Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h +0.002%

Price spread now: 01 Exchange against BingX+0.080%7-day average — · you sell dearer than you buy

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

Long on BingX Short on 01 Exchange

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. 01 Exchange is 0.080% dearer against BingX than usual: you sell high and buy low (spread +0.080% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENGU-USDC	0.008768	0.0100	pay 0.0050% / 4h	1h 26m	—	$2.3M	—
Short	01 Exchange PENGUUSD	0.008775	−0.0080	pay 0.0010% / 1h	26m 22s	$201	$59	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.080%Rate

Funding earned: −$37.8
Price spread: +0.080% → 0.000%: $7.98
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$46.82
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 7 min ago; 01 Exchange: 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 BingX live order book, 7 min ago	2.28 bp	16.7 bp −$17	53.6 bp −$536	391.5 bp −$39.2K	862.1 bp −$431.1K
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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	−0.0606%	1h	0.008799	+0.358%	$371K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0314%	4h	0.008773	+0.057%	$3.4M	$15.6M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0205%	1h	0.008788	+0.228%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0137%	4h	0.008770	+0.023%	$22.8M	$36.4M	75x	as long as short
01 Exchange PENGUUSDshort	−0.0080%	1h	0.008775	+0.080%	$201	$59	5x
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008783	+0.165%	$33K	—	150x	as long as short
Variational Omni PENGU	+0.0017%	4h	0.008778	+0.119%	$801K	$802K	—	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	−0.604%	$3K	$81K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008772	+0.046%	$308K	$736K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008774	+0.074%	$683K	$759K	5x	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	0.008781	+0.148%	$8.7M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008783	+0.171%	$189K	$466K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008772	+0.046%	$150K	$238K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008778	+0.114%	$36.6M	$152.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008775	+0.080%	$7.7M	$47.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008770	+0.023%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008779	+0.125%	$12.7M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008778	+0.114%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008780	+0.137%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDClong	+0.0100%	4h	0.008768	long leg	—	$2.3M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008786	+0.205%	$313K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008803	+0.399%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008808	+0.456%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008779	+0.125%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008995	+2.589%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008786	+0.205%	$999	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008799	+0.354%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008767	−0.006%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008787	+0.217%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0140%	1h	0.008781	+0.150%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008775	+0.074%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008791	+0.262%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0711%	1h	0.008781	+0.148%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	+2.019%	$95K	$105K	50x	as long as short