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 −0.001%

Price spread now: GRVT against SunX−2.147%7-day average −2.785% · you buy dearer than you sell

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

Long on SunX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)−0.342%−$34 · spread now −2.147%, 7d avg −2.785%

Together, before fees−0.396%+ Points / potential airdropGRVT: Active · farm board−$40 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: GRVT is 0.639% dearer against SunX than usual: you sell high and buy low, +$64 on $10k if it goes back to its 7-day average of −2.785%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PENGU-USDT	0.008991	0.0100	pay 0.0050% / 4h	2h 43m	$2K	$2.1M	10x
Short	GRVT PENGU_USDT_Perp	0.008798	0.0100	get 0.0050% / 4h	2h 43m	$460K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −2.147%Rate

Funding earned: $0
Price spread: −2.147% → −2.785%: $63.86
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $46.86
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: SunX: live order book, 3 min ago; GRVT: 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, 3 min ago	248.90 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 5 min ago	3.97 bp	9.6 bp −$10	23.1 bp −$231	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	0.008774	−2.414%	$17K	$12K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008775	−2.407%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.247%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008778	−2.369%	$318K	$749K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008778	−2.369%	$589K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008779	−2.358%	$8.0M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008779	−2.360%	$120K	$667K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008788	−2.258%	$133K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008775	−2.397%	$37.0M	$175.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008767	−2.491%	$23.3M	$41.6M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008770	−2.458%	$7.5M	$50.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008790	−2.236%	$19K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008771	−2.447%	$3.3M	$16.4M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008774	−2.414%	$10.4M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008773	−2.425%	$4.9M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008775	−2.402%	$8.4M	$13.2M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008776	−2.391%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008771	−2.447%	$291K	$337K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008796	−2.169%	$918K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perpshort	+0.0100%	4h	0.008798	−2.147%	$460K	$2.1M	10x
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008802	−2.102%	$80K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008773	−2.425%	$23K	$153K	20x	as long as short
SunX PENGU-USDTlong	+0.0100%	4h	0.008991	long leg	$2K	$2.1M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.008772	−2.436%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008789	−2.247%	$91K	$387K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008768	−2.477%	$181K	$865K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008765	−2.514%	$202K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0184%	1h	0.008791	−2.224%	$201	$64	5x	as long as short
dYdX PENGU-USD	+0.0195%	1h	0.008789	−2.242%	$12K	$6K	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008778	−2.366%	$296	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0322%	1h	0.008779	−2.357%	$322K	$2.4M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008781	−2.336%	$1.5M	$4.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0540% / S −0.0513%	1h	0.008773	−2.425%	$134K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008847	−1.602%	$93K	$58K	50x	as long as short