Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0138%/8h= +15.1% APRpaid last 24h +0.040%

Price spread now: Reya against Binance−0.013%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENGUUSDT	0.008736	0.0100	pay 0.0050% / 4h	18m 23s	$36.1M	$154.9M	75x
Short	Reya PENGURUSDPERP	0.008735	0.0238	get 0.0030% / 1h	18m 23s	$295	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.013%Rate

Funding earned: $28.91
Price spread: −0.013% → 0.000%: −$1.27
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $11.64
Costs to cover: 0.160%
Break-even: 4.2 days

Slippage unknown: Binance: live order book, 10 min ago; Reya: no order-book sample. 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 Binance live order book, 10 min ago	0.57 bp	6.8 bp −$7	13.1 bp −$131	66.0 bp −$6,603	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0342%	1h	0.008749	+0.153%	$368K	$2.3M	50x	as long as short
Bybit PENGUUSDT	−0.0318%	4h	0.008729	−0.080%	$22.7M	$36.8M	75x	as long as short
Gate PENGU_USDT	−0.0308%	4h	0.008733	−0.034%	$3.4M	$15.6M	75x	as long as short
Variational Omni PENGU	−0.0261%	4h	0.008723	−0.145%	$768K	$832K	—	as long as short
01 Exchange PENGUUSD	−0.0256%	1h	0.008732	−0.046%	$200	$59	5x	as long as short
Backpack PENGU_USDC_PERP	−0.0167%	1h	0.008733	−0.034%	$311K	$313K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.607%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0093%	1h	0.008744	+0.092%	$19K	$9K	10x	as long as short
Nado PENGU-PERP	−0.0006%	1h	0.008733	−0.034%	$694K	$776K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008741	+0.056%	$33K	—	150x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENGU-USD	+0.0022%	1h	0.008746	+0.111%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0090%	4h	0.008735	−0.010%	$457K	$2.1M	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008734	−0.023%	$306K	$741K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008737	+0.011%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008738	+0.023%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008742	+0.073%	$188K	$470K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008738	+0.023%	$151K	$239K	5x	as long as short
Binance PENGUUSDTlong	+0.0100%	4h	0.008736	long leg	$36.1M	$154.9M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008736	0.000%	$7.5M	$47.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	+0.046%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008736	0.000%	$12.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008739	+0.034%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008738	+0.023%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008725	−0.126%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008731	−0.057%	$79K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008950	+2.450%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008740	+0.046%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008758	+0.252%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008735	−0.013%	$180K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008736	0.000%	$202K	$17K	3x	as long as short
Reya PENGURUSDPERPshort	+0.0238%	1h	0.008735	−0.013%	$295	—	10x
BloFin PENGU-USDT	+0.0340%	4h	0.008737	+0.011%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008741	+0.057%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008768	+0.366%	$93K	$103K	50x	as long as short