Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.002%

Price spread now: Binance against 01 Exchange−0.028%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Binance

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—needs both histories

Funding pays, the price is against you. Binance is 0.028% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.028% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 22 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange PENGUUSD	0.008684	0	get 0.0000% / 1h	14m 35s	$199	$59	5x
Short	Binance PENGUUSDT	0.008682	0.0100	get 0.0050% / 4h	2h 14m	$35.9M	$151.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against 01 Exchange. 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 01 ExchangebpFee BinancebpOrdersPrice spread, now −0.028%Rate

Funding earned: $21
Price spread: −0.028% → 0.000%: −$2.76
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: $1.24
Costs to cover: 0.170%
Break-even: 6.6 days

Slippage unknown: 01 Exchange: no order-book sample; Binance: live order book, 14 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Binance live order book, 14 min ago	0.58 bp	9.1 bp −$9	15.3 bp −$153	70.1 bp −$7,005	doesn't fit

01 Exchange: 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	−0.0551%	1h	0.008684	0.000%	$385K	$2.1M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0326%	1h	0.008679	−0.058%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0258%	4h	0.008677	−0.081%	$3.4M	$15.4M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.357%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0014%	1h	0.008677	−0.081%	$309K	$314K	10x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008685	+0.009%	$11K	$4K	5x	as long as short
01 Exchange PENGUUSDlong	0.0000%	1h	0.008684	long leg	$199	$59	5x
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008681	−0.029%	$33K	—	150x	as long as short
Bybit PENGUUSDT	+0.0047%	4h	0.008672	−0.138%	$22.5M	$36.0M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008684	0.000%	$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
Nado PENGU-PERP	+0.0100%	1h	0.008679	−0.055%	$674K	$756K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008686	+0.023%	$8.7M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008688	+0.041%	$172K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008684	0.000%	$146K	$236K	5x	as long as short
Binance PENGUUSDTshort	+0.0100%	4h	0.008682	−0.028%	$35.9M	$151.2M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008678	−0.069%	$7.7M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008680	−0.046%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008682	−0.023%	$12.8M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008683	−0.012%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008686	+0.023%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008666	−0.207%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008675	−0.102%	$797K	$715K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008682	−0.019%	$454K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008689	+0.058%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008680	−0.046%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008889	+2.361%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008677	−0.081%	$991	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008698	+0.161%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008678	−0.072%	$179K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008675	−0.104%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008675	−0.101%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008671	−0.150%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0703%	1h	0.008681	−0.035%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008728	+0.507%	$94K	$97K	50x	as long as short