Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h +0.016%

Price spread now: 01 Exchange against Bybit+0.320%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 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. 01 Exchange is 0.320% dearer against Bybit than usual: you sell high and buy low (spread +0.320% now, against zero (this spread has no 7-day history yet)): +$32 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 8.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PENGUUSDT	0.008754	0.0100	pay 0.0050% / 4h	1h 10m	$23.1M	$39.0M	75x
Short	01 Exchange PENGUUSD	0.008782	−0.0032	pay 0.0004% / 1h	10m 00s	$201	$64	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.320%Rate

Funding earned: −$27.72
Price spread: +0.320% → 0.000%: $31.99
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$13.73
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Bybit: live order book, 4 min ago; 01 Exchange: 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 Bybit live order book, 4 min ago	0.57 bp	9.4 bp −$9	22.7 bp −$227	101.4 bp −$10.1K	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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
01 Exchange PENGUUSDshort	−0.0032%	1h	0.008782	+0.320%	$201	$64	5x
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008761	+0.080%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008763	+0.107%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0008%	4h	0.008756	+0.023%	$3.3M	$15.7M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.400%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008764	+0.114%	$312K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008761	+0.080%	$23K	$164K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008768	+0.160%	$587K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008760	+0.069%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008768	+0.158%	$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	0.008779	+0.286%	$154K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008757	+0.034%	$36.5M	$160.7M	75x	as long as short
Bybit PENGUUSDTlong	+0.0100%	4h	0.008754	long leg	$23.1M	$39.0M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008753	−0.011%	$7.3M	$46.6M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008780	+0.297%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008755	+0.011%	$11.3M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008763	+0.103%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008757	+0.034%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008758	+0.046%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008758	+0.046%	$299K	$293K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008756	+0.020%	$869K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008744	−0.110%	$466K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008758	+0.046%	$80K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008992	+2.719%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008761	+0.080%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008796	+0.480%	$92K	$352K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008747	−0.077%	$185K	$942K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008752	−0.023%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0232%	1h	0.008778	+0.277%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008763	+0.102%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008780	+0.297%	$1.5M	$3.5M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0555% / S −0.0662%	1h	0.008762	+0.091%	$132K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0649%	1h	0.008770	+0.188%	$348K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.433%	$95K	$90K	50x	as long as short