PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0241%/8h= −26.4% APRnext payment −$1.20 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against BingX−0.057%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$370.374% of the position

Long on BingX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.119%−$12 on $10k

Price spread, last 7 days+0.029%+$3 · spread now −0.057%, 7d avg −0.039%

Together, before fees−0.091%−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.039%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.119% in total (about -6.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.20 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENGU-USDT	0.008781	0.0100	pay 0.0050% / 4h	1h 31m	—	$3.9M	—
Short	Bybit PENGUUSDT	0.008776	−0.0141	pay 0.0070% / 4h	1h 31m	$22.8M	$36.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BingX. 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 BingXbpFee BybitbpOrdersPrice spread, now −0.057%Rate

Funding earned: −$50.55
Price spread: −0.057% → −0.039%: −$1.77
Slippage, 4 orders: −$16.45
Fee BingX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$89.77
Costs to cover: 0.374%
Break-even: never at this rate

Slippage from BingX: live order book, 3 min ago; Bybit: live order book, 2 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 BingX live order book, 3 min ago	0.57 bp	7.5 bp −$8	12.9 bp −$129	39.5 bp −$3,953	338.6 bp −$169.3K
Sell Bybit live order book, 2 min ago	0.57 bp	10.1 bp −$10	24.8 bp −$248	122.5 bp −$12.3K	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
Kraken Futures PF_PENGUUSD	−0.0607%	1h	0.008788	+0.084%	$370K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0328%	4h	0.008775	−0.068%	$3.4M	$15.5M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0205%	1h	0.008780	−0.011%	$19K	$9K	10x	as long as short
Bybit PENGUUSDTshort	−0.0141%	4h	0.008776	−0.057%	$22.8M	$36.3M	75x
01 Exchange PENGUUSD	−0.0080%	1h	0.008783	+0.023%	$201	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008782	+0.009%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	−0.752%	$3K	$81K	5.5x	as long as short
Variational Omni PENGU	+0.0054%	4h	0.008794	+0.154%	$836K	$768K	—	as long as short
Lighter PENGU	+0.0096%	1h	0.008781	0.000%	$308K	$735K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008778	−0.034%	$679K	$757K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008785	+0.046%	$8.7M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008791	+0.113%	$189K	$466K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008787	+0.068%	$151K	$238K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008782	+0.011%	$36.6M	$152.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008781	0.000%	$7.7M	$47.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008790	+0.102%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008785	+0.046%	$12.7M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008777	−0.046%	$4.7M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008788	+0.080%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDTlong	+0.0100%	4h	0.008781	long leg	—	$3.9M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008781	0.000%	$313K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008791	+0.119%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008799	+0.205%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008778	−0.034%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008982	+2.289%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008777	−0.046%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008797	+0.182%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008782	+0.006%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008775	−0.068%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0131%	1h	0.008787	+0.073%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008773	−0.092%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008783	+0.023%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0711%	1h	0.008782	+0.011%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	+1.868%	$95K	$105K	50x	as long as short