Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.072%

Price spread now: BloFin against SoDEX+0.011%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on BloFin

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—needs 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: +$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX PENGU-USD	0.009066	0.0100	pay 0.0013% / 1h	18m 34s	$1K	$5K	5x
Short	BloFin PENGU-USDT	0.009067	0.0340	get 0.0170% / 4h	1h 18m	$1.6M	$4.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against SoDEX. 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 SoDEXbpFee BloFinbpOrdersPrice spread, now +0.011%Rate

Funding earned: $50.4
Price spread: +0.011% → 0.000%: $1.1
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $31.5
Costs to cover: 0.200%
Break-even: 2.6 days

Slippage unknown: SoDEX: no order-book sample; BloFin: live order book, 5 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 SoDEX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 5 min ago	1.10 bp	10.6 bp −$11	15.5 bp −$155	38.0 bp −$3,804	doesn't fit

SoDEX: 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	0.009065	−0.011%	$1K	$29K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009093	+0.302%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.055%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009075	+0.099%	$326K	$768K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009065	−0.011%	$639K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009065	−0.012%	$143K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009065	−0.011%	$137K	$258K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009058	−0.083%	$39.5M	$189.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009055	−0.121%	$24.0M	$44.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009054	−0.132%	$8.0M	$54.8M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.009060	−0.066%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009060	−0.066%	$3.4M	$17.3M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009061	−0.055%	$11.1M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009069	+0.033%	$5.1M	$10.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009066	0.000%	$8.7M	$13.9M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009056	−0.110%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009061	−0.055%	$309K	$360K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009080	+0.153%	$926K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009090	+0.270%	$482K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009097	+0.342%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009065	−0.011%	$23K	$233K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009290	+2.471%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USDlong	+0.0100%	1h	0.009066	long leg	$1K	$5K	5x
HTX PENGU-USDT	+0.0100%	4h	0.009088	+0.243%	$94K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009057	−0.102%	$186K	$525K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009060	−0.066%	$209K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009065	−0.014%	$306	—	10x	as long as short
Hyperliquid PENGU	+0.0250%	1h	0.009076	+0.110%	$9.2M	$16.3M	5x	as long as short
01 Exchange PENGUUSD	+0.0336%	1h	0.009059	−0.077%	$207	$60	5x	as long as short
BloFin PENGU-USDTshort	+0.0340%	4h	0.009067	+0.011%	$1.6M	$4.9M	75x
GMX PENGU/USD [WBTC.b-USDC]	L +0.0443% / S −0.0368%	1h	0.009063	−0.033%	$107K	—	100x	as long as short
dYdX PENGU-USD	+0.0610%	1h	0.009080	+0.156%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0673%	1h	0.009071	+0.053%	$339K	$2.5M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009135	+0.761%	$80K	$70K	50x	as long as short