Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0097%/8h= −10.6% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against Binance+0.114%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 gTrade (Gains Network)

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—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.114% dearer against Binance than usual: you sell high and buy low (spread +0.114% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENGUUSDT	0.008796	0.0100	pay 0.0050% / 4h	1h 14m	$36.5M	$153.2M	75x
Short	gTrade (Gains Network) PENGU/USD	0.008806	L +0.0007% / S −0.0003%	get 0.0000% / 1h	14m 06s	$34K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.114%Rate

Funding earned: −$20.35
Price spread: +0.114% → 0.000%: $11.37
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$28.99
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 14 min ago; gTrade (Gains Network): 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, 14 min ago	0.57 bp	7.3 bp −$7	14.9 bp −$149	70.6 bp −$7,057	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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
Kraken Futures PF_PENGUUSD	−0.0605%	1h	0.008811	+0.170%	$369K	$2.2M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0318%	1h	0.008801	+0.057%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0292%	4h	0.008798	+0.023%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0174%	4h	0.008791	−0.057%	$22.9M	$36.5M	75x	as long as short
01 Exchange PENGUUSD	−0.0096%	1h	0.008801	+0.057%	$201	$59	5x	as long as short
Variational Omni PENGU	−0.0046%	4h	0.008785	−0.120%	$802K	$802K	—	as long as short
gTrade (Gains Network) PENGU/USDshort	L +0.0007% / S −0.0003%	1h	0.008806	+0.114%	$34K	—	150x
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.080%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	+0.0079%	1h	0.008806	+0.114%	$686K	$760K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008800	+0.045%	$309K	$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	0.008804	+0.091%	$8.7M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008809	+0.147%	$190K	$467K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008809	+0.148%	$152K	$239K	5x	as long as short
Binance PENGUUSDTlong	+0.0100%	4h	0.008796	long leg	$36.5M	$153.2M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008795	−0.011%	$7.7M	$47.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008810	+0.159%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008799	+0.034%	$12.7M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008805	+0.102%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008804	+0.091%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008798	+0.023%	—	$3.9M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008799	+0.034%	$314K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008784	−0.136%	$459K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008788	−0.091%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008801	+0.057%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009012	+2.456%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008798	+0.023%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008827	+0.352%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008793	−0.038%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008795	−0.011%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0122%	1h	0.008807	+0.121%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008801	+0.056%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008805	+0.102%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0711%	1h	0.008805	+0.102%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008877	+0.921%	$94K	$104K	50x	as long as short