Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: BingX against Variational Omni+0.268%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 BingX

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.268% dearer against Variational Omni than usual: you sell high and buy low, +$27 on $10k if it 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	0.009090	0.0100	pay 0.0050% / 4h	2h 22m	$916K	$1.2M	—
Short	BingX PENGU-USDC	0.009114	0.0100	get 0.0050% / 4h	2h 22m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.268%Rate

Funding earned: $0
Price spread: +0.268% → 0.000%: $26.8
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: $16.8
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; BingX: live order book, 4 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, 5 min ago	3.84 bp	doesn't fit	29.1 bp −$291	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	2.20 bp	11.8 bp −$12	51.6 bp −$516	448.0 bp −$44.8K	doesn't fit

PENGU on 34 exchanges

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	0.009120	+0.335%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.307%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0079%	1h	0.009125	+0.389%	$1K	$28K	10x	as long as short
Gate PENGU_USDT	+0.0082%	4h	0.009117	+0.301%	$3.8M	$17.9M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.009129	+0.433%	$327K	$711K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009123	+0.373%	$652K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009124	+0.376%	$139K	$791K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009111	+0.235%	$137K	$237K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009120	+0.337%	$40.1M	$196.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009108	+0.202%	$24.7M	$47.6M	75x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009113	+0.257%	$8.3M	$58.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009130	+0.444%	$18K	$26K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009123	+0.367%	$12.1M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009122	+0.356%	$5.1M	$10.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009128	+0.422%	$8.9M	$14.9M	75x	as long as short
BingX PENGU-USDCshort	+0.0100%	4h	0.009114	+0.268%	—	$2.3M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009120	+0.334%	$305K	$373K	10x	as long as short
Variational Omni PENGUlong	+0.0100%	4h	0.009090	long leg	$916K	$1.2M	—
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009115	+0.274%	$481K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009121	+0.345%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009122	+0.356%	$23K	$360K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009331	+2.655%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009123	+0.367%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009134	+0.488%	$94K	$424K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009119	+0.326%	$187K	$743K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009122	+0.356%	$211K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0213%	1h	0.009127	+0.408%	$334K	$2.7M	50x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009122	+0.359%	$308	—	10x	as long as short
01 Exchange PENGUUSD	+0.0320%	1h	0.009126	+0.400%	$209	$141	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009104	+0.158%	$1.6M	$5.3M	75x	as long as short
Hyperliquid PENGU	+0.0348%	1h	0.009134	+0.488%	$9.8M	$17.0M	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0435% / S −0.0357%	1h	0.009118	+0.312%	$105K	—	100x	as long as short
dYdX PENGU-USD	+0.1145%	1h	0.009100	+0.109%	$22K	$18K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2288%	1h	0.009071	−0.205%	$83K	$94K	50x	as long as short