Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0195%/8h= −21.3% APRpaid last 24h −0.307%

Price spread now: HTX against dYdX+0.403%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 6 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 0.403% dearer against dYdX than usual: you sell high and buy low (spread +0.403% now, against zero (this spread has no 7-day history yet)): +$40 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 6.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX PENGU-USD	0.009079	0.0295	pay 0.0037% / 1h	4m 32s	$12K	$6K	5x
Short	HTX PENGU-USDT	0.009116	0.0100	get 0.0050% / 4h	2h 04m	$94K	$401K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against dYdX. 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 dYdXbpFee HTXbpOrdersPrice spread, now +0.403%Rate

Funding earned: −$40.87
Price spread: +0.403% → 0.000%: $40.35
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$22.52
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: dYdX: no order-book sample; HTX: live order book, 44 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 dYdX no order-book sample	—	—	—	—	—
Sell HTX live order book, 44 min ago	5.09 bp	142.2 bp −$142	doesn't fit	doesn't fit	doesn't fit

dYdX: 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	0.009097	+0.189%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.198%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009095	+0.172%	$334K	$759K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009092	+0.139%	$639K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009103	+0.260%	$9.4M	$15.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009093	+0.147%	$121K	$691K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009082	+0.029%	$139K	$285K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009099	+0.211%	$39.7M	$183.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009081	+0.018%	$24.1M	$43.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009082	+0.029%	$8.0M	$53.9M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.009100	+0.227%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009085	+0.062%	$3.4M	$17.0M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009080	+0.007%	$11.0M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009087	+0.084%	$5.3M	$9.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009096	+0.183%	$8.7M	$13.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009085	+0.062%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009110	+0.337%	$298K	$359K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009068	−0.126%	$924K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009091	+0.125%	$481K	$2.2M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009100	+0.227%	$82K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009097	+0.194%	$23K	$188K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009322	+2.672%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009104	+0.271%	$1K	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.009116	+0.403%	$94K	$401K	25x
Extended PENGU-USD	+0.0104%	1h	0.009090	+0.122%	$187K	$841K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009101	+0.238%	$210K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009091	+0.125%	$307	—	10x	as long as short
01 Exchange PENGUUSD	+0.0272%	1h	0.009108	+0.315%	$208	$64	5x	as long as short
dYdX PENGU-USDlong	+0.0295%	1h	0.009079	long leg	$12K	$6K	5x
Deribit PENGU_USDC-PERPETUAL	+0.0300%	1h	0.009102	+0.249%	$1K	$29K	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0310%	1h	0.009116	+0.409%	$340K	$2.5M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009105	+0.282%	$1.5M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0390% / S −0.0291%	1h	0.009097	+0.194%	$92K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.009185	+1.163%	$81K	$80K	50x	as long as short