Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Binance against Extended+0.059%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$400.396% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now +0.059%, 7d avg +0.041%

Together, before fees0.000%+ Points / potential airdropExtended: Active · farm board$0 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENGU-USD	0.009132	0.0104	pay 0.0013% / 1h	47m 53s	$187K	$739K	10x
Short	Binance PENGUUSDT	0.009138	0.0100	get 0.0050% / 4h	3h 47m	$40.3M	$196.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Extended. 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 ExtendedbpFee BinancebpOrdersPrice spread, now +0.059%Rate

Funding earned: −$0.84
Price spread: +0.059% → +0.041%: $1.77
Slippage, 4 orders: −$24.56
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$38.64
Costs to cover: 0.396%
Break-even: never at this rate

Slippage from Extended: live order book, 50 min ago; Binance: live order book, 10 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 Extended live order book, 50 min ago	0.55 bp	9.2 bp −$9	81.6 bp −$816	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	0.55 bp	10.2 bp −$10	17.0 bp −$170	67.9 bp −$6,791	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009137	+0.049%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.761%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009138	+0.061%	$329K	$747K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009135	+0.028%	$649K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009143	+0.115%	$9.3M	$16.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009137	+0.055%	$144K	$753K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009113	−0.213%	$138K	$274K	5x	as long as short
Binance PENGUUSDTshort	+0.0100%	4h	0.009138	+0.059%	$40.3M	$196.6M	75x
Bybit PENGUUSDT	+0.0100%	4h	0.009129	−0.038%	$24.7M	$46.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009133	+0.006%	$8.2M	$58.1M	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	0.009130	−0.027%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009125	−0.082%	$3.8M	$17.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009135	+0.028%	$11.6M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009131	−0.016%	$5.1M	$10.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009143	+0.115%	$8.9M	$15.1M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009133	+0.006%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009127	−0.060%	$313K	$388K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009133	+0.006%	$941K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009124	−0.087%	$483K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009121	−0.126%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009137	+0.050%	$24K	$321K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009336	+2.229%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009130	−0.027%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009142	+0.104%	$95K	$414K	25x	as long as short
Extended PENGU-USDlong	+0.0104%	1h	0.009132	long leg	$187K	$739K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.009128	−0.049%	$211K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009132	−0.008%	$308	—	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0297%	1h	0.009142	+0.104%	$1K	$29K	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009155	+0.247%	$1.6M	$5.2M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0378%	1h	0.009133	+0.010%	$351K	$2.6M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0433% / S −0.0351%	1h	0.009135	+0.028%	$104K	—	100x	as long as short
01 Exchange PENGUUSD	+0.0448%	1h	0.009141	+0.093%	$209	$41	5x	as long as short
dYdX PENGU-USD	+0.0548%	1h	0.009111	−0.230%	$12K	$6K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2088%	1h	0.009211	+0.860%	$81K	$74K	50x	as long as short