Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0257%/8h= +28.2% APRpaid last 24h +0.372%

Price spread now: dYdX against Variational Omni+0.107%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on dYdX

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 airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and dYdX is 0.107% dearer against Variational Omni than usual: you sell high and buy low: +$11 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PENGU	0.008816	−0.0083	get 0.0042% / 4h	2h 47m	$873K	$1.0M	—
Short	dYdX PENGU-USD	0.008826	0.0174	get 0.0022% / 1h	47m 51s	$12K	$4K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Variational Omni. 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 Variational OmnibpFee dYdXbpOrdersPrice spread, now +0.107%Rate

Funding earned: $53.99
Price spread: +0.107% → 0.000%: $10.72
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: $54.72
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; dYdX: 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 Variational Omni RFQ quote, 1 min ago	3.97 bp	doesn't fit	22.1 bp −$221	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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
ApeX Omni PENGUUSDT	−0.0316%	1h	0.008828	+0.135%	$81K	$249K	50x	as long as short
Nado PENGU-PERP	−0.0162%	1h	0.008828	+0.140%	$538K	$926K	5x	as long as short
Variational Omni PENGUlong	−0.0083%	4h	0.008816	long leg	$873K	$1.0M	—
Gate PENGU_USDT	−0.0070%	4h	0.008836	+0.225%	$3.4M	$15.4M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008832	+0.180%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008824	+0.088%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.308%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0056%	1h	0.008840	+0.271%	$202	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008834	+0.203%	$307K	$698K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0097%	4h	0.008832	+0.180%	$19K	$178K	20x	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	0.008839	+0.259%	$8.3M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008845	+0.328%	$169K	$442K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008844	+0.316%	$153K	$242K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008839	+0.262%	$37.5M	$156.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008827	+0.123%	$23.0M	$37.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008832	+0.180%	$7.6M	$47.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008840	+0.271%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008841	+0.282%	$12.4M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008843	+0.305%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008840	+0.271%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008833	+0.191%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008841	+0.282%	$303K	$323K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008818	+0.020%	$467K	$2.0M	10x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009034	+2.471%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008831	+0.169%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008846	+0.339%	$94K	$317K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008836	+0.228%	$182K	$940K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008834	+0.203%	$204K	—	3x	as long as short
dYdX PENGU-USDshort	+0.0174%	1h	0.008826	+0.107%	$12K	$4K	5x
Kraken Futures PF_PENGUUSD	+0.0209%	1h	0.008841	+0.277%	$365K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008815	−0.010%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008832	+0.180%	$1.5M	$3.2M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0498% / S −0.0675%	1h	0.008823	+0.078%	$111K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.711%	$95K	$104K	50x	as long as short