Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against OKX+0.535%110s7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as 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−$500.502% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 3 days (all we have)−0.380%−$38 · spread now +0.535%, 7d avg +0.050%

Together, before fees−0.327%−$33 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: ApeX Omni is 0.486% dearer against OKX than usual: you sell high and buy low, +$49 on $10k if it goes back to its 7-day average of +0.050%. The two prices were read 110 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	OKX PENGU-USDT-SWAP	0.008784	0.0100	pay 0.0050% / 4h	1h 35m	$7.7M	$47.0M	50x
Short	ApeX Omni PENGUUSDT	0.008831	0.0100	get 0.0013% / 1h	35m 42s	$80K	$253K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now +0.535%Rate

Funding earned: $0
Price spread: +0.535% → +0.050%: $48.56
Slippage, 4 orders: −$30.22
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$1.67
Costs to cover: 0.502%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; ApeX Omni: live order book, 46 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 OKX live order book, 3 min ago	0.57 bp	10.7 bp −$11	25.7 bp −$257	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 46 min ago	7.46 bp	15.2 bp −$15	104.6 bp −$1,046	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	−0.0606%	1h	0.008793	+0.102%	$370K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0328%	4h	0.008782	−0.023%	$3.5M	$15.5M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0205%	1h	0.008795	+0.125%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0114%	4h	0.008784	0.000%	$22.9M	$36.2M	75x	as long as short
01 Exchange PENGUUSD	−0.0088%	1h	0.008800	+0.182%	$201	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008799	+0.167%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	−0.786%	$3K	$81K	5.5x	as long as short
Variational Omni PENGU	+0.0082%	4h	0.008816	+0.370%	$839K	$768K	—	as long as short
Lighter PENGU	+0.0096%	1h	0.008788	+0.046%	$308K	$735K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008789	+0.063%	$680K	$757K	5x	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	0.008791	+0.080%	$8.7M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008793	+0.103%	$174K	$466K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008791	+0.080%	$151K	$238K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008790	+0.068%	$36.4M	$152.2M	75x	as long as short
OKX PENGU-USDT-SWAPlong	+0.0100%	4h	0.008784	long leg	$7.7M	$47.0M	50x
Arcus PENGU-USD	+0.0100%	1h	0.008790	+0.068%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008788	+0.046%	$12.9M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008790	+0.068%	$4.8M	$8.8M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008790	+0.068%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008788	+0.046%	—	$3.9M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008782	−0.023%	$313K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008825	+0.467%	$462K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDTshort	+0.0100%	1h	0.008831	+0.535%	$80K	$253K	50x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008795	+0.125%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009005	+2.516%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008787	+0.034%	$998	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008813	+0.330%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008786	+0.023%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008790	+0.068%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0130%	1h	0.008792	+0.090%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008792	+0.092%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008805	+0.239%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0711%	1h	0.008798	+0.159%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	+1.833%	$95K	$105K	50x	as long as short