Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h +0.002%

Price spread now: 01 Exchange against SunX−2.457%7-day average — · you buy dearer than you sell

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

Long on SunX Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and 01 Exchange is 2.457% cheaper against SunX than usual: you would sell low and buy high (−$246 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PENGU-USDT	0.008873	0.0100	pay 0.0050% / 4h	2h 49m	$3K	$2.1M	10x
Short	01 Exchange PENGUUSD	0.008655	0.0048	get 0.0006% / 1h	49m 34s	$198	$59	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −2.457%Rate

Funding earned: −$10.92
Price spread: −2.457% → 0.000%: −$245.69
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$271.61
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 7 min ago; 01 Exchange: no order-book sample. 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, 7 min ago	253.73 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kraken Futures PF_PENGUUSD	−0.0552%	1h	0.008668	−2.311%	$383K	$2.1M	50x	as long as short
Bybit PENGUUSDT	−0.0405%	4h	0.008644	−2.581%	$22.6M	$35.7M	75x	as long as short
Gate PENGU_USDT	−0.0362%	4h	0.008646	−2.558%	$3.4M	$15.3M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0326%	1h	0.008669	−2.299%	$19K	$9K	10x	as long as short
Backpack PENGU_USDC_PERP	−0.0263%	1h	0.008666	−2.333%	$309K	$317K	10x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	−1.781%	$3K	$81K	5.5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008669	−2.299%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008670	−2.287%	$33K	—	150x	as long as short
01 Exchange PENGUUSDshort	+0.0048%	1h	0.008655	−2.457%	$198	$59	5x
ApeX Omni PENGUUSDT	+0.0054%	1h	0.008649	−2.525%	$79K	$254K	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENGU	+0.0096%	1h	0.008657	−2.434%	$293K	$719K	8x	as long as short
Nado PENGU-PERP	+0.0097%	1h	0.008654	−2.463%	$671K	$759K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008659	−2.412%	$8.7M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008670	−2.290%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008659	−2.412%	$142K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008653	−2.480%	$35.8M	$150.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008649	−2.525%	$7.7M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008660	−2.401%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008654	−2.468%	$12.7M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008669	−2.299%	$4.7M	$8.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008657	−2.434%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008650	−2.513%	—	$4.0M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008646	−2.563%	$794K	$712K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008652	−2.491%	$453K	$2.4M	10x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008668	−2.310%	$21K	$185K	20x	as long as short
SunX PENGU-USDTlong	+0.0100%	4h	0.008873	long leg	$3K	$2.1M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.008665	−2.344%	$980	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008678	−2.198%	$91K	$248K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008649	−2.521%	$177K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008665	−2.344%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008650	−2.509%	$292	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008647	−2.547%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0489% / S −0.0675%	1h	0.008668	−2.310%	$108K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+0.338%	$94K	$97K	50x	as long as short