −$10	17.7 bp −$177	72.6 bp −$7,255	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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.009149	+0.003%	$1K	$29K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009143	−0.063%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.932%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009168	+0.210%	$331K	$773K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009166	+0.183%	$645K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009163	+0.159%	$147K	$730K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009159	+0.112%	$138K	$267K	5x	as long as short
Binance PENGUUSDTshort	+0.0100%	4h	0.009173	+0.266%	$40.4M	$194.5M	75x
Bybit PENGUUSDT	+0.0100%	4h	0.009166	+0.188%	$24.6M	$45.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009165	+0.178%	$8.3M	$57.4M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.009170	+0.232%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009157	+0.090%	$3.7M	$18.1M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009162	+0.145%	$11.3M	$13.1M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009164	+0.167%	$5.1M	$10.4M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009184	+0.385%	$9.1M	$14.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009157	+0.090%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009151	+0.024%	$317K	$382K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009127	−0.237%	$918K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perplong	+0.0100%	4h	0.009149	long leg	$480K	$2.1M	10x
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009155	+0.068%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009144	−0.052%	$24K	$298K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009368	+2.396%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009147	−0.019%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009172	+0.254%	$95K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009160	+0.124%	$188K	$744K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009141	−0.085%	$211K	—	3x	as long as short
Hyperliquid PENGU	+0.0221%	1h	0.009183	+0.374%	$9.4M	$16.6M	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009137	−0.124%	$309	—	10x	as long as short
01 Exchange PENGUUSD	+0.0328%	1h	0.009171	+0.243%	$210	$41	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009146	−0.030%	$1.6M	$5.0M	75x	as long as short
dYdX PENGU-USD	+0.0390%	1h	0.009159	+0.115%	$12K	$6K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0435% / S −0.0352%	1h	0.009143	−0.063%	$105K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0534%	1h	0.009150	+0.010%	$355K	$2.6M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1928%	1h	0.009196	+0.516%	$81K	$74K	50x	as long as short