Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.072%

Price spread now: SoDEX against BloFin+0.201%7-day average — · you sell dearer than you buy

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

Long on BloFin Short on SoDEX

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. SoDEX is 0.201% dearer against BloFin than usual: you sell high and buy low (spread +0.201% now, against zero (this spread has no 7-day history yet)): +$20 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENGU-USDT	0.008964	0.0340	pay 0.0170% / 4h	3h 46m	$1.5M	$4.1M	75x
Short	SoDEX PENGU-USD	0.008982	0.0100	get 0.0013% / 1h	46m 26s	$1K	$5K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.201%Rate

Funding earned: −$50.4
Price spread: +0.201% → 0.000%: $20.08
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$50.32
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: BloFin: live order book, 2 min ago; SoDEX: 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, 2 min ago	5.54 bp	12.6 bp −$13	18.5 bp −$185	46.2 bp −$4,620	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008983	+0.212%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009002	+0.422%	$33K	—	150x	as long as short
dYdX PENGU-USD	+0.0025%	1h	0.008990	+0.290%	$12K	$5K	5x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.952%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0072%	1h	0.008993	+0.324%	$206	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008993	+0.324%	$334K	$745K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008998	+0.379%	$604K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009007	+0.480%	$8.5M	$14.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008996	+0.354%	$129K	$602K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008990	+0.290%	$139K	$270K	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	0.009001	+0.413%	$38.6M	$169.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008996	+0.357%	$24.0M	$40.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008998	+0.379%	$7.9M	$49.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008990	+0.290%	$19K	$24K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008998	+0.379%	$3.4M	$16.1M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009004	+0.446%	$11.2M	$12.5M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008995	+0.346%	$4.9M	$9.4M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009007	+0.480%	$8.8M	$12.8M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008988	+0.268%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008973	+0.100%	$300K	$330K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009060	+1.070%	$945K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009005	+0.452%	$473K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009016	+0.580%	$92K	$247K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009003	+0.435%	$24K	$81K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009199	+2.622%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USDshort	+0.0100%	1h	0.008982	+0.201%	$1K	$5K	5x
HTX PENGU-USDT	+0.0100%	4h	0.009007	+0.480%	$93K	$378K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008986	+0.250%	$186K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008980	+0.178%	$207K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008999	+0.393%	$304	—	10x	as long as short
BloFin PENGU-USDTlong	+0.0340%	4h	0.008964	long leg	$1.5M	$4.1M	75x
GMX PENGU/USD [WBTC.b-USDC]	L +0.0504% / S −0.0415%	1h	0.008987	+0.257%	$128K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0609%	1h	0.008990	+0.293%	$352K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.009060	+1.071%	$96K	$61K	50x	as long as short