Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0128%/8h= −14.1% APRpaid last 24h −0.336%

Price spread now: SunX against dYdX+2.412%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 SunX

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. SunX is 2.412% dearer against dYdX than usual: you sell high and buy low (spread +2.412% now, against zero (this spread has no 7-day history yet)): +$241 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX PENGU-USD	0.008737	0.0228	pay 0.0029% / 1h	7m 46s	$12K	$4K	5x
Short	SunX PENGU-USDT	0.008948	0.0100	get 0.0050% / 4h	1h 07m	$3K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +2.412%Rate

Funding earned: −$26.98
Price spread: +2.412% → 0.000%: $241.21
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: $196.22
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: dYdX: no order-book sample; SunX: live order book, 8 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 SunX live order book, 8 min ago	249.92 bp	doesn't fit	doesn't fit	doesn't fit	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	−0.0093%	1h	0.008739	+0.020%	$18K	$10K	10x	as long as short
01 Exchange PENGUUSD	−0.0032%	1h	0.008735	−0.026%	$200	$64	5x	as long as short
Gate PENGU_USDT	+0.0004%	4h	0.008728	−0.106%	$3.3M	$15.7M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008744	+0.080%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.592%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008739	+0.020%	$311K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008741	+0.043%	$23K	$160K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008731	−0.072%	$8.1M	$14.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008734	−0.041%	$121K	$579K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008734	−0.037%	$154K	$243K	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	0.008733	−0.053%	$36.4M	$160.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008732	−0.060%	$23.1M	$39.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008734	−0.037%	$7.3M	$46.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	+0.031%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008733	−0.049%	$11.3M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008734	−0.037%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008739	+0.020%	$8.2M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008734	−0.037%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008728	−0.106%	$298K	$293K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008756	+0.212%	$869K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008786	+0.560%	$468K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008758	+0.237%	$80K	$243K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008731	−0.072%	$585K	$1.0M	5x	as long as short
SunX PENGU-USDTshort	+0.0100%	4h	0.008948	+2.412%	$3K	$2.0M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.008739	+0.020%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008751	+0.157%	$91K	$352K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008721	−0.184%	$184K	$942K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008730	−0.083%	$202K	—	3x	as long as short
dYdX PENGU-USDlong	+0.0228%	1h	0.008737	long leg	$12K	$4K	5x
Reya PENGURUSDPERP	+0.0239%	1h	0.008735	−0.025%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008746	+0.100%	$1.5M	$3.5M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0554% / S −0.0662%	1h	0.008742	+0.054%	$131K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0650%	1h	0.008745	+0.085%	$347K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.630%	$95K	$90K	50x	as long as short