Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.028%

Price spread now: HTX against gTrade (Gains Network)+0.117%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 HTX

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and HTX is 0.117% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PENGU/USD	0.008736	L +0.0007% / S −0.0003%	pay 0.0001% / 1h	1m 08s	$32K	—	150x
Short	HTX PENGU-USDT	0.008746	0.0100	get 0.0050% / 4h	1h 01m	$91K	$360K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.117%Rate

Funding earned: $19.52
Price spread: +0.117% → 0.000%: $11.66
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: $9.19
Costs to cover: 0.220%
Break-even: 3.7 days

Slippage unknown: gTrade (Gains Network): no order-book sample; HTX: live order book, 61 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 HTX live order book, 61 min ago	14.73 bp	24.0 bp −$24	doesn't fit	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
01 Exchange PENGUUSD	−0.0032%	1h	0.008737	+0.014%	$200	$64	5x	as long as short
Gate PENGU_USDT	−0.0006%	4h	0.008735	−0.009%	$3.3M	$15.7M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008738	+0.025%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USDlong	L +0.0007% / S −0.0003%	1h	0.008736	long leg	$32K	—	150x
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.609%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008739	+0.037%	$311K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008737	+0.014%	$23K	$146K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008740	+0.048%	$8.1M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008736	−0.003%	$121K	$579K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008735	−0.009%	$154K	$243K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008744	+0.096%	$36.3M	$161.1M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008740	+0.048%	$23.1M	$38.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008735	−0.009%	$7.3M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	+0.048%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008738	+0.025%	$11.3M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008737	+0.014%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008739	+0.037%	$8.2M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008727	−0.101%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008737	+0.014%	$298K	$293K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008730	−0.070%	$867K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008734	−0.021%	$459K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008733	−0.032%	$80K	$242K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008732	−0.044%	$585K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008952	+2.475%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008734	−0.021%	$1K	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.008746	+0.117%	$91K	$360K	25x
Extended PENGU-USD	+0.0104%	1h	0.008731	−0.060%	$184K	$942K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008727	−0.101%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0228%	1h	0.008734	−0.019%	$12K	$5K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008732	−0.048%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008735	−0.009%	$1.5M	$3.5M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0439%	1h	0.008737	+0.014%	$128K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0651%	1h	0.008742	+0.069%	$343K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.646%	$95K	$90K	50x	as long as short