Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against HTX−0.128%7-day average −0.328% · you buy dearer than you sell

Net, funding: paid 7d − costs−$214as in the Funding arb table

Net, price: spread back to 7d avg − costs−$171as in the Price arb table

costs, in and out, $10k−$1911.909% of the position

Long on HTX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.233%−$23 on $10k

Price spread, last 3 days (all we have)−0.153%−$15 · spread now −0.128%, 7d avg −0.328%

Together, before fees−0.386%+ Points / potential airdropExtended: Active · farm board−$39 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: Extended is 0.200% dearer against HTX than usual: you sell high and buy low, +$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	HTX PENGU-USDT	0.008734	0.0100	pay 0.0050% / 4h	9m 57s	$91K	$249K	25x
Short	Extended PENGU-USD	0.008723	0.0104	get 0.0013% / 1h	9m 57s	$179K	$622K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.128%Rate

Funding earned: $0.84
Price spread: −0.128% → −0.328%: $19.96
Slippage, 4 orders: −$173.92
Fee HTX: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$170.12
Costs to cover: 1.909%
Break-even: 1424.6 days

Slippage from HTX: live order book, 2 min ago; Extended: live order book, 3 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, 2 min ago	9.74 bp	15.7 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	0.57 bp	9.9 bp −$10	84.0 bp −$840	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
Kraken Futures PF_PENGUUSD	−0.0343%	1h	0.008734	−0.004%	$367K	$2.3M	50x	as long as short
Bybit PENGUUSDT	−0.0325%	4h	0.008722	−0.137%	$22.7M	$36.9M	75x	as long as short
Gate PENGU_USDT	−0.0312%	4h	0.008723	−0.126%	$3.4M	$15.7M	75x	as long as short
Variational Omni PENGU	−0.0310%	4h	0.008693	−0.467%	$859K	$927K	—	as long as short
01 Exchange PENGUUSD	−0.0280%	1h	0.008729	−0.057%	$200	$59	5x	as long as short
Backpack PENGU_USDC_PERP	−0.0185%	1h	0.008725	−0.103%	$306K	$315K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.630%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0094%	1h	0.008727	−0.080%	$18K	$10K	10x	as long as short
Nado PENGU-PERP	−0.0025%	1h	0.008727	−0.083%	$694K	$777K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008728	−0.074%	$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	+0.0018%	1h	0.008718	−0.187%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0078%	4h	0.008721	−0.149%	$456K	$2.1M	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008727	−0.080%	$305K	$741K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008727	−0.080%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008728	−0.069%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008730	−0.042%	$187K	$474K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008726	−0.092%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008729	−0.057%	$36.1M	$155.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008729	−0.057%	$7.5M	$46.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008730	−0.046%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008725	−0.103%	$12.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008725	−0.103%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008727	−0.080%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008719	−0.172%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008729	−0.057%	$79K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008932	+2.267%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008724	−0.114%	$996	$5K	5x	as long as short
HTX PENGU-USDTlong	+0.0100%	4h	0.008734	long leg	$91K	$249K	25x
Extended PENGU-USDshort	+0.0104%	1h	0.008723	−0.128%	$179K	$622K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008722	−0.137%	$201K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008720	−0.162%	$294	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008706	−0.321%	$1.5M	$2.7M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0495% / S −0.0683%	1h	0.008726	−0.092%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008768	+0.389%	$93K	$103K	50x	as long as short