Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Binance against ApeX Omni−0.089%109s7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$470.469% of the position

Long on ApeX Omni Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.363%−$36 · spread now −0.089%, 7d avg −0.050%

Together, before fees−0.360%−$36 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: Binance is 0.039% cheaper against ApeX Omni than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.050%. The two prices were read 109 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PENGUUSDT	0.009106	0.0100	pay 0.0013% / 1h	35m 37s	$80K	$252K	50x
Short	Binance PENGUUSDT	0.009098	0.0100	get 0.0050% / 4h	3h 35m	$40.2M	$196.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against ApeX Omni. 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 ApeX OmnibpFee BinancebpOrdersPrice spread, now −0.089%Rate

Funding earned: $0
Price spread: −0.089% → −0.050%: −$3.9
Slippage, 4 orders: −$26.89
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$50.79
Costs to cover: 0.469%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 61 min ago; Binance: live order book, 8 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 ApeX Omni live order book, 61 min ago	4.91 bp	14.0 bp −$14	99.1 bp −$991	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.55 bp	9.2 bp −$9	19.9 bp −$199	68.7 bp −$6,870	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
Gate PENGU_USDT	−0.0196%	4h	0.009090	−0.176%	$3.7M	$17.8M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009110	+0.049%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.481%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0079%	1h	0.009121	+0.165%	$1K	$29K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.009102	−0.044%	$331K	$756K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009106	0.000%	$9.3M	$16.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009100	−0.071%	$131K	$761K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009097	−0.099%	$137K	$274K	5x	as long as short
Binance PENGUUSDTshort	+0.0100%	4h	0.009098	−0.089%	$40.2M	$196.4M	75x
Bybit PENGUUSDT	+0.0100%	4h	0.009089	−0.187%	$24.6M	$46.9M	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	0.009093	−0.143%	$8.2M	$58.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009110	+0.044%	$18K	$26K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009100	−0.066%	$11.6M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009098	−0.088%	$5.1M	$10.5M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009102	−0.044%	$8.8M	$15.1M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009097	−0.099%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009105	−0.011%	$316K	$388K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009099	−0.077%	$940K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009097	−0.099%	$474K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDTlong	+0.0100%	1h	0.009106	long leg	$80K	$252K	50x
Nado PENGU-PERP	+0.0100%	1h	0.009096	−0.107%	$647K	$1.1M	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009113	+0.077%	$23K	$325K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009318	+2.328%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009118	+0.132%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009126	+0.220%	$95K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009097	−0.095%	$190K	$744K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009114	+0.088%	$211K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009113	+0.074%	$308	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009131	+0.275%	$1.6M	$5.3M	75x	as long as short
01 Exchange PENGUUSD	+0.0368%	1h	0.009106	0.000%	$208	$41	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0378%	1h	0.009123	+0.186%	$351K	$2.7M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0432% / S −0.0351%	1h	0.009111	+0.055%	$104K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2088%	1h	0.009211	+1.153%	$81K	$73K	50x	as long as short
dYdX PENGU-USD	+0.2255%	1h	0.009100	−0.065%	$16K	$11K	5x	as long as short