Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against BingX−0.168%7-day average +0.325% · you buy dearer than you sell

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs−$196as in the Price arb table

costs, in and out, $10k−$1471.468% of the position

Long on BingX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.215%+$21 on $10k

Price spread, last 4 days (all we have)+0.507%+$51 · spread now −0.168%, 7d avg +0.325%

Together, before fees+0.722%+$72 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: HTX is 0.494% cheaper against BingX than usual: you would sell low and buy high, −$49 on $10k if it goes back to its 7-day average of +0.325%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENGU-USDC	0.008921	0.0100	pay 0.0050% / 4h	3h 21m	—	$2.3M	—
Short	HTX PENGU-USDT	0.008906	0.0100	get 0.0050% / 4h	3h 21m	$92K	$378K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.168%Rate

Funding earned: $0
Price spread: −0.168% → +0.325%: −$49.36
Slippage, 4 orders: −$124.79
Fee BingX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$196.15
Costs to cover: 1.468%
Break-even: never at this rate

Slippage from BingX: live order book, 12 min ago; HTX: live order book, 31 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, 12 min ago	2.24 bp	17.0 bp −$17	57.0 bp −$570	310.5 bp −$31.1K	873.6 bp −$436.8K
Sell HTX live order book, 31 min ago	8.81 bp	98.5 bp −$98	doesn't fit	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	0.008889	−0.359%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008892	−0.329%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.480%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0035%	1h	0.008930	+0.105%	$12K	$5K	5x	as long as short
Gate PENGU_USDT	+0.0048%	4h	0.008928	+0.078%	$3.3M	$16.5M	75x	as long as short
01 Exchange PENGUUSD	+0.0080%	1h	0.008935	+0.157%	$204	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008927	+0.067%	$325K	$752K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008933	+0.135%	$599K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008935	+0.157%	$8.5M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008932	+0.122%	$138K	$643K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008927	+0.067%	$136K	$272K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008933	+0.130%	$38.1M	$172.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008926	+0.056%	$23.7M	$41.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008930	+0.101%	$7.8M	$50.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008930	+0.101%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008931	+0.112%	$10.8M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008917	−0.045%	$5.0M	$9.5M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008939	+0.202%	$8.7M	$13.0M	75x	as long as short
BingX PENGU-USDClong	+0.0100%	4h	0.008921	long leg	—	$2.3M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008885	−0.404%	$297K	$328K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008894	−0.304%	$928K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008910	−0.123%	$474K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008925	+0.045%	$81K	$251K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008889	−0.359%	$23K	$106K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009103	+2.040%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008890	−0.347%	$1K	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.008906	−0.168%	$92K	$378K	25x
Extended PENGU-USD	+0.0104%	1h	0.008934	+0.146%	$184K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008878	−0.482%	$205K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008927	+0.068%	$301	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008919	−0.022%	$1.5M	$4.1M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0501% / S −0.0415%	1h	0.008888	−0.370%	$127K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0615%	1h	0.008895	−0.291%	$326K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.008940	+0.213%	$94K	$62K	50x	as long as short