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: Bitget against Bybit+0.114%7-day average +0.098% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$480.478% of the position

Long on Bybit Short on Bitget

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−0.014%−$1 · spread now +0.114%, 7d avg +0.098%

Together, before fees+0.121%+$12 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PENGUUSDT	0.008779	0.0100	pay 0.0050% / 4h	3h 02m	$23.3M	$41.5M	75x
Short	Bitget PENGUUSDT	0.008789	0.0100	get 0.0050% / 4h	3h 02m	$8.5M	$13.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Bybit. 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 BybitbpFee BitgetbpOrdersPrice spread, now +0.114%Rate

Funding earned: $0
Price spread: +0.114% → +0.098%: $1.55
Slippage, 4 orders: −$24.82
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$46.28
Costs to cover: 0.478%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Bitget: live order book, 1 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 Bybit live order book, 1 min ago	0.57 bp	9.9 bp −$10	25.3 bp −$253	115.8 bp −$11.6K	doesn't fit
Sell Bitget live order book, 1 min ago	1.14 bp	14.2 bp −$14	28.9 bp −$289	95.8 bp −$9,582	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	0.008801	+0.251%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008784	+0.052%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0014%	4h	0.008780	+0.011%	$3.3M	$16.6M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.114%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0071%	1h	0.008784	+0.059%	$12K	$5K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008803	+0.273%	$320K	$754K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008792	+0.148%	$8.1M	$15.4M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008783	+0.048%	$119K	$661K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008788	+0.103%	$134K	$273K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008786	+0.077%	$37.2M	$174.2M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDTlong	+0.0100%	4h	0.008779	long leg	$23.3M	$41.5M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008785	+0.068%	$7.6M	$49.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008790	+0.125%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008784	+0.057%	$10.5M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008782	+0.034%	$4.9M	$9.5M	75x	as long as short
Bitget PENGUUSDTshort	+0.0100%	4h	0.008789	+0.114%	$8.5M	$13.1M	75x
BingX PENGU-USDT	+0.0100%	4h	0.008784	+0.057%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008791	+0.137%	$289K	$333K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008848	+0.785%	$923K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008839	+0.685%	$469K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008834	+0.626%	$80K	$251K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008779	+0.006%	$589K	$1.1M	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008800	+0.239%	$23K	$128K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009011	+2.643%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008795	+0.182%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008815	+0.410%	$91K	$378K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008780	+0.008%	$181K	$869K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008793	+0.159%	$203K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0120%	1h	0.008781	+0.023%	$201	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008787	+0.094%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008794	+0.171%	$1.5M	$4.1M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0497% / S −0.0415%	1h	0.008782	+0.034%	$125K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0622%	1h	0.008803	+0.273%	$322K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.008886	+1.219%	$94K	$59K	50x	as long as short