Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.003%

Price spread now: SunX against 01 Exchange+2.265%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 SunX

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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 2.265% dearer against 01 Exchange than usual: you sell high and buy low, +$227 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	01 Exchange PENGUUSD	0.008830	0.0096	pay 0.0012% / 1h	6m 22s	$202	$64	5x
Short	SunX PENGU-USDT	0.009030	0.0100	get 0.0050% / 4h	2h 06m	$3K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +2.265%Rate

Funding earned: $0.84
Price spread: +2.265% → 0.000%: $226.5
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: $212.34
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: 01 Exchange: no order-book sample; SunX: live order book, 10 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 SunX live order book, 10 min ago	327.67 bp	doesn't fit	doesn't fit	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	0.008823	−0.079%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008820	−0.114%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.464%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0092%	4h	0.008821	−0.102%	$3.4M	$15.6M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008831	+0.011%	$314K	$709K	8x	as long as short
01 Exchange PENGUUSDlong	+0.0096%	1h	0.008830	long leg	$202	$64	5x
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008822	−0.091%	$19K	$161K	20x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008820	−0.114%	$876K	$999K	—	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008820	−0.113%	$594K	$989K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008828	−0.023%	$8.2M	$14.7M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008828	−0.023%	$141K	$521K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008828	−0.023%	$155K	$245K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008825	−0.054%	$37.5M	$157.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008819	−0.125%	$23.2M	$38.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008818	−0.136%	$7.5M	$47.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008830	0.000%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008827	−0.034%	$11.9M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008827	−0.034%	$4.7M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008829	−0.011%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008813	−0.193%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008822	−0.091%	$302K	$296K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008793	−0.417%	$463K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008793	−0.419%	$80K	$244K	50x	as long as short
SunX PENGU-USDTshort	+0.0100%	4h	0.009030	+2.265%	$3K	$2.1M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.008824	−0.068%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008831	+0.011%	$94K	$337K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008825	−0.057%	$185K	$941K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008815	−0.170%	$204K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0209%	1h	0.008834	+0.040%	$363K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008827	−0.035%	$298	—	10x	as long as short
dYdX PENGU-USD	+0.0334%	1h	0.008832	+0.020%	$12K	$4K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0513% / S −0.0582%	1h	0.008819	−0.125%	$120K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.552%	$95K	$94K	50x	as long as short