Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: HTX against Bybit+0.453%7-day average +0.330% · you sell dearer than you buy

Net, funding: paid 7d − costs−$158as in the Funding arb table

Net, price: spread back to 7d avg − costs−$181as in the Price arb table

costs, in and out, $10k−$1931.932% of the position

Long on Bybit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.351%+$35 on $10k

Price spread, last 3 days (all we have)−0.200%−$20 · spread now +0.453%, 7d avg +0.330%

Together, before fees+0.151%+$15 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: HTX is 0.123% dearer against Bybit than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.330%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PENGUUSDT	0.008834	0.0100	pay 0.0050% / 4h	3h 25m	$23.2M	$37.3M	75x
Short	HTX PENGU-USDT	0.008874	0.0100	get 0.0050% / 4h	3h 25m	$91K	$299K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Bybit. 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 BybitbpFee HTXbpOrdersPrice spread, now +0.453%Rate

Funding earned: $0
Price spread: +0.453% → +0.330%: $12.28
Slippage, 4 orders: −$170.25
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee HTX: 6 bp × 2 orders: −$12
Net: −$180.96
Costs to cover: 1.932%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; HTX: live order book, 46 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 Bybit live order book, 3 min ago	0.57 bp	11.1 bp −$11	25.7 bp −$257	125.7 bp −$12.6K	doesn't fit
Sell HTX live order book, 46 min ago	9.74 bp	155.5 bp −$155	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
Kraken Futures PF_PENGUUSD	−0.0390%	1h	0.008858	+0.277%	$371K	$2.3M	50x	as long as short
01 Exchange PENGUUSD	−0.0216%	1h	0.008840	+0.068%	$202	$59	5x	as long as short
Gate PENGU_USDT	−0.0206%	4h	0.008837	+0.034%	$3.4M	$15.6M	75x	as long as short
Variational Omni PENGU	−0.0199%	4h	0.008842	+0.091%	$874K	$932K	—	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008851	+0.192%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008851	+0.188%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.509%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0079%	1h	0.008850	+0.182%	$12K	$4K	5x	as long as short
Nado PENGU-PERP	+0.0096%	1h	0.008841	+0.079%	$700K	$767K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008851	+0.192%	$309K	$728K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT PENGU_USDT_Perp	+0.0098%	4h	0.008816	−0.207%	$467K	$2.0M	10x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008852	+0.204%	$24K	$175K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008844	+0.113%	$8.3M	$15.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008851	+0.189%	$190K	$481K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008845	+0.125%	$153K	$238K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008840	+0.062%	$36.9M	$154.7M	75x	as long as short
Bybit PENGUUSDTlong	+0.0100%	4h	0.008834	long leg	$23.2M	$37.3M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008840	+0.068%	$7.6M	$47.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008840	+0.068%	$20K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008845	+0.125%	$13.0M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008846	+0.136%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008849	+0.170%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008824	−0.113%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008847	+0.147%	$307K	$322K	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008820	−0.158%	$80K	$255K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009055	+2.502%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008850	+0.181%	$1K	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.008874	+0.453%	$91K	$299K	25x
Extended PENGU-USD	+0.0104%	1h	0.008835	+0.012%	$182K	$973K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008845	+0.125%	$204K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008841	+0.077%	$299	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008812	−0.249%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0518% / S −0.0723%	1h	0.008849	+0.170%	$117K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008863	+0.328%	$94K	$103K	50x	as long as short