Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0139%/8h= −15.2% APRpaid last 24h −0.040%

Price spread now: SunX against Reya+2.429%7-day average — · you sell dearer than you buy

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

Long on Reya Short on SunX

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 pays, funding is against you. SunX is 2.429% dearer against Reya than usual: you sell high and buy low (spread +2.429% now, against zero (this spread has no 7-day history yet)): +$243 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 58 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PENGURUSDPERP	0.008758	0.0239	pay 0.0030% / 1h	37m 58s	$296	—	10x
Short	SunX PENGU-USDT	0.008971	0.0100	get 0.0050% / 4h	37m 58s	$3K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Reya. 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 ReyabpFee SunXbpOrdersPrice spread, now +2.429%Rate

Funding earned: −$29.17
Price spread: +2.429% → 0.000%: $242.94
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee SunX: 4 bp × 2 orders: −$8
Net: $199.76
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; SunX: live order book, 8 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 Reya no order-book sample	—	—	—	—	—
Sell SunX live order book, 8 min ago	250.17 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

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 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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008755	−0.037%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008754	−0.050%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.351%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0040%	1h	0.008752	−0.071%	$200	$64	5x	as long as short
Gate PENGU_USDT	+0.0044%	4h	0.008746	−0.140%	$3.3M	$15.6M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008751	−0.083%	$311K	$717K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008755	−0.037%	$23K	$125K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008758	−0.005%	$588K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008749	−0.105%	$8.1M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008751	−0.088%	$121K	$579K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008731	−0.311%	$154K	$241K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008756	−0.029%	$36.6M	$162.0M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008754	−0.048%	$23.1M	$39.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008751	−0.083%	$7.3M	$46.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	−0.208%	$19K	$23K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008753	−0.060%	$10.9M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008752	−0.071%	$4.8M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008752	−0.071%	$8.2M	$12.3M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008747	−0.128%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008750	−0.094%	$291K	$315K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008724	−0.392%	$866K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008741	−0.201%	$455K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008734	−0.277%	$80K	$242K	50x	as long as short
SunX PENGU-USDTshort	+0.0100%	4h	0.008971	+2.429%	$3K	$2.0M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.008751	−0.083%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008771	+0.146%	$91K	$372K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008749	−0.108%	$180K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008748	−0.117%	$202K	—	3x	as long as short
Reya PENGURUSDPERPlong	+0.0239%	1h	0.008758	long leg	$296	—	10x
BloFin PENGU-USDT	+0.0340%	4h	0.008723	−0.402%	$1.5M	$3.5M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0366%	1h	0.008756	−0.021%	$344K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0417%	1h	0.008729	−0.339%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0419%	1h	0.008752	−0.071%	$124K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008732	−0.299%	$93K	$60K	50x	as long as short