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% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Bitget+2.637%7-day average +2.671% · you sell dearer than you buy

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

Long on Bitget Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.208%−$21 · spread now +2.637%, 7d avg +2.671%

Together, before fees−0.208%−$21 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: SunX is 0.034% cheaper against Bitget than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +2.671%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENGUUSDT	0.008797	0.0100	pay 0.0050% / 4h	2h 20m	$8.3M	$12.7M	75x
Short	SunX PENGU-USDT	0.009029	0.0100	get 0.0050% / 4h	2h 20m	$3K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +2.637%Rate

Funding earned: $0
Price spread: +2.637% → +2.671%: −$3.39
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$23.39
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 3 min ago; SunX: live order book, 5 min ago. 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 Bitget live order book, 3 min ago	1.13 bp	11.2 bp −$11	25.0 bp −$250	96.2 bp −$9,617	doesn't fit
Sell SunX live order book, 5 min ago	251.63 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

PENGU on 33 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	0.008812	+0.171%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008813	+0.180%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.091%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0048%	4h	0.008799	+0.023%	$3.4M	$15.6M	75x	as long as short
Variational Omni PENGU	+0.0060%	4h	0.008804	+0.078%	$876K	$999K	—	as long as short
01 Exchange PENGUUSD	+0.0088%	1h	0.008812	+0.171%	$202	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008809	+0.136%	$311K	$707K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008810	+0.148%	$19K	$161K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008812	+0.171%	$593K	$990K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008800	+0.034%	$8.3M	$14.9M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008813	+0.181%	$143K	$509K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008810	+0.148%	$155K	$245K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008799	+0.024%	$37.6M	$157.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008788	−0.102%	$23.1M	$38.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008792	−0.057%	$7.5M	$47.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008810	+0.148%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008801	+0.045%	$12.0M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008806	+0.102%	$4.7M	$9.1M	75x	as long as short
Bitget PENGUUSDTlong	+0.0100%	4h	0.008797	long leg	$8.3M	$12.7M	75x
BingX PENGU-USDC	+0.0100%	4h	0.008789	−0.091%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008798	+0.011%	$301K	$300K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008820	+0.262%	$472K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008813	+0.182%	$80K	$249K	50x	as long as short
SunX PENGU-USDTshort	+0.0100%	4h	0.009029	+2.637%	$3K	$2.1M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.008811	+0.159%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008832	+0.398%	$94K	$337K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008807	+0.115%	$182K	$939K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008805	+0.091%	$203K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008817	+0.226%	$360K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008814	+0.189%	$298	—	10x	as long as short
dYdX PENGU-USD	+0.0296%	1h	0.008808	+0.126%	$12K	$4K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0513% / S −0.0708%	1h	0.008813	+0.182%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.932%	$95K	$94K	50x	as long as short