Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0236%/8h= +25.8% APRpaid last 24h +0.071%

Price spread now: BloFin against Extended+0.197%94s7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs+$10as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$390.386% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.486%+$49 on $10k

Price spread, last 4 days (all we have)−0.066%−$7 · spread now +0.197%, 7d avg +0.046%

Together, before fees+0.419%+ Points / potential airdropExtended: Active · farm board+$42 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.151% dearer against Extended than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.046%. The two prices were read 94 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENGU-USD	0.008942	0.0104	pay 0.0013% / 1h	27m 19s	$186K	$939K	10x
Short	BloFin PENGU-USDT	0.008960	0.0340	get 0.0170% / 4h	3h 27m	$1.5M	$4.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Extended. 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 ExtendedbpFee BloFinbpOrdersPrice spread, now +0.197%Rate

Funding earned: $49.56
Price spread: +0.197% → +0.046%: $15.08
Slippage, 4 orders: −$21.58
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: $26.06
Costs to cover: 0.386%
Break-even: 3.3 days

Slippage from Extended: live order book, 26 min ago; BloFin: live order book, 6 min ago.

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 Extended live order book, 26 min ago	1.65 bp	10.4 bp −$10	86.2 bp −$862	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	1.67 bp	7.7 bp −$8	13.0 bp −$130	42.1 bp −$4,211	doesn't fit

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	0.008957	+0.163%	$19K	$10K	10x	as long as short
Gate PENGU_USDT	+0.0006%	4h	0.008936	−0.072%	$3.4M	$16.4M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008939	−0.035%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.715%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0037%	1h	0.008945	+0.032%	$12K	$5K	5x	as long as short
01 Exchange PENGUUSD	+0.0080%	1h	0.008950	+0.085%	$205	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008955	+0.141%	$326K	$751K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008944	+0.018%	$600K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008951	+0.096%	$8.5M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008940	−0.024%	$138K	$642K	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	0.008947	+0.051%	$137K	$272K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008939	−0.038%	$38.3M	$171.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008929	−0.150%	$23.7M	$41.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008933	−0.105%	$7.8M	$50.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008950	+0.085%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008946	+0.040%	$10.9M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008942	−0.005%	$5.0M	$9.4M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008949	+0.074%	$8.7M	$12.9M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008934	−0.094%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008942	−0.005%	$299K	$327K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009000	+0.643%	$939K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008959	+0.189%	$476K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009018	+0.845%	$82K	$251K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008937	−0.060%	$24K	$103K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009172	+2.567%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008961	+0.208%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008972	+0.331%	$93K	$379K	25x	as long as short
Extended PENGU-USDlong	+0.0104%	1h	0.008942	long leg	$186K	$939K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008927	−0.172%	$206K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008940	−0.032%	$302	—	10x	as long as short
BloFin PENGU-USDTshort	+0.0340%	4h	0.008960	+0.197%	$1.5M	$4.2M	75x
GMX PENGU/USD [WBTC.b-USDC]	L +0.0503% / S −0.0415%	1h	0.008938	−0.049%	$127K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0610%	1h	0.008965	+0.252%	$351K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.009007	+0.722%	$95K	$62K	50x	as long as short