Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.036%

Price spread now: Aevo against Gate+0.055%7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$128as in the Funding arb table

Net, price: spread back to 7d avg − costs−$130as in the Price arb table

costs, in and out, $10k−$1381.383% of the position

Long on Gate Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$10 on $10k

Price spread, last 4 days (all we have)−0.097%−$10 · spread now +0.055%, 7d avg −0.025%

Together, before fees+0.008%+$1 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: Aevo is 0.081% dearer against Gate than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PENGU_USDT	0.009075	0.0100	pay 0.0050% / 4h	3h 56m	$3.7M	$17.4M	75x
Short	Aevo PENGU-PERP	0.009080	0.0104	get 0.0013% / 1h	56m 28s	$210K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Gate. 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 GatebpFee AevobpOrdersPrice spread, now +0.055%Rate

Funding earned: $0.84
Price spread: +0.055% → −0.025%: $8.05
Slippage, 4 orders: −$107.34
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$129.45
Costs to cover: 1.383%
Break-even: 1085.7 days

Slippage from Gate: live order book, 2 min ago; Aevo: 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 Gate live order book, 2 min ago	3.31 bp	15.3 bp −$15	40.8 bp −$408	doesn't fit	doesn't fit
Sell Aevo live order book, 42 min ago	27.37 bp	40.9 bp −$41	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	0.009079	+0.045%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.152%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0069%	1h	0.009108	+0.365%	$12K	$6K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0079%	1h	0.009122	+0.518%	$1K	$29K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.009108	+0.364%	$328K	$747K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009085	+0.116%	$645K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009084	+0.102%	$142K	$737K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009104	+0.320%	$138K	$270K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009084	+0.102%	$40.0M	$195.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009076	+0.011%	$24.4M	$46.4M	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	0.009082	+0.077%	$8.1M	$57.6M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009100	+0.275%	$18K	$25K	5x	as long as short
Gate PENGU_USDTlong	+0.0100%	4h	0.009075	long leg	$3.7M	$17.4M	75x
MEXC PENGU_USDT	+0.0100%	4h	0.009089	+0.154%	$11.4M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009082	+0.077%	$5.1M	$10.5M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009086	+0.121%	$8.8M	$15.0M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009080	+0.055%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009124	+0.540%	$313K	$388K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009072	−0.030%	$934K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009085	+0.115%	$477K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009067	−0.088%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009089	+0.154%	$23K	$314K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009327	+2.777%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009121	+0.507%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009127	+0.573%	$94K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009092	+0.189%	$187K	$743K	10x	as long as short
Aevo PENGU-PERPshort	+0.0104%	1h	0.009080	+0.055%	$210K	—	3x
Hyperliquid PENGU	+0.0136%	1h	0.009090	+0.165%	$9.2M	$16.8M	5x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009080	+0.058%	$307	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009117	+0.463%	$1.7M	$5.1M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0378%	1h	0.009128	+0.586%	$354K	$2.6M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0432% / S −0.0351%	1h	0.009078	+0.033%	$104K	—	100x	as long as short
01 Exchange PENGUUSD	+0.0464%	1h	0.009106	+0.342%	$208	$41	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2088%	1h	0.009233	+1.741%	$81K	$74K	50x	as long as short