Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against OKX+0.497%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3as in the Price arb table

costs, in and out, $10k−$480.475% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 4 days (all we have)−0.401%−$40 · spread now +0.497%, 7d avg +0.052%

Together, before fees−0.357%−$36 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: ApeX Omni is 0.445% dearer against OKX than usual: you sell high and buy low, +$45 on $10k if it goes back to its 7-day average of +0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PENGU-USDT-SWAP	0.009056	0.0100	pay 0.0050% / 4h	2h 02m	$8.0M	$53.8M	50x
Short	ApeX Omni PENGUUSDT	0.009101	0.0100	get 0.0013% / 1h	2m 49s	$82K	$250K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now +0.497%Rate

Funding earned: $0
Price spread: +0.497% → +0.052%: $44.53
Slippage, 4 orders: −$27.51
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$2.99
Costs to cover: 0.475%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; ApeX Omni: live order book, 44 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 OKX live order book, 1 min ago	0.55 bp	11.0 bp −$11	29.5 bp −$295	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 44 min ago	5.11 bp	13.1 bp −$13	105.1 bp −$1,051	doesn't fit	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	0.009066	+0.111%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.948%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009083	+0.298%	$334K	$759K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009076	+0.221%	$9.3M	$15.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009063	+0.079%	$120K	$691K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009073	+0.188%	$139K	$285K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009059	+0.029%	$39.6M	$184.4M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009050	−0.066%	$24.0M	$43.2M	75x	as long as short
OKX PENGU-USDT-SWAPlong	+0.0100%	4h	0.009056	long leg	$8.0M	$53.8M	50x
Arcus PENGU-USD	+0.0100%	1h	0.009080	+0.265%	$18K	$26K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENGU_USDT	+0.0100%	4h	0.009058	+0.022%	$3.4M	$17.0M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009064	+0.088%	$11.0M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009064	+0.088%	$5.2M	$9.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009066	+0.110%	$8.6M	$13.8M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009059	+0.033%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009070	+0.155%	$300K	$364K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009068	+0.132%	$924K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009091	+0.383%	$481K	$2.2M	10x	as long as short
ApeX Omni PENGUUSDTshort	+0.0100%	1h	0.009101	+0.497%	$82K	$250K	50x
Nado PENGU-PERP	+0.0100%	1h	0.009076	+0.221%	$638K	$1.1M	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009070	+0.155%	$23K	$188K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009282	+2.496%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009070	+0.155%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009086	+0.331%	$94K	$401K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009060	+0.042%	$187K	$841K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009067	+0.121%	$209K	—	3x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0191%	1h	0.009071	+0.166%	$1K	$29K	10x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009068	+0.132%	$306	—	10x	as long as short
01 Exchange PENGUUSD	+0.0280%	1h	0.009082	+0.287%	$208	$64	5x	as long as short
dYdX PENGU-USD	+0.0289%	1h	0.009071	+0.161%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0311%	1h	0.009085	+0.315%	$339K	$2.5M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009077	+0.232%	$1.5M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0390% / S −0.0291%	1h	0.009063	+0.077%	$92K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.009185	+1.424%	$81K	$80K	50x	as long as short