Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against HTX−0.286%7-day average −0.289% · you buy dearer than you sell

Net, funding: paid 7d − costs−$243as in the Funding arb table

Net, price: spread back to 7d avg − costs−$219as in the Price arb table

costs, in and out, $10k−$2202.195% of the position

Long on HTX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.237%−$24 on $10k

Price spread, last 3 days (all we have)−0.074%−$7 · spread now −0.286%, 7d avg −0.289%

Together, before fees−0.311%−$31 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PENGU-USDT	0.008746	0.0100	pay 0.0050% / 4h	3h 09m	$91K	$248K	25x
Short	Binance PENGUUSDT	0.008721	0.0100	get 0.0050% / 4h	3h 09m	$36.4M	$150.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against HTX. 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 HTXbpFee BinancebpOrdersPrice spread, now −0.286%Rate

Funding earned: $0
Price spread: −0.286% → −0.289%: $0.3
Slippage, 4 orders: −$197.53
Fee HTX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$219.23
Costs to cover: 2.195%
Break-even: never at this rate

Slippage from HTX: live order book, 17 min ago; Binance: live order book, 4 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 HTX live order book, 17 min ago	9.10 bp	15.1 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	0.58 bp	11.4 bp −$11	26.6 bp −$266	76.0 bp −$7,598	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
Kraken Futures PF_PENGUUSD	−0.0271%	1h	0.008721	−0.282%	$386K	$2.1M	50x	as long as short
Gate PENGU_USDT	−0.0258%	4h	0.008716	−0.343%	$3.5M	$15.3M	75x	as long as short
Injective PENGU/USDC PERP	−0.0151%	1h	0.008715	−0.354%	$3K	$81K	5.5x	as long as short
Bybit PENGUUSDT	−0.0131%	4h	0.008716	−0.343%	$22.9M	$35.4M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0094%	1h	0.008719	−0.309%	$21K	$8K	10x	as long as short
01 Exchange PENGUUSD	−0.0040%	1h	0.008722	−0.274%	$200	$59	5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008725	−0.240%	$12K	$5K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008723	−0.267%	$33K	—	150x	as long as short
Lighter PENGU	+0.0096%	1h	0.008719	−0.309%	$290K	$713K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008724	−0.252%	$8.7M	$15.0M	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008731	−0.172%	$172K	$447K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008726	−0.229%	$143K	$232K	5x	as long as short
Binance PENGUUSDTshort	+0.0100%	4h	0.008721	−0.286%	$36.4M	$150.3M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008726	−0.229%	$7.9M	$46.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008720	−0.297%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008720	−0.297%	$12.8M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008721	−0.286%	$4.9M	$8.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008724	−0.252%	$8.2M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008714	−0.366%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008733	−0.149%	$312K	$320K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008679	−0.768%	$798K	$708K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008724	−0.256%	$456K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008694	−0.595%	$79K	$254K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008724	−0.257%	$677K	$762K	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008723	−0.263%	$21K	$185K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008925	+2.047%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008717	−0.332%	$983	$5K	5x	as long as short
HTX PENGU-USDTlong	+0.0100%	4h	0.008746	long leg	$91K	$248K	25x
Extended PENGU-USD	+0.0104%	1h	0.008717	−0.328%	$178K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008716	−0.343%	$201K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008722	−0.274%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008717	−0.332%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0491% / S −0.0675%	1h	0.008722	−0.274%	$109K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.3264%	1h	0.008903	+1.795%	$94K	$97K	50x	as long as short