Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h +0.044%

Price spread now: HTX against Deribit+0.087%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on HTX

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

The price spread pays, funding is against you. HTX is 0.087% dearer against Deribit than usual: you sell high and buy low (spread +0.087% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit PENGU_USDC-PERPETUAL	0.009187	0.0186	pay 0.0023% / 1h	14m 02s	$1K	$29K	10x
Short	HTX PENGU-USDT	0.009195	0.0100	get 0.0050% / 4h	14m 02s	$95K	$414K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.087%Rate

Funding earned: −$18.06
Price spread: +0.087% → 0.000%: $8.71
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$28.35
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; HTX: live order book, 24 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 HTX live order book, 24 min ago	10.39 bp	42.8 bp −$43	doesn't fit	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009180	−0.072%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−4.332%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009188	+0.011%	$332K	$773K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009166	−0.234%	$645K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009183	−0.038%	$147K	$730K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009159	−0.305%	$138K	$267K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009187	0.000%	$40.5M	$194.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009177	−0.109%	$24.7M	$45.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009173	−0.152%	$8.3M	$57.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009170	−0.185%	$18K	$25K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENGU_USDT	+0.0100%	4h	0.009180	−0.076%	$3.7M	$18.1M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009187	0.000%	$11.4M	$13.1M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009182	−0.054%	$5.1M	$10.4M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009191	+0.044%	$9.1M	$14.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009181	−0.065%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009187	0.000%	$318K	$382K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009127	−0.652%	$918K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009149	−0.416%	$480K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009155	−0.348%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009182	−0.054%	$24K	$299K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009393	+2.242%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009182	−0.054%	$1K	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.009195	+0.087%	$95K	$414K	25x
Extended PENGU-USD	+0.0104%	1h	0.009180	−0.076%	$188K	$746K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009179	−0.087%	$212K	—	3x	as long as short
Deribit PENGU_USDC-PERPETUALlong	+0.0186%	1h	0.009187	long leg	$1K	$29K	10x
Hyperliquid PENGU	+0.0223%	1h	0.009203	+0.174%	$9.4M	$16.6M	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009137	−0.540%	$309	—	10x	as long as short
01 Exchange PENGUUSD	+0.0328%	1h	0.009171	−0.174%	$210	$41	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009146	−0.446%	$1.6M	$5.0M	75x	as long as short
dYdX PENGU-USD	+0.0390%	1h	0.009159	−0.302%	$12K	$6K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0435% / S −0.0352%	1h	0.009143	−0.479%	$105K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0532%	1h	0.009186	−0.015%	$356K	$2.6M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1928%	1h	0.009196	+0.098%	$81K	$74K	50x	as long as short