PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0240%/8h= −26.3% APRnext payment −$1.20 per $10,000 · paid last 24h −0.072%

Price spread now: BingX against BloFin−0.159%81s7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$360.358% of the position

Long on BloFin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.469%−$47 on $10k

Price spread, last 4 days (all we have)+0.044%+$4 · spread now −0.159%, 7d avg −0.013%

Together, before fees−0.425%−$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and BingX is 0.146% cheaper against BloFin than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.013%). Swap the legs. The two prices were read 81 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENGU-USDT	0.008815	0.0340	pay 0.0170% / 4h	19m 56s	$1.5M	$3.7M	75x
Short	BingX PENGU-USDT	0.008801	0.0100	get 0.0050% / 4h	19m 56s	—	$3.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against BloFin. 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 BloFinbpFee BingXbpOrdersPrice spread, now −0.159%Rate

Funding earned: −$50.4
Price spread: −0.159% → −0.013%: −$14.63
Slippage, 4 orders: −$13.83
Fee BloFin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$100.86
Costs to cover: 0.358%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; BingX: live order book, 14 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 BloFin live order book, 3 min ago	2.84 bp	9.3 bp −$9	15.6 bp −$156	42.5 bp −$4,249	doesn't fit
Sell BingX live order book, 14 min ago	0.57 bp	8.8 bp −$9	15.1 bp −$151	53.7 bp −$5,367	279.9 bp −$140.0K

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	0.008798	−0.193%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008798	−0.196%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.295%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0080%	4h	0.008801	−0.159%	$3.3M	$15.7M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008802	−0.147%	$313K	$719K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008796	−0.216%	$23K	$116K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008794	−0.233%	$590K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008801	−0.159%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008798	−0.198%	$118K	$589K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008802	−0.147%	$155K	$241K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008803	−0.136%	$36.8M	$163.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008797	−0.204%	$23.3M	$39.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008798	−0.193%	$7.4M	$47.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	−0.170%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008802	−0.147%	$10.8M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008798	−0.193%	$4.9M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008800	−0.170%	$8.3M	$12.3M	75x	as long as short
BingX PENGU-USDTshort	+0.0100%	4h	0.008801	−0.159%	—	$3.5M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008794	−0.238%	$292K	$314K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008803	−0.138%	$914K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008819	+0.043%	$460K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008843	+0.318%	$80K	$242K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009013	+2.246%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008798	−0.193%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008813	−0.023%	$92K	$372K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008802	−0.143%	$185K	$941K	10x	as long as short
01 Exchange PENGUUSD	+0.0104%	1h	0.008800	−0.170%	$201	$64	5x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008789	−0.295%	$203K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008792	−0.262%	$297	—	10x	as long as short
BloFin PENGU-USDTlong	+0.0340%	4h	0.008815	long leg	$1.5M	$3.7M	75x
Kraken Futures PF_PENGUUSD	+0.0364%	1h	0.008805	−0.112%	$344K	$2.3M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0498% / S −0.0492%	1h	0.008799	−0.182%	$119K	—	100x	as long as short
dYdX PENGU-USD	+0.0498%	1h	0.008804	−0.122%	$12K	$5K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008950	+1.531%	$96K	$62K	50x	as long as short