Funding arb · Price arb / Crypto
PENGU
All PENGU markets →
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.009825 | +0.0100 | pay 0.0050% / 4h | 38m 28s | $1.6M | $2.9M | 50x | Long Phemex | |
| SHORT | 0.009595 | +0.0100 | get 0.0050% / 4h | 38m 28s | $2K | $666K | 10x | Short SunX≤10% back |
Price gap−2.341%
Funding gap0.0000% /8h
Funding is ≈ 0, so this is a price-spread trade: +$19 on $10k if the gap goes back to its 7d average.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding+$20.0000% /8h now · paid +0.020% over the last 7D
Price+$19spread −2.341% now, avg −2.530% → +0.190% if it goes back
Costsdoesn’t fit$10k a leg is deeper than the books hold
Result, before costs+$21+0.21%no pointscosts unknown: book too thin at $10k · What the last 7D really paid, hour by hour → backtest
Funding history
you earnyou payavg
RANGE STATS · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.
Price spread between the two exchanges
SunX price against Phemexnow
RANGE STATS · 7D
Now−2.341%
Average—
Range—
Wider than now—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hPENGU on 34 exchanges
lowest funding firstBefore you open
2 ok · 3 to watch- Problem: Doesn’t fit the books—$10k a leg is deeper than SunX’s order book right now.
- Note: Margin at max leverage$200 + $1,000Phemex 50x, SunX 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- OK: Same payment interval4h / 4hBoth legs pay at the same time.Next 24h at the current rates, on $10k a leg: $0.00Long Phemex: 6 payments, −$3.00; short SunX: 6 payments, +$3.00.
- OK: Entry gap works for you−2.341% vs −2.530%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Short leg is thinner$2K vs $1.6M OISunX sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCPhemex Yes · SunX NoKYC unlocks spot and futures trading; an unverified account cannot withdraw at all.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned+0.0010%/8h × 21 periods+$2.16
Price spread−2.341% → −2.530% (7d avg)+$18.95
Slippage, 4 ordersdoesn’t fit the book at $10k—
Fee Phemex bp × 2 orders−$12.00
Fee SunX bp × 2 orders−$8.00
Net · 7 days · $10k—
doesn’t fit the books at $10kCosts to cover—Break-even—
Slippage: Phemex: live order book, 5 min ago; SunX: live order book, 48 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGPhemex2.5344.8 bp−$45doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTSunX258.71doesn’t fitdoesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.
| 09-23 09:31 | Phemex | Listing | new market PENGUUSDT ($PENGU) seen by our collector |
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