Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: BingX against ApeX Omni−0.068%98s7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$670.673% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 3 days (all we have)−0.179%−$18 · spread now −0.068%, 7d avg −0.092%

Together, before fees−0.168%−$17 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: BingX is 0.024% dearer against ApeX Omni than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.092%. The two prices were read 98 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PENGUUSDT	0.008792	0.0100	pay 0.0013% / 1h	19m 38s	$80K	$253K	50x
Short	BingX PENGU-USDC	0.008786	0.0100	get 0.0050% / 4h	1h 19m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against ApeX 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 ApeX OmnibpFee BingXbpOrdersPrice spread, now −0.068%Rate

Funding earned: $0
Price spread: −0.068% → −0.092%: $2.42
Slippage, 4 orders: −$47.3
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$64.89
Costs to cover: 0.673%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 62 min ago; BingX: live order book, 3 min ago.

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 ApeX Omni live order book, 62 min ago	7.46 bp	14.6 bp −$15	112.8 bp −$1,128	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	2.28 bp	13.3 bp −$13	46.7 bp −$467	658.5 bp −$65.8K	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	−0.0606%	1h	0.008800	+0.096%	$368K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0290%	4h	0.008789	−0.034%	$3.4M	$15.6M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0205%	1h	0.008791	−0.011%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0149%	4h	0.008786	−0.068%	$22.9M	$36.5M	75x	as long as short
01 Exchange PENGUUSD	−0.0080%	1h	0.008795	+0.034%	$201	$59	5x	as long as short
Variational Omni PENGU	−0.0017%	4h	0.008789	−0.030%	$803K	$802K	—	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008800	+0.095%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.034%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	+0.0095%	1h	0.008794	+0.028%	$685K	$759K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008793	+0.011%	$308K	$736K	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	0.008797	+0.057%	$8.7M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008800	+0.092%	$189K	$466K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008796	+0.045%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008790	−0.019%	$36.5M	$153.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008793	+0.011%	$7.7M	$47.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008790	−0.023%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008794	+0.023%	$12.7M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008794	+0.023%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008795	+0.034%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDCshort	+0.0100%	4h	0.008786	−0.068%	—	$2.3M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008791	−0.011%	$314K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008788	−0.040%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDTlong	+0.0100%	1h	0.008792	long leg	$80K	$253K	50x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008789	−0.034%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009005	+2.423%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008790	−0.023%	$997	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008822	+0.341%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008789	−0.031%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008790	−0.023%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0127%	1h	0.008799	+0.083%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008786	−0.074%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008797	+0.057%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0711%	1h	0.008800	+0.091%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	+1.740%	$95K	$105K	50x	as long as short