Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Variational Omni−0.398%7-day average −0.019% · you buy dearer than you sell

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

Long on Variational Omni Short on Extended

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.015%+$2 on $10k

Price spread, last 3 days (all we have)+0.100%+$10 · spread now −0.398%, 7d avg −0.019%

Together, before fees+0.115%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board+$12 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: Extended is 0.378% cheaper against Variational Omni than usual: you would sell low and buy high, −$38 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PENGU	0.008709	0.0100	pay 0.0050% / 4h	2h 16m	$799K	$714K	—
Short	Extended PENGU-USD	0.008674	0.0104	get 0.0013% / 1h	16m 09s	$179K	$682K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpOrdersPrice spread, now −0.398%Rate

Funding earned: $0.84
Price spread: −0.398% → −0.019%: −$37.83
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$41.99
Costs to cover: 0.050%
Break-even: 356.9 days

Slippage unknown: Variational Omni: RFQ quote, 8 min ago; Extended: live order book, 7 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, 8 min ago	4.03 bp	doesn't fit	29.3 bp −$293	doesn't fit	doesn't fit
Sell Extended live order book, 7 min ago	0.57 bp	9.9 bp −$10	66.0 bp −$660	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
Kraken Futures PF_PENGUUSD	−0.0551%	1h	0.008681	−0.316%	$385K	$2.1M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0326%	1h	0.008678	−0.356%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0262%	4h	0.008674	−0.402%	$3.4M	$15.4M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.069%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0005%	1h	0.008675	−0.391%	$309K	$314K	10x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008692	−0.198%	$11K	$4K	5x	as long as short
01 Exchange PENGUUSD	0.0000%	1h	0.008683	−0.299%	$199	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008682	−0.313%	$33K	—	150x	as long as short
Bybit PENGUUSDT	+0.0044%	4h	0.008670	−0.448%	$22.5M	$36.0M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008678	−0.356%	$297K	$723K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008682	−0.310%	$8.7M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008682	−0.315%	$172K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008684	−0.287%	$146K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008677	−0.368%	$35.9M	$151.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008675	−0.391%	$7.7M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008680	−0.333%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008676	−0.379%	$12.8M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008679	−0.345%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008682	−0.310%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008677	−0.368%	—	$3.9M	—	as long as short
Variational Omni PENGUlong	+0.0100%	4h	0.008709	long leg	$799K	$714K	—
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008696	−0.149%	$455K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008718	+0.103%	$79K	$253K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008680	−0.327%	$674K	$756K	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008679	−0.345%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008887	+2.044%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008676	−0.379%	$990	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008703	−0.069%	$91K	$249K	25x	as long as short
Extended PENGU-USDshort	+0.0104%	1h	0.008674	−0.398%	$179K	$682K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008675	−0.391%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008675	−0.394%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008685	−0.276%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0703%	1h	0.008681	−0.322%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008728	+0.218%	$94K	$97K	50x	as long as short