Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0355%/8h= −38.9% APRpaid last 24h −0.003%

Price spread now: Gate against gTrade (Gains Network)+0.173%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 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. Gate is 0.173% dearer against gTrade (Gains Network) than usual: you sell high and buy low (spread +0.173% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PENGU/USD	0.009012	L +0.0007% / S −0.0003%	pay 0.0001% / 1h	31m 44s	$33K	—	150x
Short	Gate PENGU_USDT	0.009028	−0.0348	pay 0.0174% / 4h	3h 31m	$3.7M	$17.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee GatebpOrdersPrice spread, now +0.173%Rate

Funding earned: −$74.56
Price spread: +0.173% → 0.000%: $17.34
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$82.21
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): no order-book sample; Gate: live order book, 2 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Gate live order book, 2 min ago	2.76 bp	17.3 bp −$17	53.6 bp −$536	doesn't fit	doesn't fit

gTrade (Gains Network): 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
Gate PENGU_USDTshort	−0.0348%	4h	0.009028	+0.173%	$3.7M	$17.9M	75x
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.009025	+0.140%	$1K	$29K	10x	as long as short
gTrade (Gains Network) PENGU/USDlong	L +0.0007% / S −0.0003%	1h	0.009012	long leg	$33K	—	150x
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.478%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009035	+0.251%	$329K	$756K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009021	+0.096%	$641K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009053	+0.451%	$9.3M	$16.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009031	+0.207%	$132K	$769K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009037	+0.273%	$137K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009030	+0.200%	$39.9M	$197.4M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDT	+0.0100%	4h	0.009026	+0.151%	$24.4M	$47.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009030	+0.196%	$8.2M	$57.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009040	+0.307%	$18K	$26K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009028	+0.173%	$11.5M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009029	+0.185%	$5.0M	$10.5M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009034	+0.240%	$8.8M	$15.2M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009032	+0.218%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009028	+0.173%	$313K	$388K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009099	+0.961%	$940K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009076	+0.706%	$473K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009132	+1.327%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009024	+0.129%	$23K	$328K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009232	+2.437%	$2K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009019	+0.074%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009040	+0.307%	$94K	$416K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009030	+0.197%	$188K	$744K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009055	+0.473%	$209K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009018	+0.064%	$305	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009051	+0.429%	$1.6M	$5.2M	75x	as long as short
01 Exchange PENGUUSD	+0.0352%	1h	0.009044	+0.351%	$207	$41	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0382%	1h	0.009026	+0.152%	$335K	$2.7M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0430% / S −0.0351%	1h	0.009011	−0.015%	$103K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2088%	1h	0.009211	+2.204%	$81K	$73K	50x	as long as short
dYdX PENGU-USD	+0.2291%	1h	0.009046	+0.376%	$21K	$18K	5x	as long as short