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% APRpaid last 24h 0.000%

Price spread now: OKX against ApeX Omni+0.100%70s7-day average −0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as 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−$510.505% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 4 days (all we have)−0.171%−$17 · spread now +0.100%, 7d avg −0.050%

Together, before fees−0.215%−$22 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: OKX is 0.149% dearer against ApeX Omni than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.050%. The two prices were read 70 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	0.009042	0.0100	pay 0.0013% / 1h	12m 20s	$79K	$252K	50x
Short	OKX PENGU-USDT-SWAP	0.009051	0.0100	get 0.0050% / 4h	1h 12m	$8.0M	$54.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.100%Rate

Funding earned: $0
Price spread: +0.100% → −0.050%: $14.94
Slippage, 4 orders: −$30.51
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$35.57
Costs to cover: 0.505%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 29 min ago; OKX: live order book, 1 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, 29 min ago	6.06 bp	13.8 bp −$14	117.2 bp −$1,172	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.56 bp	14.2 bp −$14	30.8 bp −$308	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	0.009017	−0.280%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.798%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009050	+0.088%	$325K	$769K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009049	+0.077%	$637K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009064	+0.247%	$143K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009045	+0.033%	$137K	$258K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009057	+0.166%	$39.5M	$189.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009047	+0.055%	$24.0M	$44.2M	75x	as long as short
OKX PENGU-USDT-SWAPshort	+0.0100%	4h	0.009051	+0.100%	$8.0M	$54.7M	50x
Arcus PENGU-USD	+0.0100%	1h	0.009060	+0.199%	$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	0.009052	+0.111%	$3.7M	$17.5M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009058	+0.177%	$11.0M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009058	+0.177%	$5.1M	$10.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009062	+0.221%	$8.7M	$13.9M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009053	+0.122%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009015	−0.299%	$294K	$368K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009026	−0.178%	$920K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009046	+0.045%	$475K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDTlong	+0.0100%	1h	0.009042	long leg	$79K	$252K	50x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009053	+0.122%	$23K	$240K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009268	+2.499%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009056	+0.155%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009071	+0.321%	$94K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009053	+0.116%	$185K	$523K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009049	+0.077%	$209K	—	3x	as long as short
Hyperliquid PENGU	+0.0228%	1h	0.009063	+0.232%	$9.1M	$16.3M	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009054	+0.134%	$306	—	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0302%	1h	0.009059	+0.188%	$1K	$29K	10x	as long as short
01 Exchange PENGUUSD	+0.0336%	1h	0.009046	+0.044%	$207	$60	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009017	−0.276%	$1.6M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0443% / S −0.0368%	1h	0.009052	+0.111%	$107K	—	100x	as long as short
dYdX PENGU-USD	+0.0592%	1h	0.009054	+0.128%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0673%	1h	0.009062	+0.216%	$337K	$2.5M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009135	+1.029%	$80K	$70K	50x	as long as short