Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.035%

Price spread now: Gate against ApeX Omni+0.011%7-day average −0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$620.616% of the position

Long on ApeX Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.089%−$9 on $10k

Price spread, last 4 days (all we have)−0.082%−$8 · spread now +0.011%, 7d avg −0.053%

Together, before fees−0.171%−$17 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: Gate is 0.065% dearer against ApeX Omni than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PENGUUSDT	0.008777	0.0100	pay 0.0013% / 1h	34m 46s	$79K	$250K	50x
Short	Gate PENGU_USDT	0.008778	0.0100	get 0.0050% / 4h	2h 34m	$3.3M	$16.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.011%Rate

Funding earned: $0
Price spread: +0.011% → −0.053%: $6.45
Slippage, 4 orders: −$36.62
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$55.17
Costs to cover: 0.616%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 12 min ago; Gate: live order book, 4 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, 12 min ago	5.11 bp	13.1 bp −$13	103.8 bp −$1,038	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	3.43 bp	20.2 bp −$20	48.0 bp −$480	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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008819	+0.479%	$17K	$12K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008811	+0.387%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.137%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008760	−0.194%	$317K	$750K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008764	−0.148%	$8.0M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008759	−0.210%	$120K	$667K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008756	−0.239%	$133K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008756	−0.239%	$36.9M	$176.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008750	−0.308%	$23.2M	$41.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008754	−0.262%	$7.5M	$50.3M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.008810	+0.376%	$18K	$25K	5x	as long as short
Gate PENGU_USDTshort	+0.0100%	4h	0.008778	+0.011%	$3.3M	$16.4M	75x
MEXC PENGU_USDT	+0.0100%	4h	0.008755	−0.251%	$10.4M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008752	−0.285%	$4.9M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008760	−0.194%	$8.4M	$13.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008780	+0.034%	—	$3.7M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008795	+0.205%	$290K	$339K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008760	−0.192%	$915K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008779	+0.024%	$459K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDTlong	+0.0100%	1h	0.008777	long leg	$79K	$250K	50x
Nado PENGU-PERP	+0.0100%	1h	0.008815	+0.433%	$591K	$1.1M	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008816	+0.444%	$23K	$161K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009029	+2.871%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008812	+0.399%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008833	+0.638%	$91K	$387K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008773	−0.049%	$182K	$872K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008808	+0.353%	$203K	—	3x	as long as short
dYdX PENGU-USD	+0.0174%	1h	0.008760	−0.197%	$12K	$6K	5x	as long as short
01 Exchange PENGUUSD	+0.0176%	1h	0.008811	+0.387%	$202	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008816	+0.448%	$298	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0320%	1h	0.008815	+0.433%	$322K	$2.4M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008822	+0.513%	$1.5M	$4.4M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0499% / S −0.0422%	1h	0.008812	+0.399%	$125K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008825	+0.547%	$78K	$76K	50x	as long as short