Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: BingX against ApeX Omni+0.205%7-day average −0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$430.434% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 3 days (all we have)−0.616%−$62 · spread now +0.205%, 7d avg −0.050%

Together, before fees−0.605%−$61 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: BingX is 0.255% dearer against ApeX Omni than usual: you sell high and buy low, +$26 on $10k if it goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PENGUUSDT	0.008788	0.0100	pay 0.0013% / 1h	14m 58s	$80K	$253K	50x
Short	BingX PENGU-USDT	0.008806	0.0100	get 0.0050% / 4h	1h 14m	—	$3.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.205%Rate

Funding earned: $0
Price spread: +0.205% → −0.050%: $25.51
Slippage, 4 orders: −$23.41
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$17.9
Costs to cover: 0.434%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 2 min ago; BingX: live order book, 10 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, 2 min ago	6.25 bp	14.2 bp −$14	98.5 bp −$985	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	0.57 bp	6.9 bp −$7	14.1 bp −$141	41.1 bp −$4,114	300.3 bp −$150.2K

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	−0.0605%	1h	0.008813	+0.284%	$369K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0292%	4h	0.008806	+0.205%	$3.4M	$15.6M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0204%	1h	0.008797	+0.102%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0169%	4h	0.008803	+0.171%	$22.9M	$36.5M	75x	as long as short
01 Exchange PENGUUSD	−0.0096%	1h	0.008787	−0.011%	$201	$59	5x	as long as short
Variational Omni PENGU	−0.0046%	4h	0.008785	−0.030%	$802K	$802K	—	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008800	+0.139%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.011%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	+0.0079%	1h	0.008789	+0.011%	$684K	$760K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008806	+0.205%	$309K	$736K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008812	+0.273%	$8.8M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008812	+0.275%	$190K	$466K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008792	+0.046%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008808	+0.229%	$36.6M	$153.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008806	+0.205%	$7.7M	$47.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008790	+0.023%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008808	+0.228%	$12.7M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008811	+0.262%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008812	+0.273%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDTshort	+0.0100%	4h	0.008806	+0.205%	—	$3.9M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008805	+0.193%	$314K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008784	−0.046%	$459K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDTlong	+0.0100%	1h	0.008788	long leg	$80K	$253K	50x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008797	+0.102%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009004	+2.458%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008802	+0.159%	$996	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008814	+0.296%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008804	+0.184%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008793	+0.057%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0125%	1h	0.008798	+0.118%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008792	+0.051%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008805	+0.193%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0711%	1h	0.008801	+0.148%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	+1.787%	$95K	$105K	50x	as long as short