Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.020%

Price spread now: Bybit against HTX−0.145%7-day average −0.316% · you buy dearer than you sell

Net, funding: paid 7d − costs−$210as in the Funding arb table

Net, price: spread back to 7d avg − costs−$158as in the Price arb table

costs, in and out, $10k−$1751.753% of the position

Long on HTX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.351%−$35 on $10k

Price spread, last 4 days (all we have)−0.121%−$12 · spread now −0.145%, 7d avg −0.316%

Together, before fees−0.472%−$47 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.171% dearer against HTX than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of −0.316%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PENGU-USDT	0.008980	0.0100	pay 0.0050% / 4h	2h 15m	$93K	$392K	25x
Short	Bybit PENGUUSDT	0.008967	0.0100	get 0.0050% / 4h	2h 15m	$23.8M	$42.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against HTX. 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 HTXbpFee BybitbpOrdersPrice spread, now −0.145%Rate

Funding earned: $0
Price spread: −0.145% → −0.316%: $17.1
Slippage, 4 orders: −$152.35
Fee HTX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$158.25
Costs to cover: 1.753%
Break-even: never at this rate

Slippage from HTX: live order book, 33 min ago; Bybit: live order book, 4 min ago.

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 HTX live order book, 33 min ago	5.09 bp	11.1 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.56 bp	11.0 bp −$11	27.2 bp −$272	78.8 bp −$7,879	doesn't fit

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/USD	L +0.0007% / S −0.0003%	1h	0.008961	−0.214%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.127%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008970	−0.111%	$325K	$750K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008963	−0.184%	$609K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009004	+0.267%	$8.4M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008984	+0.039%	$123K	$684K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008972	−0.089%	$136K	$273K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008982	+0.028%	$38.0M	$179.7M	75x	as long as short
Bybit PENGUUSDTshort	+0.0100%	4h	0.008967	−0.145%	$23.8M	$42.4M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008967	−0.145%	$7.6M	$52.4M	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	0.008970	−0.111%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008988	+0.089%	$3.4M	$16.7M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009000	+0.223%	$10.7M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008993	+0.145%	$5.0M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008995	+0.167%	$8.6M	$13.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008990	+0.111%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008992	+0.134%	$294K	$344K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008940	−0.445%	$934K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008883	−1.084%	$466K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008867	−1.258%	$80K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008964	−0.178%	$23K	$178K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009176	+2.183%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008963	−0.189%	$1K	$5K	5x	as long as short
HTX PENGU-USDTlong	+0.0100%	4h	0.008980	long leg	$93K	$392K	25x
Extended PENGU-USD	+0.0104%	1h	0.008961	−0.216%	$185K	$876K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008955	−0.278%	$207K	—	3x	as long as short
dYdX PENGU-USD	+0.0194%	1h	0.008969	−0.117%	$12K	$6K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0196%	1h	0.008965	−0.167%	$14K	$15K	10x	as long as short
01 Exchange PENGUUSD	+0.0208%	1h	0.008968	−0.134%	$205	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008962	−0.198%	$303	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0315%	1h	0.008970	−0.110%	$336K	$2.5M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008970	−0.111%	$1.5M	$4.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0517% / S −0.0482%	1h	0.008958	−0.245%	$127K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.009053	+0.813%	$80K	$79K	50x	as long as short