Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0575%/8h= +63.0% APRpaid last 24h +0.105%

Price spread now: GMX against HTX−0.193%7-day average −0.234% · you buy dearer than you sell

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

Long on HTX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.210%+$21 on $10k

Price spread, last 3 days (all we have)+0.006%+$1 · spread now −0.193%, 7d avg −0.234%

Together, before fees+0.216%+$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and GMX is 0.041% dearer against HTX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.234%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PENGU-USDT	0.008802	0.0100	pay 0.0050% / 4h	2h 53m	$90K	$303K	25x
Short	GMX PENGU/USD [WBTC.b-USDC]	0.008785	L +0.0496% / S −0.0675%	get 0.0084% / 1h	53m 19s	$110K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.193%Rate

Funding earned: $120.75
Price spread: −0.193% → −0.234%: $4.06
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $100.8
Costs to cover: 0.240%
Break-even: 1.2 days

Slippage unknown: HTX: live order book, 14 min ago; GMX: 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 HTX live order book, 14 min ago	10.05 bp	27.6 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
ApeX Omni PENGUUSDT	−0.1869%	1h	0.008781	−0.239%	$80K	$249K	50x	as long as short
Nado PENGU-PERP	−0.0228%	1h	0.008787	−0.170%	$517K	$901K	5x	as long as short
Variational Omni PENGU	−0.0113%	4h	0.008707	−1.078%	$863K	$1.0M	—	as long as short
Gate PENGU_USDT	−0.0092%	4h	0.008784	−0.204%	$3.4M	$15.3M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008799	−0.034%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008791	−0.126%	$32K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0024%	1h	0.008777	−0.284%	$201	$64	5x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.148%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0067%	1h	0.008758	−0.503%	$12K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008811	+0.102%	$306K	$698K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PENGU_USDC	+0.0097%	4h	0.008795	−0.080%	$19K	$179K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008780	−0.250%	$8.2M	$14.9M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008781	−0.234%	$169K	$485K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008764	−0.432%	$151K	$240K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008817	+0.173%	$37.3M	$156.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008812	+0.114%	$23.0M	$37.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008811	+0.102%	$7.5M	$47.6M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008770	−0.364%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008814	+0.136%	$12.4M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008813	+0.125%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008808	+0.068%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008787	−0.170%	—	$3.7M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008753	−0.557%	$300K	$323K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008735	−0.765%	$463K	$2.0M	10x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009000	+2.249%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008802	0.000%	$1K	$5K	5x	as long as short
HTX PENGU-USDTlong	+0.0100%	4h	0.008802	long leg	$90K	$303K	25x
Extended PENGU-USD	+0.0104%	1h	0.008795	−0.075%	$181K	$940K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008795	−0.080%	$203K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008812	+0.114%	$364K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008787	−0.173%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008809	+0.080%	$1.5M	$3.2M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]short	L +0.0496% / S −0.0675%	1h	0.008785	−0.193%	$110K	—	100x
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.875%	$95K	$104K	50x	as long as short