Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0097%/8h= −10.6% APRpaid last 24h +0.006%

Price spread now: gTrade (Gains Network) against Gate+0.140%7-day average — · you sell dearer than you buy

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

Long on Gate Short on gTrade (Gains Network)

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

The price spread pays, funding is against you. gTrade (Gains Network) is 0.140% dearer against Gate than usual: you sell high and buy low (spread +0.140% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PENGU_USDT	0.009136	0.0100	pay 0.0050% / 4h	19m 30s	$3.7M	$18.0M	75x
Short	gTrade (Gains Network) PENGU/USD	0.009149	L +0.0007% / S −0.0003%	get 0.0000% / 1h	19m 30s	$34K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Gate. 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 GatebpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.140%Rate

Funding earned: −$20.38
Price spread: +0.140% → 0.000%: $14.01
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$31.37
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 4 min ago; gTrade (Gains Network): no order-book sample. 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 Gate live order book, 4 min ago	2.73 bp	14.4 bp −$14	44.5 bp −$445	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

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
gTrade (Gains Network) PENGU/USDshort	L +0.0007% / S −0.0003%	1h	0.009149	+0.140%	$34K	—	150x
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.798%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0079%	1h	0.009123	−0.142%	$1K	$29K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.009137	+0.011%	$330K	$773K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009157	+0.230%	$645K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009165	+0.317%	$147K	$718K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009134	−0.022%	$138K	$267K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009162	+0.285%	$40.4M	$194.1M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009146	+0.109%	$24.6M	$45.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009150	+0.153%	$8.2M	$57.1M	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	0.009150	+0.153%	$18K	$25K	5x	as long as short
Gate PENGU_USDTlong	+0.0100%	4h	0.009136	long leg	$3.7M	$18.0M	75x
MEXC PENGU_USDT	+0.0100%	4h	0.009153	+0.186%	$11.3M	$13.1M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009154	+0.197%	$5.1M	$10.4M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009159	+0.252%	$9.0M	$14.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009142	+0.066%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009125	−0.120%	$316K	$382K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009113	−0.253%	$907K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009124	−0.128%	$478K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009182	+0.504%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009120	−0.175%	$23K	$292K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009338	+2.211%	$2K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009126	−0.109%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009132	−0.044%	$94K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009140	+0.045%	$187K	$744K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009120	−0.175%	$211K	—	3x	as long as short
Hyperliquid PENGU	+0.0189%	1h	0.009166	+0.328%	$9.3M	$16.6M	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009148	+0.134%	$309	—	10x	as long as short
01 Exchange PENGUUSD	+0.0328%	1h	0.009169	+0.361%	$210	$41	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009141	+0.055%	$1.6M	$5.0M	75x	as long as short
dYdX PENGU-USD	+0.0380%	1h	0.009134	−0.018%	$12K	$6K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0434% / S −0.0352%	1h	0.009125	−0.120%	$104K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0535%	1h	0.009133	−0.033%	$353K	$2.6M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1928%	1h	0.009196	+0.657%	$81K	$74K	50x	as long as short