Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.021%

Price spread now: Variational Omni against Extended−0.136%7-day average +0.013% · you buy dearer than you sell

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

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.034%−$3 on $10k

Price spread, last 4 days (all we have)+0.360%+$36 · spread now −0.136%, 7d avg +0.013%

Together, before fees+0.326%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board+$33 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: Variational Omni is 0.148% cheaper against Extended than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENGU-USD	0.008768	0.0104	pay 0.0013% / 1h	0m 09s	$181K	$869K	10x
Short	Variational Omni PENGU	0.008756	0.0100	get 0.0050% / 4h	3h 00m	$915K	$1.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.136%Rate

Funding earned: −$0.84
Price spread: −0.136% → +0.013%: −$14.84
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$20.68
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 53 min ago; Variational Omni: RFQ quote, 4 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 Extended live order book, 53 min ago	1.65 bp	10.4 bp −$10	86.2 bp −$862	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	3.40 bp	doesn't fit	27.2 bp −$272	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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008775	+0.081%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008771	+0.033%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0020%	4h	0.008763	−0.056%	$3.3M	$16.6M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.241%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0070%	1h	0.008762	−0.073%	$12K	$5K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008772	+0.047%	$318K	$755K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008766	−0.027%	$588K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008770	+0.024%	$8.1M	$15.4M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008769	+0.013%	$119K	$662K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008763	−0.056%	$134K	$273K	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	0.008769	+0.007%	$37.2M	$174.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008763	−0.056%	$23.3M	$41.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008764	−0.044%	$7.6M	$49.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008770	+0.024%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008767	−0.010%	$10.5M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008769	+0.013%	$4.9M	$9.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008771	+0.036%	$8.5M	$13.1M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008768	+0.001%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008765	−0.033%	$290K	$337K	10x	as long as short
Variational Omni PENGUshort	+0.0100%	4h	0.008756	−0.136%	$915K	$1.0M	—
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008839	+0.813%	$469K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008796	+0.321%	$80K	$251K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008775	+0.081%	$23K	$132K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008982	+2.442%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008772	+0.047%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008781	+0.150%	$91K	$378K	25x	as long as short
Extended PENGU-USDlong	+0.0104%	1h	0.008768	long leg	$181K	$869K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008766	−0.021%	$202K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0120%	1h	0.008778	+0.115%	$201	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008772	+0.044%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008773	+0.058%	$1.5M	$4.1M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0497% / S −0.0415%	1h	0.008771	+0.036%	$125K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0624%	1h	0.008775	+0.085%	$321K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.008886	+1.347%	$94K	$59K	50x	as long as short