Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.028%

Price spread now: SunX against gTrade (Gains Network)+2.420%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 SunX

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 SunX is 2.420% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$242 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	0.008775	L +0.0007% / S −0.0003%	pay 0.0001% / 1h	17m 04s	$32K	—	150x
Short	SunX PENGU-USDT	0.008987	0.0100	get 0.0050% / 4h	2h 17m	$2K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +2.420%Rate

Funding earned: $19.52
Price spread: +2.420% → 0.000%: $242.03
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: $243.55
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: gTrade (Gains Network): no order-book sample; SunX: live order book, 9 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 SunX live order book, 9 min ago	251.63 bp	doesn't fit	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 33 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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008774	−0.007%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USDlong	L +0.0007% / S −0.0003%	1h	0.008775	long leg	$32K	—	150x
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.164%	$3K	$117K	5.5x	as long as short
Variational Omni PENGU	+0.0060%	4h	0.008804	+0.333%	$876K	$999K	—	as long as short
Gate PENGU_USDT	+0.0074%	4h	0.008774	−0.007%	$3.4M	$15.6M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008786	+0.130%	$310K	$707K	8x	as long as short
01 Exchange PENGUUSD	+0.0096%	1h	0.008771	−0.041%	$201	$64	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008774	−0.007%	$19K	$161K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008770	−0.053%	$591K	$993K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008783	+0.095%	$8.2M	$14.9M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008776	+0.016%	$142K	$511K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008778	+0.038%	$154K	$245K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008778	+0.042%	$37.5M	$157.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008772	−0.030%	$23.0M	$38.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008777	+0.027%	$7.5M	$47.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008770	−0.053%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008780	+0.061%	$11.9M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008777	+0.027%	$4.7M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008780	+0.061%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008775	+0.004%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008774	−0.007%	$301K	$300K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008807	+0.364%	$462K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008803	+0.323%	$80K	$249K	50x	as long as short
SunX PENGU-USDTshort	+0.0100%	4h	0.008987	+2.420%	$2K	$2.1M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.008776	+0.016%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008793	+0.209%	$94K	$337K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008772	−0.028%	$184K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008767	−0.087%	$203K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008786	+0.133%	$361K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008769	−0.069%	$296	—	10x	as long as short
dYdX PENGU-USD	+0.0308%	1h	0.008773	−0.016%	$12K	$4K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0708%	1h	0.008773	−0.019%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+2.192%	$95K	$94K	50x	as long as short