Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against BingX+0.126%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$350.352% of the position

Long on BingX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 7 days−0.107%−$11 · spread now +0.126%, 7d avg +0.007%

Together, before fees−0.118%−$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.119% dearer against BingX than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENGU-USDT	0.008931	0.0100	pay 0.0050% / 4h	2h 16m	—	$3.8M	—
Short	Binance PENGUUSDT	0.008942	0.0100	get 0.0050% / 4h	2h 16m	$37.8M	$178.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against BingX. 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 BingXbpFee BinancebpOrdersPrice spread, now +0.126%Rate

Funding earned: $0
Price spread: +0.126% → +0.007%: $11.9
Slippage, 4 orders: −$15.17
Fee BingX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$23.27
Costs to cover: 0.352%
Break-even: never at this rate

Slippage from BingX: live order book, 4 min ago; Binance: live order book, 12 min ago.

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 BingX live order book, 4 min ago	1.13 bp	7.6 bp −$8	15.3 bp −$153	62.8 bp −$6,280	371.8 bp −$185.9K
Sell Binance live order book, 12 min ago	0.57 bp	10.7 bp −$11	21.5 bp −$215	70.4 bp −$7,037	doesn't fit

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	0.008949	+0.200%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.590%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0088%	1h	0.008870	−0.683%	$14K	$15K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008912	−0.213%	$323K	$750K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008952	+0.241%	$609K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008964	+0.369%	$8.3M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008937	+0.068%	$123K	$684K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008906	−0.280%	$135K	$273K	5x	as long as short
Binance PENGUUSDTshort	+0.0100%	4h	0.008942	+0.126%	$37.8M	$178.8M	75x
Bybit PENGUUSDT	+0.0100%	4h	0.008934	+0.034%	$23.7M	$42.3M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008942	+0.123%	$7.6M	$52.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008940	+0.101%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008925	−0.067%	$3.3M	$16.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008954	+0.258%	$10.7M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008941	+0.112%	$5.0M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008957	+0.291%	$8.6M	$13.5M	75x	as long as short
BingX PENGU-USDTlong	+0.0100%	4h	0.008931	long leg	—	$3.8M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008864	−0.750%	$290K	$341K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008816	−1.288%	$920K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008883	−0.541%	$466K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008872	−0.661%	$80K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008865	−0.739%	$23K	$176K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009079	+1.657%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008870	−0.683%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008877	−0.605%	$92K	$392K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008932	+0.009%	$184K	$876K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008865	−0.739%	$205K	—	3x	as long as short
dYdX PENGU-USD	+0.0195%	1h	0.008904	−0.301%	$12K	$6K	5x	as long as short
01 Exchange PENGUUSD	+0.0200%	1h	0.008946	+0.168%	$205	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008954	+0.258%	$302	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0318%	1h	0.008877	−0.604%	$328K	$2.4M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008878	−0.593%	$1.5M	$4.7M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0503% / S −0.0466%	1h	0.008859	−0.806%	$123K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008896	−0.392%	$78K	$77K	50x	as long as short