Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.006%

Price spread now: OKX against 01 Exchange−0.191%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 OKX

What this pair did over the last

the charts below follow

Funding, last 4 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. OKX is 0.191% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.191% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 53 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange PENGUUSD	0.008899	0.0088	pay 0.0011% / 1h	28m 01s	$204	$64	5x
Short	OKX PENGU-USDT-SWAP	0.008882	0.0100	get 0.0050% / 4h	28m 01s	$7.4M	$47.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.191%Rate

Funding earned: $2.52
Price spread: −0.191% → 0.000%: −$19.1
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$33.58
Costs to cover: 0.170%
Break-even: 100.3 days

Slippage unknown: 01 Exchange: no order-book sample; OKX: live order book, 1 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 OKX live order book, 1 min ago	0.56 bp	11.4 bp −$11	31.5 bp −$315	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 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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008865	−0.382%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008872	−0.299%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.236%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0072%	4h	0.008865	−0.382%	$3.3M	$15.7M	75x	as long as short
01 Exchange PENGUUSDlong	+0.0088%	1h	0.008899	long leg	$204	$64	5x
Lighter PENGU	+0.0096%	1h	0.008871	−0.315%	$316K	$718K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008862	−0.416%	$23K	$123K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008896	−0.034%	$599K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008869	−0.337%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008869	−0.340%	$123K	$589K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008892	−0.079%	$156K	$241K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008879	−0.222%	$37.2M	$163.0M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008876	−0.258%	$23.6M	$39.4M	75x	as long as short
OKX PENGU-USDT-SWAPshort	+0.0100%	4h	0.008882	−0.191%	$7.4M	$47.8M	50x
Arcus PENGU-USD	+0.0100%	1h	0.008900	+0.011%	$20K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008879	−0.225%	$11.0M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008866	−0.371%	$4.9M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008880	−0.214%	$8.3M	$12.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008868	−0.348%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008869	−0.337%	$300K	$312K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008831	−0.765%	$877K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008854	−0.509%	$461K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008788	−1.247%	$80K	$242K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009078	+2.011%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008861	−0.427%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008916	+0.191%	$93K	$371K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008876	−0.261%	$186K	$946K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008855	−0.494%	$205K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008905	+0.070%	$301	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008871	−0.315%	$1.5M	$3.7M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0361%	1h	0.008873	−0.293%	$347K	$2.3M	50x	as long as short
dYdX PENGU-USD	+0.0501%	1h	0.008887	−0.139%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0517% / S −0.0584%	1h	0.008874	−0.281%	$121K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008921	+0.247%	$95K	$61K	50x	as long as short