Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Arcus against BloFin−0.149%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Arcus

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

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Arcus is 0.149% cheaper against BloFin than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENGU-USDT	0.008733	0.0340	pay 0.0170% / 4h	24m 30s	$1.5M	$2.8M	75x
Short	Arcus PENGU-USD	0.008720	0.0100	get 0.0013% / 1h	24m 30s	$19K	$24K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now −0.149%Rate

Funding earned: −$50.4
Price spread: −0.149% → 0.000%: −$14.89
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$81.79
Costs to cover: 0.165%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 4 min ago; Arcus: 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 BloFin live order book, 4 min ago	1.14 bp	11.5 bp −$11	16.7 bp −$167	39.6 bp −$3,957	doesn't fit
Sell Arcus no order-book sample	—	—	—	—	—

Arcus: 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	−0.0342%	1h	0.008743	+0.111%	$368K	$2.3M	50x	as long as short
Bybit PENGUUSDT	−0.0289%	4h	0.008716	−0.195%	$22.7M	$36.7M	75x	as long as short
Gate PENGU_USDT	−0.0286%	4h	0.008718	−0.172%	$3.4M	$15.6M	75x	as long as short
01 Exchange PENGUUSD	−0.0240%	1h	0.008717	−0.183%	$199	$59	5x	as long as short
Variational Omni PENGU	−0.0238%	4h	0.008725	−0.086%	$797K	$802K	—	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0208%	1h	0.008735	+0.023%	$19K	$9K	10x	as long as short
Backpack PENGU_USDC_PERP	−0.0165%	1h	0.008731	−0.023%	$311K	$313K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.641%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	−0.0001%	1h	0.008723	−0.115%	$692K	$775K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008731	−0.029%	$33K	—	150x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENGU-USD	+0.0026%	1h	0.008733	+0.005%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0094%	4h	0.008747	+0.158%	$458K	$2.1M	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008735	+0.023%	$306K	$741K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008732	−0.011%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008723	−0.115%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008730	−0.038%	$188K	$469K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008727	−0.069%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008722	−0.125%	$36.1M	$154.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008722	−0.126%	$7.5M	$46.8M	50x	as long as short
Arcus PENGU-USDshort	+0.0100%	1h	0.008720	−0.149%	$19K	$24K	5x
MEXC PENGU_USDT	+0.0100%	4h	0.008733	0.000%	$12.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008724	−0.103%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008726	−0.080%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008721	−0.137%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008758	+0.286%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008936	+2.325%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008735	+0.023%	$998	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008742	+0.103%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008720	−0.146%	$180K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008730	−0.034%	$202K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008721	−0.133%	$295	—	10x	as long as short
BloFin PENGU-USDTlong	+0.0340%	4h	0.008733	long leg	$1.5M	$2.8M	75x
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008731	−0.023%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008724	−0.103%	$93K	$103K	50x	as long as short