Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0530%/8h= +58.0% APRpaid last 24h +0.055%

Price spread now: Reya against Gate+0.018%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 Reya

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$16 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PENGU_USDT	0.008744	−0.0292	get 0.0146% / 4h	22m 24s	$3.4M	$15.6M	75x
Short	Reya PENGURUSDPERP	0.008746	0.0238	get 0.0030% / 1h	22m 24s	$295	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.018%Rate

Funding earned: $111.23
Price spread: +0.018% → 0.000%: $1.79
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Reya: 3 bp × 2 orders: −$6
Net: $92.02
Costs to cover: 0.210%
Break-even: 1.2 days

Slippage unknown: Gate: live order book, 1 min ago; Reya: 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, 1 min ago	2.87 bp	14.7 bp −$15	42.3 bp −$423	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
Kraken Futures PF_PENGUUSD	−0.0342%	1h	0.008743	−0.014%	$368K	$2.3M	50x	as long as short
Gate PENGU_USDTlong	−0.0292%	4h	0.008744	long leg	$3.4M	$15.6M	75x
Bybit PENGUUSDT	−0.0290%	4h	0.008744	0.000%	$22.7M	$36.8M	75x	as long as short
01 Exchange PENGUUSD	−0.0240%	1h	0.008743	−0.011%	$200	$59	5x	as long as short
Variational Omni PENGU	−0.0238%	4h	0.008725	−0.212%	$797K	$802K	—	as long as short
Backpack PENGU_USDC_PERP	−0.0179%	1h	0.008734	−0.114%	$311K	$313K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.515%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0093%	1h	0.008752	+0.091%	$19K	$9K	10x	as long as short
Nado PENGU-PERP	+0.0001%	1h	0.008748	+0.046%	$695K	$776K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008753	+0.100%	$33K	—	150x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENGU-USD	+0.0024%	1h	0.008736	−0.089%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0094%	4h	0.008747	+0.032%	$458K	$2.1M	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008735	−0.103%	$306K	$741K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008751	+0.080%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008750	+0.069%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008752	+0.088%	$188K	$470K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008736	−0.091%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008749	+0.057%	$36.3M	$154.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008749	+0.057%	$7.5M	$47.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	−0.046%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008735	−0.103%	$12.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008750	+0.069%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008753	+0.103%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008738	−0.069%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008734	−0.114%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008942	+2.264%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008735	−0.103%	$993	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008740	−0.046%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008741	−0.034%	$180K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008745	+0.011%	$202K	$17K	3x	as long as short
Reya PENGURUSDPERPshort	+0.0238%	1h	0.008746	+0.018%	$295	—	10x
BloFin PENGU-USDT	+0.0340%	4h	0.008741	−0.034%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008753	+0.103%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008724	−0.229%	$93K	$103K	50x	as long as short