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: SunX against Bybit+2.554%7-day average +2.760% · you sell dearer than you buy

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

Long on Bybit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.136%+$14 on $10k

Price spread, last 4 days (all we have)−0.074%−$7 · spread now +2.554%, 7d avg +2.760%

Together, before fees+0.061%+$6 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 0.206% cheaper against Bybit than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of +2.760%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PENGUUSDT	0.008732	0.0100	pay 0.0050% / 4h	1h 08m	$23.1M	$39.0M	75x
Short	SunX PENGU-USDT	0.008955	0.0100	get 0.0050% / 4h	1h 08m	$2K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +2.554%Rate

Funding earned: $0
Price spread: +2.554% → +2.760%: −$20.65
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SunX: 4 bp × 2 orders: −$8
Net: −$39.65
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 5 min ago; SunX: live order book, 7 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 Bybit live order book, 5 min ago	0.57 bp	9.4 bp −$9	22.7 bp −$227	101.4 bp −$10.1K	doesn't fit
Sell SunX live order book, 7 min ago	249.92 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
01 Exchange PENGUUSD	−0.0032%	1h	0.008747	+0.172%	$200	$64	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008743	+0.126%	$18K	$10K	10x	as long as short
Gate PENGU_USDT	+0.0004%	4h	0.008741	+0.103%	$3.3M	$15.7M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008747	+0.169%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.653%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008745	+0.149%	$311K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008746	+0.160%	$23K	$163K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008741	+0.097%	$586K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008738	+0.069%	$8.1M	$14.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008746	+0.156%	$121K	$579K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008746	+0.160%	$154K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008737	+0.061%	$36.4M	$160.7M	75x	as long as short
Bybit PENGUUSDTlong	+0.0100%	4h	0.008732	long leg	$23.1M	$39.0M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008731	−0.011%	$7.3M	$46.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	+0.092%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008742	+0.115%	$11.3M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008745	+0.149%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008739	+0.080%	$8.2M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008740	+0.092%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008741	+0.103%	$298K	$293K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008756	+0.272%	$869K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008786	+0.621%	$468K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008758	+0.298%	$80K	$243K	50x	as long as short
SunX PENGU-USDTshort	+0.0100%	4h	0.008955	+2.554%	$2K	$2.0M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.008745	+0.149%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008759	+0.309%	$91K	$352K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008737	+0.054%	$184K	$942K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008735	+0.034%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0232%	1h	0.008739	+0.077%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008741	+0.102%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008746	+0.160%	$1.5M	$3.5M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0554% / S −0.0662%	1h	0.008747	+0.172%	$131K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0650%	1h	0.008751	+0.216%	$347K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.691%	$95K	$90K	50x	as long as short