Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.002%

Price spread now: 01 Exchange against Bitget0.000%7-day average — · you sell dearer than you buy

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

Long on Bitget Short on 01 Exchange

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—needs 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: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENGUUSDT	0.008692	0.0100	pay 0.0050% / 4h	2h 10m	$8.2M	$12.5M	75x
Short	01 Exchange PENGUUSD	0.008692	0	get 0.0000% / 1h	10m 34s	$199	$59	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now 0.000%Rate

Funding earned: −$21
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$40
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 8 min ago; 01 Exchange: 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 Bitget live order book, 8 min ago	0.57 bp	12.3 bp −$12	21.7 bp −$217	61.1 bp −$6,109	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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	−0.0551%	1h	0.008687	−0.060%	$384K	$2.1M	50x	as long as short
Gate PENGU_USDT	−0.0260%	4h	0.008686	−0.069%	$3.4M	$15.4M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.265%	$3K	$81K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0096%	1h	0.008663	−0.334%	$19K	$9K	10x	as long as short
Backpack PENGU_USDC_PERP	−0.0046%	1h	0.008679	−0.150%	$310K	$314K	10x	as long as short
01 Exchange PENGUUSDshort	0.0000%	1h	0.008692	0.000%	$199	$59	5x
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008663	−0.339%	$33K	—	150x	as long as short
dYdX PENGU-USD	+0.0007%	1h	0.008688	−0.042%	$11K	$4K	5x	as long as short
Bybit PENGUUSDT	+0.0048%	4h	0.008679	−0.150%	$22.6M	$36.0M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008686	−0.069%	$298K	$723K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0100%	1h	0.008685	−0.081%	$674K	$757K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008691	−0.012%	$8.7M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008686	−0.074%	$172K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008684	−0.092%	$146K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008689	−0.037%	$35.9M	$151.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008686	−0.069%	$7.7M	$46.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008690	−0.023%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008685	−0.081%	$12.9M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008687	−0.058%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDTlong	+0.0100%	4h	0.008692	long leg	$8.2M	$12.5M	75x
BingX PENGU-USDT	+0.0100%	4h	0.008684	−0.092%	—	$3.9M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008675	−0.194%	$797K	$715K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008656	−0.411%	$453K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008681	−0.127%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008663	−0.334%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008871	+2.059%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008677	−0.173%	$994	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008676	−0.184%	$91K	$250K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008685	−0.081%	$178K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008675	−0.196%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008659	−0.383%	$292	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008670	−0.253%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0501% / S −0.0703%	1h	0.008663	−0.334%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008699	+0.081%	$93K	$97K	50x	as long as short