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 0.000%

Price spread now: BingX against OKX−0.035%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$600.599% of the position

Long on OKX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 7 days−0.078%−$8 · spread now −0.035%, 7d avg −0.084%

Together, before fees−0.014%−$1 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: BingX is 0.050% dearer against OKX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PENGU-USDT-SWAP	0.008650	0.0100	pay 0.0050% / 4h	2h 49m	$7.7M	$46.4M	50x
Short	BingX PENGU-USDC	0.008647	0.0100	get 0.0050% / 4h	2h 49m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.035%Rate

Funding earned: $0
Price spread: −0.035% → −0.084%: $4.95
Slippage, 4 orders: −$39.9
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$54.95
Costs to cover: 0.599%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; BingX: live order book, 14 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, 4 min ago	0.58 bp	12.0 bp −$12	27.7 bp −$277	doesn't fit	doesn't fit
Sell BingX live order book, 14 min ago	1.72 bp	15.4 bp −$15	50.9 bp −$509	338.6 bp −$33.9K	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	−0.0553%	1h	0.008656	+0.067%	$383K	$2.1M	50x	as long as short
Bybit PENGUUSDT	−0.0405%	4h	0.008645	−0.058%	$22.6M	$35.7M	75x	as long as short
Gate PENGU_USDT	−0.0362%	4h	0.008649	−0.012%	$3.4M	$15.3M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0327%	1h	0.008655	+0.058%	$19K	$9K	10x	as long as short
Backpack PENGU_USDC_PERP	−0.0263%	1h	0.008666	+0.185%	$309K	$317K	10x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.751%	$3K	$81K	5.5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008669	+0.220%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008658	+0.090%	$33K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0048%	1h	0.008655	+0.058%	$198	$59	5x	as long as short
ApeX Omni PENGUUSDT	+0.0054%	1h	0.008649	−0.012%	$79K	$254K	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENGU	+0.0096%	1h	0.008655	+0.058%	$293K	$719K	8x	as long as short
Nado PENGU-PERP	+0.0097%	1h	0.008654	+0.052%	$671K	$759K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008659	+0.104%	$8.7M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008659	+0.102%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008659	+0.104%	$142K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008652	+0.023%	$35.8M	$150.9M	75x	as long as short
OKX PENGU-USDT-SWAPlong	+0.0100%	4h	0.008650	long leg	$7.7M	$46.4M	50x
Arcus PENGU-USD	+0.0100%	1h	0.008660	+0.116%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008654	+0.046%	$12.7M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008650	0.000%	$4.7M	$8.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008655	+0.058%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDCshort	+0.0100%	4h	0.008647	−0.035%	—	$2.3M	—
Variational Omni PENGU	+0.0100%	4h	0.008646	−0.052%	$794K	$712K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008652	+0.023%	$453K	$2.4M	10x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008657	+0.081%	$21K	$185K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008857	+2.393%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008652	+0.023%	$978	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008674	+0.277%	$91K	$248K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008650	+0.003%	$177K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008651	+0.012%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008650	+0.005%	$292	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008658	+0.092%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0489% / S −0.0675%	1h	0.008657	+0.081%	$108K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+2.925%	$94K	$97K	50x	as long as short