Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Binance−0.200%7-day average +0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

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

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.006%+$1 on $10k

Price spread, last 4 days (all we have)+0.463%+$46 · spread now −0.200%, 7d avg +0.056%

Together, before fees+0.468%+$47 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: ApeX Omni is 0.255% cheaper against Binance than usual: you would sell low and buy high, −$26 on $10k if it goes back to its 7-day average of +0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENGUUSDT	0.008826	0.0100	pay 0.0050% / 4h	17m 21s	$36.9M	$163.2M	75x
Short	ApeX Omni PENGUUSDT	0.008808	0.0100	get 0.0013% / 1h	17m 21s	$80K	$242K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now −0.200%Rate

Funding earned: $0
Price spread: −0.200% → +0.056%: −$25.53
Slippage, 4 orders: −$23.36
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$68.88
Costs to cover: 0.434%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; ApeX Omni: live order book, 39 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 Binance live order book, 11 min ago	0.56 bp	8.5 bp −$9	16.2 bp −$162	70.8 bp −$7,079	doesn't fit
Sell ApeX Omni live order book, 39 min ago	5.14 bp	12.5 bp −$13	101.2 bp −$1,012	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	0.008824	−0.018%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008823	−0.032%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.415%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0082%	4h	0.008816	−0.109%	$3.3M	$15.7M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008819	−0.075%	$314K	$719K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008821	−0.052%	$23K	$109K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008829	+0.038%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008820	−0.068%	$118K	$589K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008815	−0.120%	$155K	$241K	5x	as long as short
Binance PENGUUSDTlong	+0.0100%	4h	0.008826	long leg	$36.9M	$163.2M	75x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDT	+0.0100%	4h	0.008819	−0.075%	$23.4M	$39.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008819	−0.075%	$7.4M	$47.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008830	+0.050%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008823	−0.030%	$10.9M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008818	−0.086%	$4.9M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008824	−0.018%	$8.3M	$12.3M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008809	−0.188%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008793	−0.370%	$292K	$314K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008803	−0.258%	$914K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008795	−0.342%	$459K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDTshort	+0.0100%	1h	0.008808	−0.200%	$80K	$242K	50x
Nado PENGU-PERP	+0.0100%	1h	0.008824	−0.018%	$592K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009034	+2.361%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008823	−0.030%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008796	−0.336%	$92K	$372K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008820	−0.062%	$184K	$941K	10x	as long as short
01 Exchange PENGUUSD	+0.0104%	1h	0.008828	+0.027%	$202	$64	5x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008816	−0.109%	$204K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008820	−0.067%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008808	−0.200%	$1.5M	$3.7M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0363%	1h	0.008830	+0.044%	$345K	$2.3M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0499% / S −0.0492%	1h	0.008824	−0.018%	$119K	—	100x	as long as short
dYdX PENGU-USD	+0.0508%	1h	0.008808	−0.195%	$12K	$5K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008950	+1.409%	$96K	$62K	50x	as long as short