Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0018%/8h= −2.0% APRpaid last 24h −0.032%

Price spread now: Gate against 01 Exchange+0.113%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on Gate

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

The price spread pays, funding is against you. Gate is 0.113% dearer against 01 Exchange than usual: you sell high and buy low (spread +0.113% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 21 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange PENGUUSD	0.008822	0.0096	pay 0.0012% / 1h	10m 44s	$202	$64	5x
Short	Gate PENGU_USDT	0.008832	0.0078	get 0.0039% / 4h	2h 10m	$3.4M	$15.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.113%Rate

Funding earned: −$3.78
Price spread: +0.113% → 0.000%: $11.34
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$14.44
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; Gate: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Gate live order book, 3 min ago	1.71 bp	19.2 bp −$19	58.1 bp −$581	doesn't fit	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 33 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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008837	+0.170%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008823	+0.008%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.374%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDTshort	+0.0078%	4h	0.008832	+0.113%	$3.4M	$15.6M	75x
Lighter PENGU	+0.0096%	1h	0.008822	0.000%	$313K	$709K	8x	as long as short
01 Exchange PENGUUSDlong	+0.0096%	1h	0.008822	long leg	$202	$64	5x
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008839	+0.193%	$19K	$161K	20x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008820	−0.023%	$876K	$999K	—	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008836	+0.159%	$8.2M	$14.9M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008835	+0.145%	$141K	$516K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008818	−0.045%	$155K	$245K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008815	−0.082%	$37.5M	$158.1M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008810	−0.136%	$23.2M	$38.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008812	−0.113%	$7.5M	$47.6M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008820	−0.023%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008818	−0.045%	$11.9M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008834	+0.136%	$4.7M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008818	−0.045%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008822	0.000%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008834	+0.136%	$303K	$300K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008810	−0.136%	$462K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008800	−0.249%	$80K	$243K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008821	−0.011%	$595K	$994K	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009036	+2.426%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008841	+0.215%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008853	+0.351%	$94K	$337K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008811	−0.127%	$185K	$941K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008831	+0.102%	$204K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0209%	1h	0.008849	+0.305%	$363K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008819	−0.038%	$298	—	10x	as long as short
dYdX PENGU-USD	+0.0335%	1h	0.008818	−0.048%	$12K	$4K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0513% / S −0.0708%	1h	0.008825	+0.034%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.644%	$95K	$94K	50x	as long as short