Funding arb · Price arb / Crypto
PENGU
All PENGU markets →
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 0.009652 | +0.0100 | pay 0.0050% / 4h | 42m 47s | $3K | $677K | 10x | Long SunX≤10% back | |
| SHORT | 0.009905 | +0.0100 | get 0.0050% / 4h | 42m 47s | $1.6M | $2.9M | 50x | Short Phemex |
Price gap+2.621%
Funding gap0.0000% /8h
Funding is ≈ 0, so this is a price-spread trade: +$3 on $10k if the gap goes back to its 7d average.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding−$20.0000% /8h now · paid −0.020% over the last 7D
Price+$3spread +2.621% now, avg +2.596% → +0.025% if it goes back
Costsdoesn’t fit$10k a leg is deeper than the books hold
Result, before costs+$1+0.01%no pointscosts unknown: book too thin at $10k · What the last 7D really paid, hour by hour → backtest
Funding history
you earnyou payavg
RANGE STATS · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.
Price spread between the two exchanges
Phemex price against SunXnow
RANGE STATS · 7D
Now+2.621%
Average—
Range—
Wider than now—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hPENGU on 34 exchanges
lowest funding firstBefore you open
2 ok · 3 to watch- Problem: Doesn’t fit the books—$10k a leg is deeper than SunX’s order book right now.
- Note: Margin at max leverage$1,000 + $200SunX 10x, Phemex 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- OK: Same payment interval4h / 4hBoth legs pay at the same time.Next 24h at the current rates, on $10k a leg: $0.00Long SunX: 6 payments, −$3.00; short Phemex: 6 payments, +$3.00.
- OK: Entry gap works for you+2.621% vs +2.596%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Long leg is thinner$3K vs $1.6M OISunX sets your exit cost. Check its book before closing.
- Note: No points program—Neither exchange runs points right now.
- Watch: KYCSunX No · Phemex YesKYC unlocks spot and futures trading; an unverified account cannot withdraw at all.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned−0.0010%/8h × 21 periods−$2.16
Price spread+2.621% → +2.596% (7d avg)+$2.51
Slippage, 4 ordersdoesn’t fit the book at $10k—
Fee SunX bp × 2 orders−$8.00
Fee Phemex bp × 2 orders−$12.00
Net · 7 days · $10k—
doesn’t fit the books at $10kCosts to cover—Break-even—
Slippage: SunX: live order book, 43 min ago; Phemex: live order book, 6 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGSunX258.71doesn’t fitdoesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTPhemex1.5139.8 bp−$40doesn’t fitdoesn’t fitdoesn’t fit
Closing costs about the same again.
| 09-23 09:31 | Phemex | Listing | new market PENGUUSDT ($PENGU) seen by our collector |
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