Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0138%/8h= +15.2% APRpaid last 24h +0.040%

Price spread now: Reya against OKX−0.010%7-day average — · you buy dearer than you sell

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

Long on OKX 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: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PENGU-USDT-SWAP	0.008798	0.0100	pay 0.0050% / 4h	2h 15m	$7.5M	$47.6M	50x
Short	Reya PENGURUSDPERP	0.008797	0.0238	get 0.0030% / 1h	15m 23s	$297	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.010%Rate

Funding earned: $29.06
Price spread: −0.010% → 0.000%: −$1.01
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $12.05
Costs to cover: 0.160%
Break-even: 4.1 days

Slippage unknown: OKX: live order book, 3 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 OKX live order book, 3 min ago	0.57 bp	10.3 bp −$10	29.0 bp −$290	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 33 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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008799	+0.011%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008800	+0.022%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.102%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0086%	4h	0.008795	−0.034%	$3.4M	$15.6M	75x	as long as short
Variational Omni PENGU	+0.0090%	4h	0.008784	−0.161%	$874K	$999K	—	as long as short
Lighter PENGU	+0.0096%	1h	0.008800	+0.023%	$311K	$707K	8x	as long as short
01 Exchange PENGUUSD	+0.0096%	1h	0.008801	+0.034%	$201	$64	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008799	+0.011%	$19K	$161K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008798	0.000%	$593K	$993K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008800	+0.023%	$8.3M	$14.9M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008797	−0.012%	$142K	$511K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008795	−0.034%	$155K	$245K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008800	+0.023%	$37.5M	$157.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008796	−0.023%	$23.1M	$38.4M	75x	as long as short
OKX PENGU-USDT-SWAPlong	+0.0100%	4h	0.008798	long leg	$7.5M	$47.6M	50x
Arcus PENGU-USD	+0.0100%	1h	0.008800	+0.023%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008799	+0.011%	$11.9M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008793	−0.057%	$4.7M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008801	+0.034%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008798	0.000%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008793	−0.057%	$301K	$300K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008807	+0.098%	$462K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008803	+0.057%	$80K	$249K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009009	+2.398%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008800	+0.023%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008809	+0.125%	$94K	$337K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008797	−0.010%	$184K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008793	−0.057%	$203K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008808	+0.113%	$362K	$2.3M	50x	as long as short
Reya PENGURUSDPERPshort	+0.0238%	1h	0.008797	−0.010%	$297	—	10x
dYdX PENGU-USD	+0.0317%	1h	0.008794	−0.049%	$12K	$4K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0512% / S −0.0708%	1h	0.008800	+0.023%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.921%	$95K	$94K	50x	as long as short