Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: HTX against Extended+0.238%7-day average +0.313% · you sell dearer than you buy

Net, funding: paid 7d − costs−$156as in the Funding arb table

Net, price: spread back to 7d avg − costs−$186as in the Price arb table

costs, in and out, $10k−$1781.785% of the position

Long on Extended Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.224%+$22 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now +0.238%, 7d avg +0.313%

Together, before fees+0.256%+ Points / potential airdropExtended: Active · farm board+$26 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.075% cheaper against Extended than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.313%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENGU-USD	0.009041	0.0104	pay 0.0013% / 1h	1m 07s	$186K	$523K	10x
Short	HTX PENGU-USDT	0.009063	0.0100	get 0.0050% / 4h	1h 01m	$94K	$404K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.238%Rate

Funding earned: −$0.84
Price spread: +0.238% → +0.313%: −$7.47
Slippage, 4 orders: −$161.48
Fee Extended: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$186.79
Costs to cover: 1.785%
Break-even: never at this rate

Slippage from Extended: live order book, 42 min ago; HTX: live order book, 42 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, 42 min ago	0.55 bp	9.3 bp −$9	90.1 bp −$901	doesn't fit	doesn't fit
Sell HTX live order book, 42 min ago	19.25 bp	133.5 bp −$134	doesn't fit	doesn't fit	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009038	−0.041%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.792%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009050	+0.094%	$324K	$772K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009034	−0.077%	$640K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009046	+0.049%	$143K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009046	+0.050%	$137K	$260K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009044	+0.028%	$39.4M	$190.2M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009035	−0.072%	$24.2M	$44.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009038	−0.038%	$8.0M	$54.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009050	+0.094%	$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	0.009034	−0.083%	$3.7M	$17.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009043	+0.017%	$11.0M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009041	−0.005%	$5.0M	$10.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009046	+0.050%	$8.7M	$13.9M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009031	−0.116%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009040	−0.016%	$295K	$368K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009079	+0.414%	$925K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009052	+0.116%	$475K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009071	+0.327%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009040	−0.016%	$23K	$248K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009254	+2.351%	$2K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009045	+0.039%	$1K	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.009063	+0.238%	$94K	$404K	25x
Extended PENGU-USDlong	+0.0104%	1h	0.009041	long leg	$186K	$523K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.009036	−0.060%	$209K	—	3x	as long as short
Hyperliquid PENGU	+0.0166%	1h	0.009049	+0.083%	$9.1M	$16.3M	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0192%	1h	0.009046	+0.050%	$1K	$29K	10x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009035	−0.069%	$305	—	10x	as long as short
01 Exchange PENGUUSD	+0.0320%	1h	0.009040	−0.016%	$207	$60	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009047	+0.061%	$1.6M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0443% / S −0.0368%	1h	0.009037	−0.049%	$107K	—	100x	as long as short
dYdX PENGU-USD	+0.0543%	1h	0.009051	+0.106%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0674%	1h	0.009047	+0.066%	$337K	$2.5M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009135	+1.034%	$80K	$70K	50x	as long as short