Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.072%

Price spread now: ApeX Omni against BloFin+0.057%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$460.455% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.480%−$48 on $10k

Price spread, last 4 days (all we have)−0.247%−$25 · spread now +0.057%, 7d avg +0.036%

Together, before fees−0.728%−$73 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.021% dearer against BloFin than usual: you sell high and buy low (spread +0.057% now, against its 7-day average of +0.036%): +$2 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENGU-USDT	0.008818	0.0340	pay 0.0170% / 4h	14m 48s	$1.5M	$3.7M	75x
Short	ApeX Omni PENGUUSDT	0.008823	0.0100	get 0.0013% / 1h	14m 48s	$80K	$242K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now +0.057%Rate

Funding earned: −$50.4
Price spread: +0.057% → +0.036%: $2.11
Slippage, 4 orders: −$23.51
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$93.8
Costs to cover: 0.455%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; ApeX Omni: live order book, 42 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 BloFin live order book, 4 min ago	2.84 bp	10.0 bp −$10	14.7 bp −$147	45.4 bp −$4,536	doesn't fit
Sell ApeX Omni live order book, 42 min ago	5.14 bp	12.5 bp −$13	101.2 bp −$1,012	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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008823	+0.057%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008820	+0.025%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.329%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0084%	4h	0.008816	−0.023%	$3.3M	$15.7M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008827	+0.102%	$314K	$719K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008822	+0.045%	$23K	$107K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008818	+0.006%	$592K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008822	+0.045%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008821	+0.033%	$118K	$589K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008820	+0.023%	$155K	$241K	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	0.008819	+0.012%	$36.9M	$163.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008816	−0.023%	$23.4M	$39.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008814	−0.045%	$7.4M	$47.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008820	+0.023%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008821	+0.034%	$10.9M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008821	+0.034%	$4.9M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008818	0.000%	$8.3M	$12.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008819	+0.011%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008817	−0.011%	$294K	$317K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008816	−0.023%	$916K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008825	+0.085%	$461K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDTshort	+0.0100%	1h	0.008823	+0.057%	$80K	$242K	50x
SunX PENGU-USDT	+0.0100%	4h	0.009030	+2.404%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008821	+0.034%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008823	+0.057%	$92K	$371K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008817	−0.016%	$185K	$941K	10x	as long as short
01 Exchange PENGUUSD	+0.0104%	1h	0.008827	+0.102%	$202	$64	5x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008815	−0.034%	$204K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008813	−0.051%	$298	—	10x	as long as short
BloFin PENGU-USDTlong	+0.0340%	4h	0.008818	long leg	$1.5M	$3.7M	75x
Kraken Futures PF_PENGUUSD	+0.0363%	1h	0.008830	+0.135%	$345K	$2.3M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0499% / S −0.0492%	1h	0.008819	+0.011%	$119K	—	100x	as long as short
dYdX PENGU-USD	+0.0514%	1h	0.008819	+0.015%	$12K	$5K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008950	+1.497%	$96K	$62K	50x	as long as short