Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Extended against Aevo+0.087%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$167as in the Funding arb table

Net, price: spread back to 7d avg − costs−$156as in the Price arb table

costs, in and out, $10k−$1661.659% of the position

Long on Aevo Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 4 days (all we have)−0.084%−$8 · spread now +0.087%, 7d avg −0.011%

Together, before fees−0.098%+ Points / potential airdropExtended: Active · farm board−$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.098% dearer against Aevo than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENGU-PERP	0.009067	0.0104	pay 0.0013% / 1h	5m 26s	$209K	—	3x
Short	Extended PENGU-USD	0.009075	0.0104	get 0.0013% / 1h	5m 26s	$186K	$523K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.087%Rate

Funding earned: $0
Price spread: +0.087% → −0.011%: $9.81
Slippage, 4 orders: −$144.86
Fee Aevo: 8 bp × 2 orders: −$16
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$156.05
Costs to cover: 1.659%
Break-even: never at this rate

Slippage from Aevo: live order book, 38 min ago; Extended: live order book, 38 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, 38 min ago	60.41 bp	68.4 bp −$68	277.7 bp −$2,777	doesn't fit	doesn't fit
Sell Extended live order book, 38 min ago	0.55 bp	9.3 bp −$9	88.9 bp −$889	doesn't fit	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009071	+0.047%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.066%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009087	+0.221%	$325K	$772K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009071	+0.044%	$639K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009074	+0.079%	$143K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009079	+0.132%	$137K	$260K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009074	+0.077%	$39.6M	$190.0M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009066	−0.011%	$24.3M	$44.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009067	0.000%	$8.0M	$54.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009080	+0.143%	$18K	$25K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENGU_USDT	+0.0100%	4h	0.009068	+0.011%	$3.7M	$17.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009074	+0.077%	$11.0M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009077	+0.110%	$5.1M	$10.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009078	+0.121%	$8.7M	$13.9M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009077	+0.110%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009090	+0.254%	$297K	$368K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009079	+0.131%	$925K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009042	−0.275%	$474K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009053	−0.154%	$79K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009072	+0.055%	$23K	$244K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009316	+2.746%	$2K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009087	+0.221%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009113	+0.507%	$94K	$404K	25x	as long as short
Extended PENGU-USDshort	+0.0104%	1h	0.009075	+0.087%	$186K	$523K	10x
Aevo PENGU-PERPlong	+0.0104%	1h	0.009067	long leg	$209K	—	3x
Deribit PENGU_USDC-PERPETUAL	+0.0190%	1h	0.009092	+0.276%	$1K	$29K	10x	as long as short
Hyperliquid PENGU	+0.0194%	1h	0.009080	+0.143%	$9.1M	$16.3M	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009071	+0.041%	$306	—	10x	as long as short
01 Exchange PENGUUSD	+0.0328%	1h	0.009078	+0.121%	$208	$60	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009063	−0.044%	$1.6M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0443% / S −0.0368%	1h	0.009070	+0.033%	$107K	—	100x	as long as short
dYdX PENGU-USD	+0.0554%	1h	0.009082	+0.166%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0671%	1h	0.009090	+0.254%	$337K	$2.5M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009135	+0.750%	$80K	$70K	50x	as long as short