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 −0.020%

Price spread now: Variational Omni against ApeX Omni+0.286%73s7-day average −0.082% · you sell dearer than you buy

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.036%−$4 on $10k

Price spread, last 4 days (all we have)−0.278%−$28 · spread now +0.286%, 7d avg −0.082%

Together, before fees−0.314%+ Points / potential airdropVariational Omni: Active · farm board−$31 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: Variational Omni is 0.369% dearer against ApeX Omni than usual: you sell high and buy low, +$37 on $10k if it goes back to its 7-day average of −0.082%. The two prices were read 73 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	0.009053	0.0100	pay 0.0013% / 1h	4m 18s	$79K	$252K	50x
Short	Variational Omni PENGU	0.009079	0.0100	get 0.0050% / 4h	1h 04m	$925K	$1.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.286%Rate

Funding earned: $0
Price spread: +0.286% → −0.082%: $36.86
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $26.86
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: ApeX Omni: live order book, 37 min ago; Variational Omni: RFQ quote, 5 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 ApeX Omni live order book, 37 min ago	6.06 bp	13.8 bp −$14	117.2 bp −$1,172	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	3.87 bp	doesn't fit	18.2 bp −$182	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	0.009052	−0.012%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.916%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0081%	1h	0.009057	+0.044%	$1K	$29K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.009061	+0.088%	$325K	$772K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009051	−0.022%	$638K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009060	+0.081%	$143K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009067	+0.155%	$137K	$260K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009058	+0.055%	$39.5M	$190.1M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009052	−0.011%	$24.3M	$44.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009052	−0.011%	$8.0M	$54.9M	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	0.009070	+0.188%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009048	−0.055%	$3.7M	$17.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009057	+0.044%	$11.0M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009053	0.000%	$5.1M	$10.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009057	+0.044%	$8.7M	$13.9M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009064	+0.122%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009063	+0.110%	$296K	$368K	10x	as long as short
Variational Omni PENGUshort	+0.0100%	4h	0.009079	+0.286%	$925K	$1.1M	—
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009042	−0.120%	$474K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDTlong	+0.0100%	1h	0.009053	long leg	$79K	$252K	50x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009054	+0.011%	$23K	$245K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009276	+2.463%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009055	+0.022%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009079	+0.287%	$94K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009052	−0.007%	$186K	$523K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009048	−0.055%	$209K	—	3x	as long as short
Hyperliquid PENGU	+0.0188%	1h	0.009063	+0.110%	$9.1M	$16.3M	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009054	+0.016%	$306	—	10x	as long as short
01 Exchange PENGUUSD	+0.0328%	1h	0.009056	+0.033%	$207	$60	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009076	+0.254%	$1.6M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0443% / S −0.0368%	1h	0.009052	−0.011%	$107K	—	100x	as long as short
dYdX PENGU-USD	+0.0553%	1h	0.009052	−0.015%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0673%	1h	0.009061	+0.084%	$336K	$2.5M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009135	+0.906%	$80K	$70K	50x	as long as short