Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0212%/8h= −23.2% APRpaid last 24h +0.002%

Price spread now: 01 Exchange against OKX+0.057%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 01 Exchange

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—needs both histories

The price spread pays, funding is against you. 01 Exchange is 0.057% dearer against OKX than usual: you sell high and buy low (spread +0.057% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PENGU-USDT-SWAP	0.008831	0.0100	pay 0.0050% / 4h	54m 38s	$7.6M	$47.4M	50x
Short	01 Exchange PENGUUSD	0.008836	−0.0112	pay 0.0014% / 1h	54m 38s	$202	$59	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.057%Rate

Funding earned: −$44.52
Price spread: +0.057% → 0.000%: $5.66
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$55.86
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 4 min ago; 01 Exchange: 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, 4 min ago	0.57 bp	9.1 bp −$9	26.4 bp −$264	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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
Kraken Futures PF_PENGUUSD	−0.0338%	1h	0.008847	+0.180%	$369K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0254%	4h	0.008830	−0.011%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0220%	4h	0.008825	−0.068%	$22.9M	$36.5M	75x	as long as short
Variational Omni PENGU	−0.0127%	4h	0.008807	−0.268%	$804K	$802K	—	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	−0.476%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSDshort	−0.0112%	1h	0.008836	+0.057%	$202	$59	5x
Deribit PENGU_USDC-PERPETUAL	−0.0089%	1h	0.008839	+0.091%	$19K	$9K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008842	+0.127%	$34K	—	150x	as long as short
dYdX PENGU-USD	+0.0019%	1h	0.008840	+0.099%	$12K	$4K	5x	as long as short
Nado PENGU-PERP	+0.0035%	1h	0.008835	+0.045%	$689K	$761K	5x	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	0.008834	+0.034%	$310K	$737K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008841	+0.113%	$24K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008839	+0.091%	$8.5M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008835	+0.044%	$191K	$467K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008832	+0.011%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008832	+0.012%	$36.7M	$153.8M	75x	as long as short
OKX PENGU-USDT-SWAPlong	+0.0100%	4h	0.008831	long leg	$7.6M	$47.4M	50x
Arcus PENGU-USD	+0.0100%	1h	0.008840	+0.102%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008828	−0.034%	$12.6M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008835	+0.045%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008838	+0.079%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008829	−0.023%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008836	+0.057%	$315K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008813	−0.201%	$461K	$2.2M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008819	−0.136%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009052	+2.503%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008834	+0.034%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008856	+0.283%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008833	+0.021%	$182K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008839	+0.091%	$204K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008837	+0.068%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008840	+0.102%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0512% / S −0.0711%	1h	0.008842	+0.125%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008850	+0.215%	$94K	$104K	50x	as long as short