Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0187%/8h= −20.5% APRpaid last 24h −0.040%

Price spread now: Deribit against GRVT+0.009%7-day average — · you sell dearer than you buy

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

Long on GRVT Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT PENGU_USDT_Perp	0.008747	0.0094	pay 0.0047% / 4h	30m 58s	$458K	$2.1M	10x
Short	Deribit PENGU_USDC-PERPETUAL	0.008748	−0.0093	pay 0.0012% / 1h	30m 58s	$19K	$9K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$39.27
Price spread: +0.009% → 0.000%: $0.93
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$54.34
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 3 min ago; Deribit: 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, 3 min ago	1.71 bp	16.8 bp −$17	26.9 bp −$269	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−0.0342%	1h	0.008751	+0.049%	$368K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0266%	4h	0.008740	−0.082%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0264%	4h	0.008738	−0.105%	$22.7M	$36.7M	75x	as long as short
01 Exchange PENGUUSD	−0.0240%	1h	0.008741	−0.071%	$200	$59	5x	as long as short
Variational Omni PENGU	−0.0209%	4h	0.008739	−0.088%	$798K	$802K	—	as long as short
Backpack PENGU_USDC_PERP	−0.0119%	1h	0.008743	−0.048%	$311K	$313K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.478%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUALshort	−0.0093%	1h	0.008748	+0.009%	$19K	$9K	10x
Nado PENGU-PERP	−0.0003%	1h	0.008745	−0.019%	$694K	$774K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008752	+0.050%	$33K	—	150x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENGU-USD	+0.0028%	1h	0.008750	+0.035%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perplong	+0.0094%	4h	0.008747	long leg	$458K	$2.1M	10x
Lighter PENGU	+0.0096%	1h	0.008746	−0.014%	$306K	$741K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008750	+0.032%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008746	−0.014%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008751	+0.043%	$188K	$468K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008745	−0.025%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008743	−0.050%	$36.2M	$154.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008744	−0.036%	$7.5M	$46.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008750	+0.032%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008744	−0.036%	$12.4M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008747	−0.002%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008750	+0.032%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008733	−0.162%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008754	+0.078%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008959	+2.422%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008746	−0.014%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008764	+0.192%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008742	−0.065%	$180K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008741	−0.071%	$202K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008746	−0.012%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008748	+0.009%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008751	+0.044%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008788	+0.467%	$94K	$103K	50x	as long as short