Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bitget against Extended+0.086%7-day average +0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$480.477% of the position

Long on Extended Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 4 days (all we have)+0.057%+$6 · spread now +0.086%, 7d avg +0.093%

Together, before fees+0.075%+ Points / potential airdropExtended: Active · farm board+$8 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	0.008809	0.0104	pay 0.0013% / 1h	49m 06s	$182K	$622K	10x
Short	Bitget PENGUUSDT	0.008817	0.0100	get 0.0050% / 4h	49m 06s	$8.4M	$12.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.086%Rate

Funding earned: −$0.84
Price spread: +0.086% → +0.093%: −$0.7
Slippage, 4 orders: −$30.72
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$49.26
Costs to cover: 0.477%
Break-even: never at this rate

Slippage from Extended: live order book, 29 min ago; Bitget: live order book, 4 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, 29 min ago	1.71 bp	10.9 bp −$11	64.6 bp −$646	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	1.70 bp	13.2 bp −$13	22.7 bp −$227	71.2 bp −$7,125	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
Kraken Futures PF_PENGUUSD	−0.0339%	1h	0.008823	+0.156%	$371K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0250%	4h	0.008814	+0.052%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0226%	4h	0.008817	+0.086%	$22.9M	$36.5M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0204%	1h	0.008813	+0.041%	$19K	$9K	10x	as long as short
Variational Omni PENGU	−0.0156%	4h	0.008825	+0.181%	$804K	$802K	—	as long as short
01 Exchange PENGUUSD	−0.0120%	1h	0.008816	+0.075%	$202	$59	5x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	−0.232%	$3K	$117K	5.5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008821	+0.126%	$34K	—	150x	as long as short
dYdX PENGU-USD	+0.0037%	1h	0.008826	+0.187%	$12K	$4K	5x	as long as short
Nado PENGU-PERP	+0.0072%	1h	0.008821	+0.137%	$689K	$762K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENGU	+0.0096%	1h	0.008818	+0.097%	$308K	$740K	8x	as long as short
Backpack PENGU_USDC_PERP	+0.0098%	1h	0.008814	+0.052%	$314K	$308K	10x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008812	+0.029%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008817	+0.086%	$8.5M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008820	+0.122%	$191K	$467K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008823	+0.154%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008818	+0.097%	$36.6M	$153.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008822	+0.143%	$7.6M	$47.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008820	+0.120%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008812	+0.029%	$12.6M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008817	+0.086%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDTshort	+0.0100%	4h	0.008817	+0.086%	$8.4M	$12.6M	75x
BingX PENGU-USDC	+0.0100%	4h	0.008805	−0.050%	—	$2.3M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008826	+0.185%	$462K	$2.2M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008833	+0.268%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009032	+2.527%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008811	+0.018%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008841	+0.359%	$92K	$250K	25x	as long as short
Extended PENGU-USDlong	+0.0104%	1h	0.008809	long leg	$182K	$622K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008815	+0.063%	$204K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008814	+0.046%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008810	+0.007%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0711%	1h	0.008820	+0.120%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008850	+0.461%	$94K	$104K	50x	as long as short