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: SunX against Bitget+2.392%7-day average +2.660% · you sell dearer than you buy

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

Long on Bitget Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now +2.392%, 7d avg +2.660%

Together, before fees+0.016%+$2 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: SunX is 0.268% cheaper against Bitget than usual: you would sell low and buy high, −$27 on $10k if it goes back to its 7-day average of +2.660%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENGUUSDT	0.009073	0.0100	pay 0.0050% / 4h	3h 53m	$8.8M	$12.8M	75x
Short	SunX PENGU-USDT	0.009290	0.0100	get 0.0050% / 4h	3h 53m	$3K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +2.392%Rate

Funding earned: $0
Price spread: +2.392% → +2.660%: −$26.78
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$46.78
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, just now; SunX: live order book, 3 min ago. 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, just now	1.65 bp	16.7 bp −$17	39.0 bp −$390	doesn't fit	doesn't fit
Sell SunX live order book, 3 min ago	255.24 bp	doesn't fit	doesn't fit	doesn't fit	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	0.009072	−0.009%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.130%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0054%	1h	0.009048	−0.271%	$12K	$5K	5x	as long as short
01 Exchange PENGUUSD	+0.0080%	1h	0.009060	−0.143%	$207	$64	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0081%	1h	0.009079	+0.066%	$19K	$10K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.009076	+0.033%	$327K	$726K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009068	−0.055%	$609K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009070	−0.033%	$8.5M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009064	−0.100%	$130K	$600K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009044	−0.320%	$159K	$243K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.009067	−0.061%	$38.9M	$168.2M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009064	−0.099%	$24.1M	$40.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009066	−0.077%	$7.8M	$49.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009060	−0.143%	$19K	$24K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009067	−0.066%	$3.4M	$16.0M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009071	−0.022%	$11.1M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009073	0.000%	$4.9M	$9.3M	75x	as long as short
Bitget PENGUUSDTlong	+0.0100%	4h	0.009073	long leg	$8.8M	$12.8M	75x
BingX PENGU-USDT	+0.0100%	4h	0.009069	−0.044%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009072	−0.011%	$303K	$330K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008998	−0.827%	$934K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008963	−1.207%	$478K	$2.1M	10x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009078	+0.055%	$24K	$85K	20x	as long as short
SunX PENGU-USDTshort	+0.0100%	4h	0.009290	+2.392%	$3K	$2.1M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.009072	−0.011%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009066	−0.077%	$94K	$377K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009073	+0.005%	$187K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009075	+0.022%	$210K	—	3x	as long as short
ApeX Omni PENGUUSDT	+0.0169%	1h	0.009026	−0.518%	$82K	$242K	50x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.009061	−0.136%	$306	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009077	+0.044%	$1.5M	$4.1M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0516% / S −0.0477%	1h	0.009073	0.000%	$128K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0603%	1h	0.009083	+0.107%	$354K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.009096	+0.253%	$97K	$61K	50x	as long as short