Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SoDEX against Variational Omni+0.562%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 SoDEX

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.562% dearer against Variational Omni than usual: you sell high and buy low, +$56 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	0.008772	0.0100	pay 0.0050% / 4h	1h 43m	$801K	$735K	—
Short	SoDEX PENGU-USD	0.008821	0.0100	get 0.0013% / 1h	43m 07s	$1K	$5K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.562%Rate

Funding earned: $0
Price spread: +0.562% → 0.000%: $56.24
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $48.24
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 41 min ago; SoDEX: 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, 41 min ago	4.03 bp	doesn't fit	29.3 bp −$293	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	−0.0604%	1h	0.008831	+0.681%	$374K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0296%	4h	0.008820	+0.551%	$3.5M	$15.5M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0090%	1h	0.008822	+0.574%	$19K	$9K	10x	as long as short
01 Exchange PENGUUSD	−0.0080%	1h	0.008833	+0.699%	$202	$59	5x	as long as short
Bybit PENGUUSDT	−0.0050%	4h	0.008823	+0.585%	$22.9M	$36.1M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008823	+0.585%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	−0.646%	$3K	$81K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008824	+0.597%	$302K	$726K	8x	as long as short
Nado PENGU-PERP	+0.0098%	1h	0.008823	+0.591%	$683K	$757K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008827	+0.631%	$8.8M	$15.0M	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008830	+0.662%	$175K	$449K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008828	+0.642%	$149K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008828	+0.642%	$36.5M	$151.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008830	+0.665%	$7.7M	$47.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008830	+0.665%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008826	+0.619%	$13.1M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008830	+0.665%	$4.8M	$8.8M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008838	+0.756%	$8.4M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008810	+0.437%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008824	+0.597%	$315K	$309K	10x	as long as short
Variational Omni PENGUlong	+0.0100%	4h	0.008772	long leg	$801K	$735K	—
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008809	+0.425%	$461K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008809	+0.426%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008823	+0.585%	$24K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009044	+3.105%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USDshort	+0.0100%	1h	0.008821	+0.562%	$1K	$5K	5x
HTX PENGU-USDT	+0.0100%	4h	0.008848	+0.870%	$92K	$250K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008831	+0.676%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008817	+0.517%	$204K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0131%	1h	0.008834	+0.705%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008822	+0.576%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008824	+0.597%	$1.5M	$2.7M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0711%	1h	0.008822	+0.574%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008854	+0.939%	$95K	$101K	50x	as long as short