Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0139%/8h= −15.2% APRpaid last 24h −0.040%

Price spread now: HTX against Reya+0.227%7-day average — · you sell dearer than you buy

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

Long on Reya Short on HTX

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. HTX is 0.227% dearer against Reya than usual: you sell high and buy low (spread +0.227% now, against zero (this spread has no 7-day history yet)): +$23 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 5.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PENGURUSDPERP	0.008766	0.0239	pay 0.0030% / 1h	10m 47s	$296	—	10x
Short	HTX PENGU-USDT	0.008786	0.0100	get 0.0050% / 4h	1h 10m	$92K	$352K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Reya. 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 ReyabpFee HTXbpOrdersPrice spread, now +0.227%Rate

Funding earned: −$29.14
Price spread: +0.227% → 0.000%: $22.68
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$24.46
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; HTX: live order book, 52 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell HTX live order book, 52 min ago	14.73 bp	24.0 bp −$24	doesn't fit	doesn't fit	doesn't fit

Reya: 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
01 Exchange PENGUUSD	−0.0032%	1h	0.008774	+0.090%	$201	$64	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008779	+0.147%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008774	+0.094%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0016%	4h	0.008785	+0.215%	$3.3M	$15.7M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.261%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008784	+0.204%	$312K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008778	+0.136%	$23K	$164K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008782	+0.181%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008787	+0.237%	$121K	$579K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008779	+0.147%	$154K	$243K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008779	+0.147%	$36.6M	$160.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008776	+0.113%	$23.2M	$39.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008776	+0.113%	$7.4M	$46.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008780	+0.158%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008777	+0.124%	$11.4M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008782	+0.181%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008781	+0.170%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008771	+0.056%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008786	+0.227%	$300K	$293K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008756	−0.118%	$869K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008744	−0.249%	$466K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008758	−0.093%	$80K	$243K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008768	+0.027%	$587K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008982	+2.463%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008780	+0.158%	$1K	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.008786	+0.227%	$92K	$352K	25x
Extended PENGU-USD	+0.0104%	1h	0.008783	+0.190%	$185K	$945K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008775	+0.101%	$203K	—	3x	as long as short
dYdX PENGU-USD	+0.0232%	1h	0.008778	+0.138%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERPlong	+0.0239%	1h	0.008766	long leg	$296	—	10x
BloFin PENGU-USDT	+0.0340%	4h	0.008780	+0.158%	$1.5M	$3.5M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0555% / S −0.0662%	1h	0.008770	+0.044%	$132K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0647%	1h	0.008789	+0.266%	$349K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.292%	$95K	$90K	50x	as long as short