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% APRnext payment +$0.00 per $10,000 · paid last 24h +0.019%

Price spread now: GRVT against Variational Omni+0.131%7-day average +0.008% · you sell dearer than you buy

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

Long on Variational Omni Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.034%+$3 on $10k

Price spread, last 4 days (all we have)−0.187%−$19 · spread now +0.131%, 7d avg +0.008%

Together, before fees−0.153%+ Points / potential airdropVariational Omni: Active · GRVT: Active · farm board−$15 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: GRVT is 0.123% dearer against Variational Omni than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.008%.

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	4m 36s	$922K	$1.0M	—
Short	GRVT PENGU_USDT_Perp	0.008865	0.0100	get 0.0050% / 4h	4m 36s	$473K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.131%Rate

Funding earned: $0
Price spread: +0.131% → +0.008%: $12.32
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $3.32
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; GRVT: 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, 4 min ago	3.92 bp	doesn't fit	21.8 bp −$218	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	3.38 bp	8.3 bp −$8	20.3 bp −$203	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	0.008875	+0.247%	$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
Lighter PENGU	+0.0096%	1h	0.008867	+0.159%	$315K	$720K	8x	as long as short
Gate PENGU_USDT	+0.0096%	4h	0.008862	+0.102%	$3.3M	$15.9M	75x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008881	+0.317%	$23K	$96K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008857	+0.051%	$595K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008859	+0.068%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008865	+0.138%	$126K	$599K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008860	+0.080%	$156K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008862	+0.102%	$37.7M	$165.9M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDT	+0.0100%	4h	0.008856	+0.034%	$23.5M	$39.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008859	+0.068%	$7.4M	$48.0M	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	0.008861	+0.091%	$10.9M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008859	+0.068%	$4.8M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008869	+0.181%	$8.6M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008858	+0.057%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008870	+0.193%	$295K	$326K	10x	as long as short
Variational Omni PENGUlong	+0.0100%	4h	0.008853	long leg	$922K	$1.0M	—
GRVT PENGU_USDT_Perpshort	+0.0100%	4h	0.008865	+0.131%	$473K	$2.1M	10x
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008865	+0.136%	$80K	$242K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009073	+2.486%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008880	+0.306%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008884	+0.351%	$92K	$377K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008860	+0.085%	$183K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008876	+0.260%	$205K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0112%	1h	0.008859	+0.068%	$203	$64	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0200%	1h	0.008886	+0.373%	$18K	$10K	10x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008857	+0.048%	$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	+0.0361%	1h	0.008886	+0.368%	$348K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0439%	1h	0.008858	+0.054%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0572%	1h	0.008877	+0.272%	$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