Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.013%

Price spread now: SoDEX against Hyperliquid+0.091%7-day average — · you sell dearer than you buy

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

Long on Hyperliquid Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.091% dearer against Hyperliquid than usual: you sell high and buy low, +$9 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid PENGU	0.008761	0.0100	pay 0.0013% / 1h	42m 20s	$8.0M	$15.3M	5x
Short	SoDEX PENGU-USD	0.008769	0.0100	get 0.0013% / 1h	42m 20s	$1K	$5K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Hyperliquid. 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 HyperliquidbpFee SoDEXbpOrdersPrice spread, now +0.091%Rate

Funding earned: $0
Price spread: +0.091% → 0.000%: $9.13
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$7.87
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 10 min ago; SoDEX: 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 Hyperliquid live order book, 10 min ago	1.13 bp	8.7 bp −$9	17.9 bp −$179	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008768	+0.080%	$17K	$12K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008759	−0.021%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.320%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008780	+0.217%	$318K	$749K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008753	−0.091%	$587K	$1.1M	5x	as long as short
Hyperliquid PENGUlong	+0.0100%	1h	0.008761	long leg	$8.0M	$15.3M	5x
Aster PENGUUSDT	+0.0100%	4h	0.008761	+0.002%	$120K	$667K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008769	+0.091%	$133K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008761	−0.001%	$37.0M	$175.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008753	−0.091%	$23.3M	$41.7M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008766	+0.057%	$7.5M	$50.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008760	−0.011%	$19K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008758	−0.034%	$3.3M	$16.4M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008760	−0.011%	$10.4M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008753	−0.091%	$4.9M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008764	+0.034%	$8.4M	$13.2M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008759	−0.023%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008771	+0.114%	$291K	$337K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008796	+0.399%	$918K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008798	+0.422%	$460K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008802	+0.468%	$80K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008766	+0.057%	$23K	$153K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008970	+2.386%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USDshort	+0.0100%	1h	0.008769	+0.091%	$1K	$5K	5x
HTX PENGU-USDT	+0.0100%	4h	0.008789	+0.320%	$91K	$387K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008763	+0.023%	$181K	$866K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008757	−0.046%	$202K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0184%	1h	0.008763	+0.023%	$200	$64	5x	as long as short
dYdX PENGU-USD	+0.0196%	1h	0.008779	+0.201%	$12K	$6K	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008756	−0.057%	$296	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0322%	1h	0.008774	+0.150%	$321K	$2.4M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008781	+0.228%	$1.5M	$4.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0525% / S −0.0491%	1h	0.008759	−0.023%	$129K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008847	+0.982%	$93K	$58K	50x	as long as short