Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h +0.047%

Price spread now: HTX against Deribit+0.022%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 5 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 pays, funding is against you. HTX is 0.022% dearer against Deribit than usual: you sell high and buy low (spread +0.022% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit PENGU_USDC-PERPETUAL	0.009052	0.0192	pay 0.0024% / 1h	26m 55s	$1K	$29K	10x
Short	HTX PENGU-USDT	0.009054	0.0100	get 0.0050% / 4h	1h 26m	$93K	$404K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Deribit. 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 DeribitbpFee HTXbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$19.32
Price spread: +0.022% → 0.000%: $2.21
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$36.11
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; HTX: live order book, 16 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 Deribit no order-book sample	—	—	—	—	—
Sell HTX live order book, 16 min ago	19.25 bp	133.5 bp −$134	doesn't fit	doesn't fit	doesn't fit

Deribit: 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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009009	−0.475%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.905%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009057	+0.055%	$325K	$768K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009048	−0.044%	$637K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009059	+0.079%	$143K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009042	−0.110%	$136K	$276K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009058	+0.066%	$39.6M	$188.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009049	−0.033%	$24.0M	$44.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009056	+0.044%	$8.0M	$54.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009050	−0.022%	$18K	$25K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENGU_USDT	+0.0100%	4h	0.009045	−0.077%	$3.4M	$17.2M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009077	+0.276%	$11.1M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009073	+0.232%	$5.1M	$10.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009079	+0.298%	$8.7M	$13.9M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009044	−0.088%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009052	0.000%	$309K	$362K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009012	−0.443%	$918K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009024	−0.314%	$474K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009019	−0.365%	$79K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009050	−0.022%	$23K	$225K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009264	+2.342%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009050	−0.022%	$1K	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.009054	+0.022%	$93K	$404K	25x
Extended PENGU-USD	+0.0104%	1h	0.009073	+0.236%	$186K	$526K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009045	−0.077%	$209K	—	3x	as long as short
Deribit PENGU_USDC-PERPETUALlong	+0.0192%	1h	0.009052	long leg	$1K	$29K	10x
Reya PENGURUSDPERP	+0.0240%	1h	0.009011	−0.456%	$304	—	10x	as long as short
Hyperliquid PENGU	+0.0274%	1h	0.009060	+0.088%	$9.1M	$16.2M	5x	as long as short
01 Exchange PENGUUSD	+0.0336%	1h	0.009054	+0.022%	$207	$60	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009048	−0.044%	$1.6M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0443% / S −0.0368%	1h	0.009045	−0.077%	$107K	—	100x	as long as short
dYdX PENGU-USD	+0.0640%	1h	0.009038	−0.156%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0674%	1h	0.009056	+0.039%	$337K	$2.5M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009151	+1.094%	$81K	$69K	50x	as long as short