Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0333%/8h= +36.5% APRpaid last 24h +0.100%

Price spread now: BloFin against gTrade (Gains Network)+0.113%50s7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 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 +$10 a day on $10k at the current rate, and BloFin is 0.113% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$11 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 50 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	gTrade (Gains Network) PENGU/USD	0.008998	L +0.0007% / S −0.0003%	pay 0.0001% / 1h	51m 50s	$33K	—	150x
Short	BloFin PENGU-USDT	0.009008	0.0340	get 0.0170% / 4h	51m 50s	$1.6M	$4.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BloFinbpOrdersPrice spread, now +0.113%Rate

Funding earned: $69.92
Price spread: +0.113% → 0.000%: $11.29
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $59.22
Costs to cover: 0.220%
Break-even: 1.1 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BloFin: live order book, 2 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell BloFin live order book, 2 min ago	0.56 bp	9.2 bp −$9	11.9 bp −$119	39.3 bp −$3,930	doesn't fit

gTrade (Gains Network): 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
gTrade (Gains Network) PENGU/USDlong	L +0.0007% / S −0.0003%	1h	0.008998	long leg	$33K	—	150x
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.321%	$3K	$117K	5.5x	as long as short
ApeX Omni PENGUUSDT	+0.0056%	1h	0.008989	−0.098%	$79K	$252K	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0083%	1h	0.009012	+0.157%	$1K	$29K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.009027	+0.324%	$323K	$769K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009029	+0.346%	$9.1M	$16.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009014	+0.184%	$142K	$715K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009010	+0.135%	$136K	$264K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009013	+0.168%	$39.2M	$190.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009002	+0.046%	$24.1M	$44.6M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009009	+0.124%	$7.9M	$54.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009000	+0.024%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009009	+0.124%	$3.7M	$17.5M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009014	+0.180%	$10.8M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009019	+0.235%	$5.0M	$10.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009021	+0.257%	$8.7M	$14.0M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009004	+0.068%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009011	+0.146%	$292K	$369K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008962	−0.400%	$913K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009024	+0.294%	$473K	$2.1M	10x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008999	+0.013%	$634K	$1.1M	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009006	+0.091%	$23K	$258K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009217	+2.436%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009010	+0.135%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009024	+0.291%	$93K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009018	+0.220%	$185K	$517K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009005	+0.080%	$208K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009000	+0.020%	$304	—	10x	as long as short
01 Exchange PENGUUSD	+0.0296%	1h	0.009005	+0.080%	$206	$41	5x	as long as short
BloFin PENGU-USDTshort	+0.0340%	4h	0.009008	+0.113%	$1.6M	$4.9M	75x
dYdX PENGU-USD	+0.0371%	1h	0.008999	+0.016%	$12K	$6K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0430% / S −0.0352%	1h	0.008997	−0.009%	$103K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0542%	1h	0.009016	+0.197%	$334K	$2.5M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1928%	1h	0.009135	+1.524%	$80K	$70K	50x	as long as short