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 +0.020%

Price spread now: SunX against Variational Omni+2.252%7-day average +2.758% · you sell dearer than you buy

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

Long on Variational Omni Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.035%+$3 on $10k

Price spread, last 4 days (all we have)+0.279%+$28 · spread now +2.252%, 7d avg +2.758%

Together, before fees+0.314%+ Points / potential airdropVariational Omni: Active · farm board+$31 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: SunX is 0.506% cheaper against Variational Omni than usual: you would sell low and buy high, −$51 on $10k if it goes back to its 7-day average of +2.758%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PENGU	0.008747	0.0100	pay 0.0050% / 4h	53m 06s	$870K	$985K	—
Short	SunX PENGU-USDT	0.008944	0.0100	get 0.0050% / 4h	53m 06s	$3K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +2.252%Rate

Funding earned: $0
Price spread: +2.252% → +2.758%: −$50.6
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$58.6
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 6 min ago; SunX: live order book, 3 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, 6 min ago	3.44 bp	doesn't fit	20.6 bp −$206	doesn't fit	doesn't fit
Sell SunX live order book, 3 min ago	250.35 bp	doesn't fit	doesn't fit	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
ApeX Omni PENGUUSDT	−0.0359%	1h	0.008737	−0.115%	$80K	$242K	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008742	−0.058%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008742	−0.059%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0016%	4h	0.008738	−0.104%	$3.3M	$15.5M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.480%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0064%	1h	0.008739	−0.092%	$200	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008743	−0.046%	$311K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008743	−0.046%	$23K	$132K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008736	−0.121%	$585K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008744	−0.035%	$8.1M	$14.7M	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	0.008746	−0.010%	$121K	$579K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008735	−0.138%	$154K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008738	−0.101%	$36.4M	$161.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008736	−0.126%	$23.1M	$39.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008738	−0.104%	$7.2M	$46.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008730	−0.195%	$19K	$23K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008742	−0.058%	$11.2M	$12.2M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008741	−0.069%	$4.8M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008743	−0.046%	$8.2M	$12.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008738	−0.104%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008740	−0.081%	$298K	$295K	10x	as long as short
Variational Omni PENGUlong	+0.0100%	4h	0.008747	long leg	$870K	$985K	—
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008757	+0.112%	$460K	$2.1M	10x	as long as short
SunX PENGU-USDTshort	+0.0100%	4h	0.008944	+2.252%	$3K	$2.0M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.008741	−0.069%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008742	−0.058%	$91K	$372K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008740	−0.081%	$184K	$942K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008734	−0.149%	$202K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008737	−0.110%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008736	−0.126%	$1.5M	$3.5M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0366%	1h	0.008751	+0.045%	$342K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0442%	1h	0.008738	−0.106%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0439%	1h	0.008743	−0.046%	$128K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008967	+2.514%	$95K	$61K	50x	as long as short