Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against OKX+0.123%7-day average +0.275% · you sell dearer than you buy

Net, funding: paid 7d − costs−$150as in the Funding arb table

Net, price: spread back to 7d avg − costs−$192as in the Price arb table

costs, in and out, $10k−$1771.770% of the position

Long on OKX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.269%+$27 on $10k

Price spread, last 4 days (all we have)+0.124%+$12 · spread now +0.123%, 7d avg +0.275%

Together, before fees+0.394%+$39 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: HTX is 0.153% cheaper against OKX than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.275%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PENGU-USDT-SWAP	0.008969	0.0100	pay 0.0050% / 4h	2h 14m	$7.7M	$52.4M	50x
Short	HTX PENGU-USDT	0.008980	0.0100	get 0.0050% / 4h	2h 14m	$93K	$392K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.123%Rate

Funding earned: $0
Price spread: +0.123% → +0.275%: −$15.27
Slippage, 4 orders: −$155.04
Fee OKX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$192.31
Costs to cover: 1.770%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; HTX: live order book, 33 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	0.56 bp	9.4 bp −$9	22.5 bp −$225	doesn't fit	doesn't fit
Sell HTX live order book, 33 min ago	5.09 bp	142.2 bp −$142	doesn't fit	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008961	−0.092%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.007%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008972	+0.033%	$330K	$755K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008963	−0.061%	$609K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008984	+0.167%	$8.4M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008967	−0.019%	$123K	$685K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008967	−0.022%	$136K	$273K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008963	−0.067%	$37.9M	$179.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008967	−0.022%	$23.8M	$42.5M	75x	as long as short
OKX PENGU-USDT-SWAPlong	+0.0100%	4h	0.008969	long leg	$7.7M	$52.4M	50x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.008960	−0.100%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008975	+0.067%	$3.4M	$16.7M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008964	−0.056%	$10.7M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008970	+0.011%	$5.0M	$9.8M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008972	+0.033%	$8.6M	$13.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008970	+0.011%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008992	+0.256%	$294K	$344K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008940	−0.323%	$934K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008883	−0.962%	$466K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008867	−1.137%	$80K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008964	−0.056%	$23K	$178K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009176	+2.308%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008963	−0.067%	$1K	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.008980	+0.123%	$93K	$392K	25x
Extended PENGU-USD	+0.0104%	1h	0.008969	+0.001%	$185K	$876K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008955	−0.156%	$207K	—	3x	as long as short
dYdX PENGU-USD	+0.0194%	1h	0.008966	−0.031%	$12K	$6K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0196%	1h	0.008965	−0.045%	$14K	$15K	10x	as long as short
01 Exchange PENGUUSD	+0.0208%	1h	0.008968	−0.011%	$205	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008962	−0.075%	$303	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0315%	1h	0.008970	+0.012%	$336K	$2.5M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008970	+0.011%	$1.5M	$4.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0517% / S −0.0482%	1h	0.008958	−0.123%	$127K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.009053	+0.937%	$80K	$79K	50x	as long as short