Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.020%

Price spread now: Bybit against SunX−2.553%7-day average −2.745% · you buy dearer than you sell

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

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.136%−$14 on $10k

Price spread, last 4 days (all we have)+0.082%+$8 · spread now −2.553%, 7d avg −2.745%

Together, before fees−0.054%−$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: Bybit is 0.192% dearer against SunX than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of −2.745%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PENGU-USDT	0.009010	0.0100	pay 0.0050% / 4h	2h 43m	$2K	$2.1M	10x
Short	Bybit PENGUUSDT	0.008780	0.0100	get 0.0050% / 4h	2h 43m	$23.3M	$41.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −2.553%Rate

Funding earned: $0
Price spread: −2.553% → −2.745%: $19.19
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $0.19
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: SunX: live order book, 2 min ago; Bybit: live order book, 5 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, 2 min ago	248.90 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.57 bp	13.6 bp −$14	28.6 bp −$286	143.6 bp −$14.4K	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	0.008801	−2.320%	$17K	$12K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008798	−2.350%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.453%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008793	−2.408%	$319K	$749K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008795	−2.386%	$8.1M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008789	−2.450%	$120K	$667K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008803	−2.297%	$133K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008790	−2.442%	$37.1M	$175.8M	75x	as long as short
Bybit PENGUUSDTshort	+0.0100%	4h	0.008780	−2.553%	$23.3M	$41.6M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008786	−2.486%	$7.5M	$50.3M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.008790	−2.442%	$19K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008783	−2.519%	$3.3M	$16.4M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008786	−2.486%	$10.4M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008787	−2.475%	$4.9M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008790	−2.442%	$8.4M	$13.2M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008785	−2.497%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008791	−2.431%	$291K	$337K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008796	−2.376%	$918K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008799	−2.344%	$464K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008805	−2.275%	$80K	$250K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008802	−2.311%	$590K	$1.1M	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008798	−2.353%	$23K	$152K	20x	as long as short
SunX PENGU-USDTlong	+0.0100%	4h	0.009010	long leg	$2K	$2.1M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.008798	−2.353%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008818	−2.131%	$91K	$387K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008781	−2.540%	$182K	$865K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008791	−2.431%	$203K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0184%	1h	0.008801	−2.320%	$201	$64	5x	as long as short
dYdX PENGU-USD	+0.0186%	1h	0.008799	−2.344%	$12K	$6K	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008799	−2.339%	$297	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0321%	1h	0.008803	−2.293%	$322K	$2.4M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008802	−2.309%	$1.5M	$4.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0541% / S −0.0526%	1h	0.008797	−2.364%	$133K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008847	−1.809%	$93K	$58K	50x	as long as short