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 −0.020%

Price spread now: Bybit against Bitget−0.099%7-day average −0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$540.538% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.136%−$14 on $10k

Price spread, last 7 days+0.028%+$3 · spread now −0.099%, 7d avg −0.096%

Together, before fees−0.108%−$11 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENGUUSDT	0.009130	0.0100	pay 0.0050% / 4h	40m 48s	$8.8M	$14.1M	75x
Short	Bybit PENGUUSDT	0.009121	0.0100	get 0.0050% / 4h	40m 48s	$24.5M	$44.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now −0.099%Rate

Funding earned: $0
Price spread: −0.099% → −0.096%: −$0.26
Slippage, 4 orders: −$30.79
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$54.05
Costs to cover: 0.538%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Bybit: live order book, 3 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 Bitget live order book, 3 min ago	0.55 bp	14.0 bp −$14	31.4 bp −$314	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.55 bp	11.5 bp −$11	30.4 bp −$304	106.5 bp −$10.7K	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	0.009142	+0.134%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.735%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009149	+0.208%	$330K	$772K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009135	+0.060%	$644K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009156	+0.285%	$9.3M	$16.4M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009136	+0.066%	$144K	$715K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009155	+0.274%	$138K	$264K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009135	+0.057%	$40.0M	$192.1M	75x	as long as short
Bybit PENGUUSDTshort	+0.0100%	4h	0.009121	−0.099%	$24.5M	$44.8M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009118	−0.131%	$8.0M	$56.0M	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	0.009160	+0.329%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009129	−0.011%	$3.7M	$17.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009134	+0.044%	$11.0M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009134	+0.044%	$5.0M	$10.3M	75x	as long as short
Bitget PENGUUSDTlong	+0.0100%	4h	0.009130	long leg	$8.8M	$14.1M	75x
BingX PENGU-USDC	+0.0100%	4h	0.009130	0.000%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009143	+0.142%	$297K	$371K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009144	+0.150%	$932K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009128	−0.022%	$483K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009134	+0.044%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009146	+0.175%	$24K	$267K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009356	+2.475%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009147	+0.186%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009174	+0.482%	$95K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009128	−0.022%	$187K	$742K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009153	+0.252%	$211K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009138	+0.083%	$309	—	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0297%	1h	0.009150	+0.219%	$1K	$29K	10x	as long as short
01 Exchange PENGUUSD	+0.0328%	1h	0.009164	+0.372%	$210	$41	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009153	+0.252%	$1.6M	$5.0M	75x	as long as short
dYdX PENGU-USD	+0.0357%	1h	0.009146	+0.176%	$12K	$6K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0434% / S −0.0352%	1h	0.009141	+0.120%	$105K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0534%	1h	0.009150	+0.222%	$345K	$2.6M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1928%	1h	0.009196	+0.723%	$81K	$74K	50x	as long as short