Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against SunX−2.346%7-day average −2.664% · you buy dearer than you sell

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

Long on SunX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.081%−$8 · spread now −2.346%, 7d avg −2.664%

Together, before fees−0.081%−$8 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: Bitget is 0.318% dearer against SunX than usual: you sell high and buy low, +$32 on $10k if it goes back to its 7-day average of −2.664%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PENGU-USDT	0.008908	0.0100	pay 0.0050% / 4h	1h 45m	$2K	$2.0M	10x
Short	Bitget PENGUUSDT	0.008699	0.0100	get 0.0050% / 4h	1h 45m	$8.2M	$12.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −2.346%Rate

Funding earned: $0
Price spread: −2.346% → −2.664%: $31.77
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: $11.77
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: SunX: live order book, 10 min ago; Bitget: live order book, 3 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, 10 min ago	254.96 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	1.72 bp	12.6 bp −$13	29.1 bp −$291	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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008707	−2.256%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008708	−2.250%	$32K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0008%	1h	0.008687	−2.481%	$199	$64	5x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.336%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0038%	4h	0.008697	−2.369%	$3.4M	$15.5M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008701	−2.324%	$309K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008705	−2.279%	$23K	$165K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008699	−2.341%	$586K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008700	−2.335%	$8.1M	$14.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008699	−2.346%	$128K	$573K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008687	−2.481%	$153K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008700	−2.336%	$36.5M	$159.2M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008690	−2.447%	$23.1M	$38.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008692	−2.425%	$7.4M	$46.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008690	−2.447%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008699	−2.346%	$11.5M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008695	−2.391%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDTshort	+0.0100%	4h	0.008699	−2.346%	$8.2M	$12.4M	75x
BingX PENGU-USDC	+0.0100%	4h	0.008692	−2.425%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008699	−2.346%	$298K	$276K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008701	−2.324%	$863K	$986K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008772	−1.524%	$459K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008708	−2.245%	$79K	$243K	50x	as long as short
SunX PENGU-USDTlong	+0.0100%	4h	0.008908	long leg	$2K	$2.0M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.008695	−2.391%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008725	−2.054%	$91K	$348K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008701	−2.318%	$182K	$941K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008702	−2.313%	$201K	—	3x	as long as short
dYdX PENGU-USD	+0.0223%	1h	0.008686	−2.496%	$11K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008704	−2.293%	$294	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008684	−2.515%	—	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0582%	1h	0.008709	−2.234%	$118K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0653%	1h	0.008709	−2.236%	$357K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+0.662%	$95K	$94K	50x	as long as short