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: Variational Omni against OKX+0.067%7-day average −0.021% · you sell dearer than you buy

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

Long on OKX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.015%−$1 on $10k

Price spread, last 3 days (all we have)+0.200%+$20 · spread now +0.067%, 7d avg −0.021%

Together, before fees+0.185%+ Points / potential airdropVariational Omni: Active · farm board+$18 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: Variational Omni is 0.088% dearer against OKX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PENGU-USDT-SWAP	0.008641	0.0100	pay 0.0050% / 4h	2h 06m	$7.6M	$46.2M	50x
Short	Variational Omni PENGU	0.008647	0.0100	get 0.0050% / 4h	2h 06m	$799K	$726K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational 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 Variational OmnibpOrdersPrice spread, now +0.067%Rate

Funding earned: $0
Price spread: +0.067% → −0.021%: $8.84
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$1.16
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 2 min ago; Variational Omni: RFQ quote, 18 min ago. 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, 2 min ago	0.58 bp	13.6 bp −$14	34.5 bp −$345	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 18 min ago	4.03 bp	doesn't fit	28.2 bp −$282	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
Kraken Futures PF_PENGUUSD	−0.0553%	1h	0.008652	+0.126%	$383K	$2.1M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0444%	1h	0.008645	+0.046%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0296%	4h	0.008638	−0.035%	$3.4M	$15.4M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.856%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0067%	1h	0.008648	+0.081%	$308K	$314K	10x	as long as short
Bybit PENGUUSDT	−0.0009%	4h	0.008639	−0.023%	$22.5M	$36.0M	75x	as long as short
01 Exchange PENGUUSD	−0.0008%	1h	0.008641	0.000%	$198	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008647	+0.069%	$33K	—	150x	as long as short
dYdX PENGU-USD	+0.0014%	1h	0.008658	+0.192%	$11K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008646	+0.058%	$295K	$725K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008646	+0.058%	$8.6M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008651	+0.111%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008644	+0.035%	$146K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008645	+0.046%	$35.7M	$151.2M	75x	as long as short
OKX PENGU-USDT-SWAPlong	+0.0100%	4h	0.008641	long leg	$7.6M	$46.2M	50x
Arcus PENGU-USD	+0.0100%	1h	0.008640	−0.012%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008643	+0.023%	$12.8M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008644	+0.035%	$4.7M	$8.8M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008648	+0.081%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008636	−0.058%	—	$2.3M	—	as long as short
Variational Omni PENGUshort	+0.0100%	4h	0.008647	+0.067%	$799K	$726K	—
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008663	+0.258%	$453K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008672	+0.359%	$79K	$253K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008642	+0.012%	$671K	$758K	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008645	+0.046%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008851	+2.430%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008643	+0.023%	$986	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008666	+0.289%	$90K	$250K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008640	−0.007%	$178K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008645	+0.046%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008641	+0.003%	$292	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008648	+0.081%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0501% / S −0.0703%	1h	0.008647	+0.069%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008699	+0.671%	$93K	$97K	50x	as long as short