Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Binance against Aevo0.000%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$870.869% of the position

Long on Aevo Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$3 on $10k

Price spread, last 3 days (all we have)+0.004%$0 · spread now 0.000%, 7d avg +0.016%

Together, before fees−0.021%−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENGU-PERP	0.008785	0.0104	pay 0.0013% / 1h	25m 21s	$203K	$17K	3x
Short	Binance PENGUUSDT	0.008785	0.0100	get 0.0050% / 4h	1h 25m	$36.6M	$152.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Aevo. 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 AevobpFee BinancebpOrdersPrice spread, now 0.000%Rate

Funding earned: −$0.84
Price spread: 0.000% → +0.016%: −$1.64
Slippage, 4 orders: −$60.87
Fee Aevo: 8 bp × 2 orders: −$16
Fee Binance: 5 bp × 2 orders: −$10
Net: −$89.35
Costs to cover: 0.869%
Break-even: never at this rate

Slippage from Aevo: live order book, 58 min ago; Binance: live order book, 3 min ago.

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 Aevo live order book, 58 min ago	11.49 bp	38.9 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	0.57 bp	9.8 bp −$10	16.8 bp −$168	71.4 bp −$7,142	doesn't fit

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	−0.0606%	1h	0.008797	+0.141%	$370K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0316%	4h	0.008780	−0.057%	$3.4M	$15.6M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0205%	1h	0.008787	+0.023%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0147%	4h	0.008780	−0.057%	$22.9M	$36.4M	75x	as long as short
01 Exchange PENGUUSD	−0.0080%	1h	0.008778	−0.080%	$201	$59	5x	as long as short
Variational Omni PENGU	+0.0001%	4h	0.008766	−0.212%	$801K	$802K	—	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008789	+0.048%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	−0.797%	$3K	$81K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008788	+0.034%	$308K	$736K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008785	0.000%	$8.7M	$15.0M	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008787	+0.025%	$189K	$466K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008770	−0.171%	$150K	$238K	5x	as long as short
Binance PENGUUSDTshort	+0.0100%	4h	0.008785	0.000%	$36.6M	$152.9M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008782	−0.034%	$7.7M	$47.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008780	−0.057%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008781	−0.046%	$12.7M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008782	−0.034%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008788	+0.034%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008771	−0.159%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008770	−0.171%	$313K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008803	+0.205%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008808	+0.262%	$80K	$253K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008774	−0.120%	$683K	$759K	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008785	0.000%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008987	+2.299%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008786	+0.011%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008802	+0.194%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008783	−0.019%	$181K	$682K	10x	as long as short
Aevo PENGU-PERPlong	+0.0104%	1h	0.008785	long leg	$203K	$17K	3x
dYdX PENGU-USD	+0.0138%	1h	0.008778	−0.077%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008778	−0.080%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008782	−0.034%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0711%	1h	0.008790	+0.057%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	+1.821%	$95K	$105K	50x	as long as short