Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0348%/8h= −38.1% APRpaid last 24h +0.001%

Price spread now: 01 Exchange against HTX−0.229%7-day average — · you buy dearer than you sell

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

Long on HTX Short on 01 Exchange

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 against this trade now: funding costs −$10 a day on $10k at the current rate, and 01 Exchange is 0.229% cheaper against HTX than usual: you would sell low and buy high (−$23 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PENGU-USDT	0.008751	0.0100	pay 0.0050% / 4h	21m 17s	$91K	$249K	25x
Short	01 Exchange PENGUUSD	0.008731	−0.0248	pay 0.0031% / 1h	21m 17s	$200	$59	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.229%Rate

Funding earned: −$73.08
Price spread: −0.229% → 0.000%: −$22.85
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$114.93
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 55 min ago; 01 Exchange: 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 HTX live order book, 55 min ago	13.61 bp	19.6 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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	−0.0343%	1h	0.008734	−0.199%	$367K	$2.3M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0323%	1h	0.008726	−0.286%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0300%	4h	0.008729	−0.251%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0299%	4h	0.008719	−0.366%	$22.6M	$36.8M	75x	as long as short
Variational Omni PENGU	−0.0261%	4h	0.008723	−0.316%	$768K	$832K	—	as long as short
01 Exchange PENGUUSDshort	−0.0248%	1h	0.008731	−0.229%	$200	$59	5x
Backpack PENGU_USDC_PERP	−0.0171%	1h	0.008746	−0.057%	$312K	$313K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.434%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	+0.0001%	1h	0.008729	−0.251%	$694K	$776K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008732	−0.217%	$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	0.008746	−0.053%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0090%	4h	0.008735	−0.181%	$457K	$2.1M	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008737	−0.160%	$306K	$741K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008727	−0.274%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008731	−0.229%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008739	−0.136%	$188K	$470K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008737	−0.160%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008725	−0.296%	$36.1M	$154.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008723	−0.320%	$7.5M	$46.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	−0.126%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008731	−0.229%	$12.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008737	−0.160%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008731	−0.229%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008728	−0.263%	—	$3.9M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008731	−0.229%	$79K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008943	+2.194%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008723	−0.320%	$998	$5K	5x	as long as short
HTX PENGU-USDTlong	+0.0100%	4h	0.008751	long leg	$91K	$249K	25x
Extended PENGU-USD	+0.0104%	1h	0.008721	−0.338%	$180K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008725	−0.297%	$202K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008729	−0.257%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008728	−0.263%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008732	−0.217%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008768	+0.194%	$93K	$103K	50x	as long as short