Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against OKX−0.137%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$590.593% of the position

Long on OKX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 7 days+0.010%+$1 · spread now −0.137%, 7d avg −0.084%

Together, before fees+0.074%+$7 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: BingX is 0.054% cheaper against OKX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PENGU-USDT-SWAP	0.008733	0.0100	pay 0.0050% / 4h	21m 44s	$7.5M	$46.9M	50x
Short	BingX PENGU-USDC	0.008721	0.0100	get 0.0050% / 4h	21m 44s	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.137%Rate

Funding earned: $0
Price spread: −0.137% → −0.084%: −$5.38
Slippage, 4 orders: −$39.3
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$64.68
Costs to cover: 0.593%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; BingX: live order book, 11 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, 2 min ago	0.57 bp	10.2 bp −$10	27.4 bp −$274	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	1.72 bp	21.0 bp −$21	57.4 bp −$574	384.3 bp −$38.4K	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
Kraken Futures PF_PENGUUSD	−0.0342%	1h	0.008754	+0.236%	$368K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0300%	4h	0.008731	−0.023%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0290%	4h	0.008729	−0.046%	$22.7M	$36.8M	75x	as long as short
01 Exchange PENGUUSD	−0.0248%	1h	0.008731	−0.023%	$200	$59	5x	as long as short
Variational Omni PENGU	−0.0238%	4h	0.008725	−0.086%	$797K	$802K	—	as long as short
Backpack PENGU_USDC_PERP	−0.0171%	1h	0.008746	+0.149%	$312K	$313K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.641%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0093%	1h	0.008752	+0.218%	$19K	$9K	10x	as long as short
Nado PENGU-PERP	+0.0001%	1h	0.008748	+0.172%	$695K	$776K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008753	+0.226%	$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	+0.153%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0094%	4h	0.008747	+0.158%	$458K	$2.1M	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008737	+0.046%	$306K	$741K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008751	+0.206%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008741	+0.092%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008750	+0.193%	$188K	$470K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008737	+0.046%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008735	+0.026%	$36.2M	$154.9M	75x	as long as short
OKX PENGU-USDT-SWAPlong	+0.0100%	4h	0.008733	long leg	$7.5M	$46.9M	50x
Arcus PENGU-USD	+0.0100%	1h	0.008740	+0.080%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008737	+0.046%	$12.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008738	+0.057%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008741	+0.092%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDCshort	+0.0100%	4h	0.008721	−0.137%	—	$2.3M	—
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008734	+0.011%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008958	+2.576%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008743	+0.115%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008744	+0.126%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008730	−0.030%	$180K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008745	+0.137%	$202K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008746	+0.144%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008741	+0.092%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008753	+0.229%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008724	−0.103%	$93K	$103K	50x	as long as short