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 −0.020%

Price spread now: GRVT against HTX−0.080%77s7-day average −0.340% · you buy dearer than you sell

Net, funding: paid 7d − costs−$222as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1921.921% of the position

Long on HTX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.300%−$30 on $10k

Price spread, last 3 days (all we have)−0.252%−$25 · spread now −0.080%, 7d avg −0.340%

Together, before fees−0.552%+ Points / potential airdropGRVT: Active · farm board−$55 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: GRVT is 0.260% dearer against HTX than usual: you sell high and buy low, +$26 on $10k if it goes back to its 7-day average of −0.340%. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PENGU-USDT	0.008703	0.0100	pay 0.0050% / 4h	2h 15m	$91K	$249K	25x
Short	GRVT PENGU_USDT_Perp	0.008696	0.0100	get 0.0050% / 4h	2h 15m	$455K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.080%Rate

Funding earned: $0
Price spread: −0.080% → −0.340%: $26.04
Slippage, 4 orders: −$171.11
Fee HTX: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$166.07
Costs to cover: 1.921%
Break-even: never at this rate

Slippage from HTX: live order book, 6 min ago; GRVT: 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, 6 min ago	11.45 bp	17.5 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 3 min ago	1.15 bp	11.7 bp −$12	44.3 bp −$443	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	−0.0551%	1h	0.008681	−0.247%	$385K	$2.1M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0326%	1h	0.008678	−0.287%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0260%	4h	0.008675	−0.322%	$3.4M	$15.4M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.138%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0005%	1h	0.008675	−0.322%	$309K	$314K	10x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008685	−0.209%	$11K	$4K	5x	as long as short
01 Exchange PENGUUSD	0.0000%	1h	0.008678	−0.287%	$199	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008682	−0.244%	$33K	—	150x	as long as short
Bybit PENGUUSDT	+0.0044%	4h	0.008675	−0.322%	$22.5M	$36.0M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008684	−0.218%	$297K	$723K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008687	−0.184%	$8.7M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008681	−0.253%	$172K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008684	−0.218%	$146K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008679	−0.276%	$35.9M	$151.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008676	−0.310%	$7.7M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008680	−0.264%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008681	−0.253%	$12.8M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008684	−0.218%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008685	−0.207%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008676	−0.310%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008709	+0.069%	$799K	$714K	—	as long as short
GRVT PENGU_USDT_Perpshort	+0.0100%	4h	0.008696	−0.080%	$455K	$2.4M	10x
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008718	+0.172%	$79K	$253K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008680	−0.259%	$674K	$756K	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008679	−0.276%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008887	+2.114%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008676	−0.310%	$990	$5K	5x	as long as short
HTX PENGU-USDTlong	+0.0100%	4h	0.008703	long leg	$91K	$249K	25x
Extended PENGU-USD	+0.0104%	1h	0.008676	−0.306%	$179K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008675	−0.322%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008675	−0.325%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008685	−0.207%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0703%	1h	0.008681	−0.253%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008728	+0.287%	$94K	$97K	50x	as long as short