Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0003%/8h= +0.3% APRpaid last 24h +0.355%

Price spread now: dYdX against Bitget−0.014%7-day average — · you buy dearer than you sell

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

Long on Bitget 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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENGUUSDT	0.008935	0.0100	pay 0.0050% / 4h	3h 07m	$8.4M	$12.7M	75x
Short	dYdX PENGU-USD	0.008934	0.0103	get 0.0013% / 1h	7m 32s	$12K	$4K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bitget. 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 BitgetbpFee dYdXbpOrdersPrice spread, now −0.014%Rate

Funding earned: $0.64
Price spread: −0.014% → 0.000%: −$1.44
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$22.8
Costs to cover: 0.220%
Break-even: 257.1 days

Slippage unknown: Bitget: live order book, 1 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 Bitget live order book, 1 min ago	1.12 bp	10.9 bp −$11	29.1 bp −$291	doesn't fit	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
Kraken Futures PF_PENGUUSD	−0.0386%	1h	0.008953	+0.201%	$373K	$2.3M	50x	as long as short
01 Exchange PENGUUSD	−0.0176%	1h	0.008933	−0.022%	$204	$59	5x	as long as short
Gate PENGU_USDT	−0.0156%	4h	0.008940	+0.056%	$3.5M	$15.9M	75x	as long as short
Variational Omni PENGU	−0.0122%	4h	0.008913	−0.246%	$920K	$976K	—	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008943	+0.090%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008935	0.000%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.634%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008944	+0.101%	$311K	$731K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008945	+0.112%	$24K	$172K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008939	+0.045%	$709K	$765K	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	0.008936	+0.011%	$8.4M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008944	+0.098%	$192K	$465K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008942	+0.078%	$154K	$240K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008935	+0.005%	$37.8M	$156.1M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008928	−0.078%	$23.4M	$37.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008935	0.000%	$7.7M	$48.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008940	+0.056%	$20K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008934	−0.011%	$13.1M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008932	−0.034%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDTlong	+0.0100%	4h	0.008935	long leg	$8.4M	$12.7M	75x
BingX PENGU-USDT	+0.0100%	4h	0.008931	−0.045%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008934	−0.011%	$307K	$321K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008952	+0.185%	$468K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008958	+0.257%	$82K	$248K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009152	+2.429%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008942	+0.078%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008961	+0.291%	$92K	$301K	25x	as long as short
dYdX PENGU-USDshort	+0.0103%	1h	0.008934	−0.014%	$12K	$4K	5x
Extended PENGU-USD	+0.0104%	1h	0.008936	+0.016%	$184K	$935K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008935	0.000%	$206K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008929	−0.070%	$302	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008944	+0.101%	$1.5M	$3.0M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0523% / S −0.0723%	1h	0.008947	+0.134%	$118K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.009008	+0.817%	$96K	$104K	50x	as long as short