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 Arcus+0.066%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 BloFin

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

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.066% dearer against Arcus than usual: you sell high and buy low: +$7 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	Arcus PENGU-USD	0.009070	0.0100	pay 0.0013% / 1h	4m 36s	$18K	$25K	5x
Short	BloFin PENGU-USDT	0.009076	0.0340	get 0.0170% / 4h	1h 04m	$1.6M	$4.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.066%Rate

Funding earned: $50.4
Price spread: +0.066% → 0.000%: $6.62
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee BloFin: 6 bp × 2 orders: −$12
Net: $40.52
Costs to cover: 0.165%
Break-even: 1.4 days

Slippage unknown: Arcus: no order-book sample; BloFin: 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 BloFin live order book, 4 min ago	0.55 bp	10.8 bp −$11	15.5 bp −$155	43.1 bp −$4,306	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009071	+0.014%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.098%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0081%	1h	0.009075	+0.055%	$1K	$29K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.009072	+0.022%	$325K	$772K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009071	+0.011%	$639K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009070	+0.001%	$143K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009067	−0.033%	$137K	$260K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009069	−0.010%	$39.6M	$190.1M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009061	−0.099%	$24.3M	$44.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009065	−0.055%	$8.0M	$54.9M	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-USDlong	+0.0100%	1h	0.009070	long leg	$18K	$25K	5x
Gate PENGU_USDT	+0.0100%	4h	0.009061	−0.099%	$3.7M	$17.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009069	−0.011%	$11.0M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009068	−0.022%	$5.1M	$10.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009065	−0.055%	$8.7M	$13.9M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009069	−0.011%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009063	−0.077%	$296K	$368K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009079	+0.098%	$925K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009042	−0.308%	$474K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009053	−0.187%	$79K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009072	+0.022%	$23K	$244K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009294	+2.470%	$2K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009070	0.000%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009090	+0.221%	$94K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009058	−0.134%	$186K	$523K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009067	−0.033%	$209K	—	3x	as long as short
Hyperliquid PENGU	+0.0189%	1h	0.009076	+0.066%	$9.1M	$16.3M	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009071	+0.008%	$306	—	10x	as long as short
01 Exchange PENGUUSD	+0.0328%	1h	0.009056	−0.154%	$207	$60	5x	as long as short
BloFin PENGU-USDTshort	+0.0340%	4h	0.009076	+0.066%	$1.6M	$4.9M	75x
GMX PENGU/USD [WBTC.b-USDC]	L +0.0443% / S −0.0368%	1h	0.009070	0.000%	$107K	—	100x	as long as short
dYdX PENGU-USD	+0.0554%	1h	0.009082	+0.133%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0673%	1h	0.009072	+0.026%	$337K	$2.5M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009135	+0.717%	$80K	$70K	50x	as long as short