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% APRpaid last 24h +0.020%

Price spread now: ApeX Omni against Variational Omni+0.136%103s7-day average +0.083% · you sell dearer than you buy

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.037%+$4 on $10k

Price spread, last 4 days (all we have)−0.170%−$17 · spread now +0.136%, 7d avg +0.083%

Together, before fees−0.133%+ Points / potential airdropVariational Omni: Active · farm board−$13 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: ApeX Omni is 0.053% dearer against Variational Omni than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.083%. The two prices were read 103 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PENGU	0.008853	0.0100	pay 0.0050% / 4h	3m 50s	$922K	$1.0M	—
Short	ApeX Omni PENGUUSDT	0.008865	0.0100	get 0.0013% / 1h	3m 50s	$80K	$242K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now +0.136%Rate

Funding earned: $0
Price spread: +0.136% → +0.083%: $5.35
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$4.65
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, just now; ApeX Omni: live order book, 53 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 Variational Omni RFQ quote, just now	3.38 bp	doesn't fit	23.7 bp −$237	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 53 min ago	5.14 bp	12.5 bp −$13	101.2 bp −$1,012	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008872	+0.213%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.722%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0088%	1h	0.008881	+0.317%	$18K	$10K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008905	+0.588%	$317K	$720K	8x	as long as short
Gate PENGU_USDT	+0.0096%	4h	0.008900	+0.531%	$3.4M	$15.9M	75x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008877	+0.272%	$23K	$94K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008869	+0.187%	$596K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008901	+0.543%	$8.3M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008904	+0.577%	$127K	$599K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008860	+0.080%	$156K	$243K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008905	+0.584%	$37.9M	$166.1M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008893	+0.452%	$23.5M	$39.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008903	+0.565%	$7.5M	$48.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008870	+0.193%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008905	+0.588%	$10.9M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008901	+0.543%	$4.8M	$9.3M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008904	+0.577%	$8.7M	$12.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008897	+0.498%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008892	+0.441%	$296K	$326K	10x	as long as short
Variational Omni PENGUlong	+0.0100%	4h	0.008853	long leg	$922K	$1.0M	—
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008865	+0.131%	$473K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDTshort	+0.0100%	1h	0.008865	+0.136%	$80K	$242K	50x
SunX PENGU-USDT	+0.0100%	4h	0.009090	+2.678%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008882	+0.328%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008902	+0.554%	$92K	$377K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008896	+0.492%	$183K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008872	+0.215%	$205K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0112%	1h	0.008859	+0.068%	$203	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008868	+0.172%	$299	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008877	+0.272%	$1.5M	$3.7M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0360%	1h	0.008896	+0.489%	$349K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0431%	1h	0.008896	+0.483%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0572%	1h	0.008874	+0.238%	$119K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008962	+1.232%	$95K	$63K	50x	as long as short