Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0074%/8h= +8.1% APRpaid last 24h +0.352%

Price spread now: dYdX against Binance+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 Binance Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 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 +$2 a day on $10k at the current rate, and dYdX is 0.107% dearer against Binance 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	Binance PENGUUSDT	0.008816	0.0100	pay 0.0050% / 4h	2h 47m	$37.4M	$156.9M	75x
Short	dYdX PENGU-USD	0.008826	0.0174	get 0.0022% / 1h	47m 04s	$12K	$4K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Binance. 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 BinancebpFee dYdXbpOrdersPrice spread, now +0.107%Rate

Funding earned: $15.47
Price spread: +0.107% → 0.000%: $10.68
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: $6.15
Costs to cover: 0.200%
Break-even: 4.2 days

Slippage unknown: Binance: live order book, 11 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 Binance live order book, 11 min ago	0.57 bp	8.7 bp −$9	17.5 bp −$175	70.0 bp −$7,004	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
Nado PENGU-PERP	−0.0148%	1h	0.008828	+0.129%	$538K	$926K	5x	as long as short
ApeX Omni PENGUUSDT	−0.0094%	1h	0.008841	+0.282%	$81K	$249K	50x	as long as short
Variational Omni PENGU	−0.0083%	4h	0.008816	0.000%	$873K	$1.0M	—	as long as short
Gate PENGU_USDT	−0.0054%	4h	0.008815	−0.013%	$3.4M	$15.4M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008814	−0.025%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008826	+0.109%	$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	+0.0064%	1h	0.008837	+0.236%	$202	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008823	+0.077%	$306K	$698K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0097%	4h	0.008819	+0.032%	$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	0.008820	+0.043%	$8.3M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008817	+0.006%	$169K	$442K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008824	+0.089%	$152K	$242K	5x	as long as short
Binance PENGUUSDTlong	+0.0100%	4h	0.008816	long leg	$37.4M	$156.9M	75x
Bybit PENGUUSDT	+0.0100%	4h	0.008809	−0.081%	$22.9M	$37.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008813	−0.036%	$7.6M	$47.6M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008830	+0.157%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008820	+0.043%	$12.3M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008814	−0.025%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008822	+0.066%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008808	−0.093%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008815	−0.013%	$302K	$323K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008848	+0.359%	$471K	$2.1M	10x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009037	+2.505%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008817	+0.009%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008848	+0.361%	$94K	$326K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008811	−0.058%	$182K	$940K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008815	−0.013%	$204K	—	3x	as long as short
dYdX PENGU-USDshort	+0.0174%	1h	0.008826	+0.107%	$12K	$4K	5x
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008825	+0.097%	$364K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008822	+0.069%	$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 +0.0513% / S −0.0675%	1h	0.008825	+0.100%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.711%	$95K	$104K	50x	as long as short