Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0141%/8h= +15.5% APRpaid last 24h +0.041%

Price spread now: Reya against Binance−0.033%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Reya

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.033% cheaper against Binance than usual: you would sell low and buy high (spread −0.033% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 18 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENGUUSDT	0.009069	0.0100	pay 0.0050% / 4h	1h 53m	$40.0M	$192.4M	75x
Short	Reya PENGURUSDPERP	0.009066	0.0241	get 0.0030% / 1h	53m 04s	$306	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.033%Rate

Funding earned: $29.65
Price spread: −0.033% → 0.000%: −$3.25
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: $10.4
Costs to cover: 0.160%
Break-even: 4.5 days

Slippage unknown: Binance: live order book, 13 min ago; Reya: 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, 13 min ago	0.55 bp	8.3 bp −$8	16.1 bp −$161	71.7 bp −$7,169	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 exchanges

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
dYdX PENGU-USD	0.0000%	1h	0.009068	−0.007%	$20K	$21K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.009073	+0.045%	$1K	$27K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009067	−0.022%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.086%	$3K	$117K	5.5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0064%	1h	0.009075	+0.062%	$332K	$2.6M	50x	as long as short
Lighter PENGU	+0.0096%	1h	0.009076	+0.078%	$325K	$699K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009061	−0.082%	$650K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009071	+0.023%	$135K	$774K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009066	−0.032%	$137K	$225K	5x	as long as short
Binance PENGUUSDTlong	+0.0100%	4h	0.009069	long leg	$40.0M	$192.4M	75x

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDT	+0.0100%	4h	0.009057	−0.131%	$24.6M	$46.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009061	−0.087%	$8.4M	$56.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009070	+0.012%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009065	−0.043%	$3.7M	$17.9M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009064	−0.054%	$12.2M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009067	−0.021%	$5.1M	$10.5M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009072	+0.034%	$8.7M	$14.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009066	−0.032%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009067	−0.021%	$302K	$366K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009073	+0.047%	$917K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009084	+0.169%	$480K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009079	+0.111%	$82K	$247K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009070	+0.012%	$23K	$357K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009285	+2.383%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009071	+0.023%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009082	+0.144%	$93K	$368K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009059	−0.109%	$185K	$740K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009070	+0.012%	$210K	—	3x	as long as short
Hyperliquid PENGU	+0.0159%	1h	0.009079	+0.111%	$9.7M	$17.0M	5x	as long as short
Reya PENGURUSDPERPshort	+0.0241%	1h	0.009066	−0.033%	$306	—	10x
01 Exchange PENGUUSD	+0.0296%	1h	0.009071	+0.023%	$208	$141	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009072	+0.034%	$1.6M	$5.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0433% / S −0.0357%	1h	0.009066	−0.032%	$105K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2136%	1h	0.009222	+1.688%	$84K	$95K	50x	as long as short