Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: HTX against GRVT+0.127%7-day average +0.328% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$970.972% of the position

Long on GRVT Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.274%+$27 on $10k

Price spread, last 4 days (all we have)+0.218%+$22 · spread now +0.127%, 7d avg +0.328%

Together, before fees+0.491%+ Points / potential airdropGRVT: Active · farm board+$49 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: HTX is 0.201% cheaper against GRVT than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.328%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT PENGU_USDT_Perp	0.008782	0.0100	pay 0.0050% / 4h	1h 14m	$458K	$2.1M	10x
Short	HTX PENGU-USDT	0.008793	0.0100	get 0.0050% / 4h	1h 14m	$92K	$354K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.127%Rate

Funding earned: $0
Price spread: +0.127% → +0.328%: −$20.12
Slippage, 4 orders: −$76.21
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee HTX: 6 bp × 2 orders: −$12
Net: −$117.34
Costs to cover: 0.972%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; HTX: live order book, 48 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	2.85 bp	13.3 bp −$13	32.2 bp −$322	doesn't fit	doesn't fit
Sell HTX live order book, 48 min ago	14.73 bp	24.0 bp −$24	doesn't fit	doesn't fit	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
01 Exchange PENGUUSD	−0.0040%	1h	0.008766	−0.181%	$201	$64	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008775	−0.078%	$18K	$10K	10x	as long as short
Gate PENGU_USDT	+0.0004%	4h	0.008769	−0.147%	$3.3M	$15.7M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008762	−0.231%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.081%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008773	−0.101%	$312K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008776	−0.067%	$23K	$165K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008766	−0.175%	$587K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008764	−0.204%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008775	−0.084%	$121K	$579K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008770	−0.135%	$154K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008765	−0.191%	$36.6M	$160.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008759	−0.260%	$23.2M	$38.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008759	−0.260%	$7.3M	$46.6M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008770	−0.135%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008760	−0.249%	$11.3M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008764	−0.204%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008765	−0.192%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008758	−0.272%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008772	−0.112%	$300K	$293K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008785	+0.033%	$873K	$985K	—	as long as short
GRVT PENGU_USDT_Perplong	+0.0100%	4h	0.008782	long leg	$458K	$2.1M	10x
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008782	+0.001%	$80K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008983	+2.290%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008774	−0.090%	$1K	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.008793	+0.127%	$92K	$354K	25x
Extended PENGU-USD	+0.0104%	1h	0.008764	−0.207%	$185K	$945K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008775	−0.078%	$203K	—	3x	as long as short
dYdX PENGU-USD	+0.0226%	1h	0.008769	−0.149%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008759	−0.265%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008773	−0.101%	$1.5M	$3.5M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0555% / S −0.0662%	1h	0.008774	−0.090%	$132K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0648%	1h	0.008784	+0.022%	$353K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.108%	$95K	$94K	50x	as long as short