Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h −0.014%

Price spread now: Variational Omni against 01 Exchange+0.144%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 Variational Omni

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Variational Omni is 0.144% dearer against 01 Exchange than usual: you sell high and buy low: +$14 more if the spread 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	0.008968	0.0080	pay 0.0010% / 1h	33m 05s	$205	$64	5x
Short	Variational Omni PENGU	0.008981	0.0100	get 0.0050% / 4h	3h 33m	$937K	$1.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.144%Rate

Funding earned: $4.2
Price spread: +0.144% → 0.000%: $14.42
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $11.62
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: 01 Exchange: no order-book sample; Variational Omni: RFQ quote, 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 Variational Omni RFQ quote, 1 min ago	3.35 bp	doesn't fit	21.2 bp −$212	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
Gate PENGU_USDT	−0.0066%	4h	0.008957	−0.123%	$3.4M	$16.4M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008973	+0.056%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008967	−0.014%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.996%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0039%	1h	0.008956	−0.129%	$12K	$5K	5x	as long as short
01 Exchange PENGUUSDlong	+0.0080%	1h	0.008968	long leg	$205	$64	5x
Lighter PENGU	+0.0096%	1h	0.008965	−0.033%	$326K	$751K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008964	−0.045%	$601K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008964	−0.045%	$8.4M	$14.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008965	−0.038%	$138K	$640K	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	0.008956	−0.134%	$137K	$272K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008963	−0.056%	$38.4M	$171.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008957	−0.123%	$23.9M	$40.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008952	−0.178%	$7.8M	$50.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008970	+0.022%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008961	−0.078%	$11.1M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008958	−0.112%	$5.0M	$9.4M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008965	−0.033%	$8.7M	$12.9M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008946	−0.245%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008957	−0.123%	$299K	$327K	10x	as long as short
Variational Omni PENGUshort	+0.0100%	4h	0.008981	+0.144%	$937K	$1.0M	—
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008984	+0.178%	$468K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009012	+0.491%	$82K	$251K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008968	0.000%	$24K	$98K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009189	+2.464%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008964	−0.045%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008982	+0.156%	$93K	$379K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008961	−0.073%	$186K	$939K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008967	−0.011%	$207K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008963	−0.060%	$303	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008962	−0.067%	$1.6M	$4.2M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0503% / S −0.0415%	1h	0.008966	−0.022%	$128K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0610%	1h	0.008970	+0.022%	$351K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.009010	+0.468%	$95K	$62K	50x	as long as short