Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0304%/8h= +33.2% APRpaid last 24h −0.245%

Price spread now: BloFin against dYdX+0.409%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 6 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

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and BloFin is 0.409% dearer against dYdX than usual: you sell high and buy low: +$41 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX PENGU-USD	0.008883	0.0036	pay 0.0005% / 1h	22m 35s	$12K	$5K	5x
Short	BloFin PENGU-USDT	0.008919	0.0340	get 0.0170% / 4h	3h 22m	$1.5M	$4.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against dYdX. 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 dYdXbpFee BloFinbpOrdersPrice spread, now +0.409%Rate

Funding earned: $63.76
Price spread: +0.409% → 0.000%: $40.87
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $82.63
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: dYdX: no order-book sample; BloFin: live order book, 11 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 dYdX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 11 min ago	1.67 bp	7.7 bp −$8	13.0 bp −$130	42.1 bp −$4,211	doesn't fit

dYdX: 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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008925	+0.476%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008925	+0.472%	$33K	—	150x	as long as short
Gate PENGU_USDT	+0.0024%	4h	0.008880	−0.030%	$3.3M	$16.4M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.055%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USDlong	+0.0036%	1h	0.008883	long leg	$12K	$5K	5x
01 Exchange PENGUUSD	+0.0080%	1h	0.008877	−0.064%	$203	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008889	+0.071%	$324K	$752K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008883	+0.003%	$595K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008886	+0.037%	$8.5M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008889	+0.066%	$137K	$643K	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	0.008883	+0.003%	$136K	$272K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008889	+0.071%	$37.9M	$172.4M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008880	−0.030%	$23.6M	$41.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008886	+0.037%	$7.7M	$50.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008880	−0.030%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008883	+0.003%	$10.8M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008880	−0.030%	$4.9M	$9.5M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008886	+0.037%	$8.6M	$13.0M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008878	−0.053%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008908	+0.285%	$298K	$328K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008894	+0.126%	$928K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008910	+0.308%	$474K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008939	+0.634%	$81K	$251K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008924	+0.465%	$23K	$106K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009135	+2.840%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008923	+0.454%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008935	+0.589%	$92K	$378K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008872	−0.125%	$184K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008915	+0.364%	$206K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008919	+0.409%	$301	—	10x	as long as short
BloFin PENGU-USDTshort	+0.0340%	4h	0.008919	+0.409%	$1.5M	$4.1M	75x
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0415%	1h	0.008924	+0.465%	$127K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0613%	1h	0.008927	+0.493%	$350K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.008940	+0.645%	$94K	$62K	50x	as long as short