Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aevo against SunX−2.462%7-day average −2.763% · you buy dearer than you sell

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

Long on SunX Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 3 days (all we have)+0.048%+$5 · spread now −2.462%, 7d avg −2.763%

Together, before fees+0.050%+$5 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: Aevo is 0.301% dearer against SunX than usual: you sell high and buy low, +$30 on $10k if it goes back to its 7-day average of −2.763%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PENGU-USDT	0.008895	0.0100	pay 0.0050% / 4h	2h 58m	$3K	$2.1M	10x
Short	Aevo PENGU-PERP	0.008676	0.0104	get 0.0013% / 1h	58m 14s	$200K	$17K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against SunX. 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 SunXbpFee AevobpOrdersPrice spread, now −2.462%Rate

Funding earned: $0.84
Price spread: −2.462% → −2.763%: $30.06
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Aevo: 8 bp × 2 orders: −$16
Net: $6.9
Costs to cover: 0.240%
Break-even: from the start

Slippage unknown: SunX: live order book, 8 min ago; Aevo: live order book, 30 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 SunX live order book, 8 min ago	253.09 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Aevo live order book, 30 min ago	17.09 bp	52.3 bp −$52	313.3 bp −$3,133	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
Backpack PENGU_USDC_PERP	−0.0592%	1h	0.008700	−2.192%	$311K	$324K	10x	as long as short
Kraken Futures PF_PENGUUSD	−0.0551%	1h	0.008682	−2.393%	$384K	$2.2M	50x	as long as short
Bybit PENGUUSDT	−0.0351%	4h	0.008675	−2.473%	$22.8M	$35.6M	75x	as long as short
Gate PENGU_USDT	−0.0316%	4h	0.008692	−2.282%	$3.4M	$15.3M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0210%	1h	0.008684	−2.372%	$21K	$8K	10x	as long as short
01 Exchange PENGUUSD	−0.0136%	1h	0.008696	−2.237%	$199	$59	5x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	−2.024%	$3K	$81K	5.5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008702	−2.175%	$11K	$5K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008694	−2.265%	$33K	—	150x	as long as short
Lighter PENGU	+0.0096%	1h	0.008677	−2.451%	$294K	$718K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008701	−2.181%	$8.7M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008703	−2.161%	$172K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008700	−2.192%	$143K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008675	−2.472%	$35.9M	$150.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008680	−2.417%	$7.7M	$46.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008700	−2.192%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008696	−2.237%	$12.8M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008695	−2.248%	$4.8M	$8.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008678	−2.440%	$8.1M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008675	−2.473%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008738	−1.769%	$802K	$708K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008715	−2.024%	$456K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008718	−1.990%	$79K	$254K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008693	−2.265%	$675K	$766K	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008687	−2.338%	$21K	$185K	20x	as long as short
SunX PENGU-USDTlong	+0.0100%	4h	0.008895	long leg	$3K	$2.1M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.008676	−2.462%	$982	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008714	−2.035%	$91K	$248K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008674	−2.485%	$178K	$681K	10x	as long as short
Aevo PENGU-PERPshort	+0.0104%	1h	0.008676	−2.462%	$200K	$17K	3x
Reya PENGURUSDPERP	+0.0237%	1h	0.008692	−2.285%	$294	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008711	−2.069%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0490% / S −0.0675%	1h	0.008692	−2.282%	$109K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+0.090%	$94K	$97K	50x	as long as short