Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0208%/8h= +22.8% APRpaid last 24h 0.000%

Price spread now: Arcus against Variational Omni+0.282%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Arcus

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Arcus is 0.282% dearer against Variational Omni than usual: you sell high and buy low: +$28 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PENGU	0.008765	−0.0108	get 0.0054% / 4h	1h 00m	$801K	$802K	—
Short	Arcus PENGU-USD	0.008790	0.0100	get 0.0013% / 1h	0m 08s	$19K	$24K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now +0.282%Rate

Funding earned: $43.63
Price spread: +0.282% → 0.000%: $28.16
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $67.29
Costs to cover: 0.045%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 19 min ago; Arcus: 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 Variational Omni RFQ quote, 19 min ago	3.98 bp	doesn't fit	19.9 bp −$199	doesn't fit	doesn't fit
Sell Arcus no order-book sample	—	—	—	—	—

Arcus: 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	−0.0606%	1h	0.008799	+0.382%	$368K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0270%	4h	0.008784	+0.213%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0208%	4h	0.008778	+0.145%	$22.8M	$36.6M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0205%	1h	0.008788	+0.259%	$19K	$9K	10x	as long as short
01 Exchange PENGUUSD	−0.0120%	1h	0.008785	+0.225%	$201	$59	5x	as long as short
Variational Omni PENGUlong	−0.0108%	4h	0.008765	long leg	$801K	$802K	—
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008790	+0.286%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.270%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	+0.0053%	1h	0.008785	+0.225%	$684K	$760K	5x	as long as short
Backpack PENGU_USDC_PERP	+0.0075%	1h	0.008784	+0.213%	$313K	$309K	10x	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	0.008785	+0.225%	$308K	$737K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008789	+0.270%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008787	+0.247%	$8.5M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008796	+0.345%	$190K	$467K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008790	+0.282%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008784	+0.213%	$36.5M	$153.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008782	+0.190%	$7.6M	$47.2M	50x	as long as short
Arcus PENGU-USDshort	+0.0100%	1h	0.008790	+0.282%	$19K	$24K	5x
MEXC PENGU_USDT	+0.0100%	4h	0.008784	+0.213%	$12.6M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008787	+0.247%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008791	+0.293%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008785	+0.225%	—	$3.9M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008795	+0.333%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008782	+0.190%	$80K	$253K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008997	+2.643%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008784	+0.213%	$998	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008800	+0.396%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008782	+0.193%	$181K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008784	+0.213%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0122%	1h	0.008797	+0.358%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008784	+0.212%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008782	+0.190%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0711%	1h	0.008791	+0.293%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008914	+1.696%	$95K	$105K	50x	as long as short