Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.2828%/8h= +309.7% APRpaid last 24h +0.609%

Price spread now: Coinbase International against OKX+0.201%7-day average — · you sell dearer than you buy

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

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+1.837%+$184 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$85 a day on $10k at the current rate, and Coinbase International is 0.201% dearer against OKX than usual: you sell high and buy low: +$20 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.837% in total (about 95.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PENGU-USDT-SWAP	0.008944	0.0100	pay 0.0050% / 4h	2m 38s	$7.5M	$48.5M	50x
Short	Coinbase International PENGU-PERP-INTX	0.008962	0.2928	get 0.0366% / 1h	2m 38s	$95K	$63K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.201%Rate

Funding earned: $593.88
Price spread: +0.201% → 0.000%: $20.13
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $594.01
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: OKX: live order book, 1 min ago; Coinbase International: 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 OKX live order book, 1 min ago	0.56 bp	14.4 bp −$14	33.0 bp −$330	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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	0.008931	−0.145%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008931	−0.142%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.733%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008945	+0.011%	$318K	$720K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008930	−0.157%	$24K	$93K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008946	+0.022%	$8.3M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008930	−0.161%	$127K	$599K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008941	−0.034%	$157K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008941	−0.031%	$38.0M	$166.2M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008938	−0.067%	$23.7M	$39.9M	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-SWAPlong	+0.0100%	4h	0.008944	long leg	$7.5M	$48.5M	50x
Arcus PENGU-USD	+0.0100%	1h	0.008940	−0.045%	$19K	$24K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008941	−0.034%	$3.4M	$15.9M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008943	−0.011%	$10.9M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008942	−0.022%	$4.9M	$9.3M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008951	+0.078%	$8.7M	$12.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008943	−0.011%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008929	−0.168%	$297K	$326K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008853	−1.018%	$922K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008865	−0.888%	$473K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008876	−0.760%	$80K	$242K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008929	−0.171%	$600K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009142	+2.214%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008925	−0.212%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008918	−0.291%	$92K	$377K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008928	−0.173%	$184K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008921	−0.257%	$206K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0112%	1h	0.008924	−0.224%	$204	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008928	−0.176%	$301	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008926	−0.201%	$1.5M	$3.8M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0359%	1h	0.008933	−0.125%	$350K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0426%	1h	0.008940	−0.048%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0572%	1h	0.008930	−0.157%	$120K	—	100x	as long as short
Coinbase International PENGU-PERP-INTXshort	+0.2928%	1h	0.008962	+0.201%	$95K	$63K	50x