Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: BingX against Arcus0.000%7-day average — · you sell dearer than you buy

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

Long on Arcus Short on BingX

What this pair did over the last

the charts below follow

Funding, last 4 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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus PENGU-USD	0.008720	0.0100	pay 0.0013% / 1h	43m 42s	$19K	$23K	5x
Short	BingX PENGU-USDC	0.008720	0.0100	get 0.0050% / 4h	43m 42s	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Arcus. 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 ArcusbpFee BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$14.5
Costs to cover: 0.145%
Break-even: never at this rate

Slippage unknown: Arcus: no order-book sample; BingX: live order book, 4 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 Arcus no order-book sample	—	—	—	—	—
Sell BingX live order book, 4 min ago	2.31 bp	19.2 bp −$19	64.6 bp −$646	524.9 bp −$52.5K	doesn't fit

Arcus: 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	0.008725	+0.057%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008729	+0.106%	$32K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0024%	1h	0.008721	+0.011%	$200	$64	5x	as long as short
Gate PENGU_USDT	+0.0030%	4h	0.008731	+0.126%	$3.3M	$15.6M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.791%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008737	+0.195%	$311K	$713K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008728	+0.092%	$23K	$127K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008732	+0.138%	$8.1M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008729	+0.099%	$121K	$579K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008733	+0.149%	$154K	$241K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008733	+0.155%	$36.3M	$161.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008730	+0.115%	$23.1M	$39.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008727	+0.080%	$7.2M	$46.6M	50x	as long as short
Arcus PENGU-USDlong	+0.0100%	1h	0.008720	long leg	$19K	$23K	5x
MEXC PENGU_USDT	+0.0100%	4h	0.008733	+0.149%	$11.0M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008731	+0.126%	$4.8M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008731	+0.126%	$8.2M	$12.3M	75x	as long as short
BingX PENGU-USDCshort	+0.0100%	4h	0.008720	0.000%	—	$2.3M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008731	+0.126%	$298K	$295K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008693	−0.311%	$863K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008670	−0.573%	$462K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008685	−0.401%	$79K	$243K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008726	+0.072%	$585K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008944	+2.569%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008725	+0.057%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008750	+0.344%	$91K	$372K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008722	+0.026%	$180K	$946K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008718	−0.023%	$201K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008730	+0.115%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008698	−0.252%	$1.5M	$3.5M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0367%	1h	0.008731	+0.121%	$342K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0378%	1h	0.008732	+0.140%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0495% / S −0.0419%	1h	0.008729	+0.103%	$124K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008732	+0.138%	$93K	$60K	50x	as long as short