Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: SunX against Aevo+2.532%7-day average +2.729% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Aevo Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 4 days (all we have)−0.045%−$4 · spread now +2.532%, 7d avg +2.729%

Together, before fees−0.049%−$5 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: SunX is 0.197% cheaper against Aevo than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +2.729%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENGU-PERP	0.008768	0.0104	pay 0.0013% / 1h	28m 35s	$203K	—	3x
Short	SunX PENGU-USDT	0.008990	0.0100	get 0.0050% / 4h	2h 28m	$3K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +2.532%Rate

Funding earned: −$0.84
Price spread: +2.532% → +2.729%: −$19.74
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee SunX: 4 bp × 2 orders: −$8
Net: −$44.58
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Aevo: live order book, 20 min ago; SunX: live order book, 8 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 Aevo live order book, 20 min ago	68.10 bp	83.7 bp −$84	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	247.70 bp	doesn't fit	doesn't fit	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	0.008775	+0.079%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.240%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0092%	1h	0.008777	+0.103%	$17K	$12K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008746	−0.251%	$317K	$750K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008780	+0.137%	$589K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008755	−0.148%	$8.0M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008751	−0.197%	$120K	$667K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008747	−0.240%	$133K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008746	−0.248%	$36.8M	$177.0M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008738	−0.342%	$23.1M	$41.8M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008743	−0.285%	$7.5M	$50.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008750	−0.205%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008746	−0.251%	$3.3M	$16.5M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008745	−0.262%	$10.4M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008749	−0.217%	$4.9M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008745	−0.262%	$8.3M	$13.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008748	−0.228%	—	$3.7M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008762	−0.068%	$289K	$339K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008739	−0.329%	$912K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008745	−0.258%	$457K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008731	−0.422%	$79K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008773	+0.057%	$23K	$166K	20x	as long as short
SunX PENGU-USDTshort	+0.0100%	4h	0.008990	+2.532%	$3K	$2.1M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.008769	+0.011%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008795	+0.308%	$91K	$392K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008743	−0.285%	$182K	$872K	10x	as long as short
Aevo PENGU-PERPlong	+0.0104%	1h	0.008768	long leg	$203K	—	3x
01 Exchange PENGUUSD	+0.0176%	1h	0.008786	+0.205%	$201	$64	5x	as long as short
dYdX PENGU-USD	+0.0193%	1h	0.008752	−0.185%	$12K	$6K	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008779	+0.126%	$296	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0322%	1h	0.008777	+0.098%	$320K	$2.4M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008774	+0.068%	$1.5M	$4.4M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0500% / S −0.0466%	1h	0.008778	+0.114%	$122K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008825	+0.650%	$78K	$76K	50x	as long as short