Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0104%/8hnext payment +$0.13 per $10,000 · paid last 24h +0.053%

Price spread now: Aevo against Deribit−0.045%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Aevo is 0.045% cheaper against Deribit than usual: you would sell low and buy high (spread −0.045% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 35 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit PENGU_USDC-PERPETUAL	0.008864	0	get 0.0000% / 1h	6m 18s	$20K	$7K	10x
Short	Aevo PENGU-PERP	0.008860	0.0104	get 0.0013% / 1h	6m 18s	$205K	$17K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Deribit. 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 DeribitbpFee AevobpOrdersPrice spread, now −0.045%Rate

Funding earned: $21.84
Price spread: −0.045% → 0.000%: −$4.51
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$5.67
Costs to cover: 0.230%
Break-even: 8.8 days

Slippage unknown: Deribit: no order-book sample; Aevo: live order book, 27 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 Deribit no order-book sample	—	—	—	—	—
Sell Aevo live order book, 27 min ago	16.79 bp	35.3 bp −$35	209.1 bp −$2,091	doesn't fit	doesn't fit

Deribit: 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
Gate PENGU_USDT	−0.0092%	4h	0.008857	−0.079%	$3.6M	$14.4M	75x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008864	0.000%	$12K	$5K	5x	as long as short
Deribit PENGU_USDC-PERPETUALlong	0.0000%	1h	0.008864	long leg	$20K	$7K	10x
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008862	−0.018%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008884	+0.226%	$3K	$75K	5.5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0039%	1h	0.008867	+0.035%	$408K	$2.0M	50x	as long as short
Lighter PENGU	+0.0096%	1h	0.008865	+0.011%	$325K	$623K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008859	−0.051%	$679K	$736K	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008862	−0.024%	$175K	$408K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008859	−0.056%	$194K	$162K	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	0.008862	−0.023%	$37.7M	$143.0M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008854	−0.113%	$23.6M	$32.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008859	−0.056%	$8.1M	$45.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008860	−0.045%	$20K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008858	−0.068%	$12.8M	$11.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008861	−0.034%	$4.8M	$8.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008862	−0.023%	$8.1M	$11.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008860	−0.045%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008862	−0.023%	$315K	$314K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008868	+0.050%	$836K	$597K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008881	+0.187%	$475K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008867	+0.034%	$84K	$254K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008862	−0.023%	$21K	$187K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009066	+2.279%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008860	−0.045%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008876	+0.135%	$98K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008860	−0.047%	$182K	$680K	10x	as long as short
Aevo PENGU-PERPshort	+0.0104%	1h	0.008860	−0.045%	$205K	$17K	3x
Hyperliquid PENGU	+0.0171%	1h	0.008872	+0.090%	$10.7M	$13.3M	5x	as long as short
Reya PENGURUSDPERP	+0.0236%	1h	0.008860	−0.051%	$299	—	10x	as long as short
01 Exchange PENGUUSD	+0.0248%	1h	0.008861	−0.034%	$203	$59	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008872	+0.090%	$1.6M	$2.5M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0507% / S −0.0698%	1h	0.008864	0.000%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2976%	1h	0.009092	+2.572%	$96K	$108K	50x	as long as short