Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0082%/8h= +9.0% APRpaid last 24h +0.036%

Price spread now: Extended against Gate−0.049%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$560.563% of the position

Long on Gate Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.104%+$10 on $10k

Price spread, last 4 days (all we have)−0.125%−$12 · spread now −0.049%, 7d avg −0.042%

Together, before fees−0.021%+ Points / potential airdropExtended: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.042%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PENGU_USDT	0.008680	0.0022	pay 0.0011% / 4h	46m 56s	$3.3M	$15.6M	75x
Short	Extended PENGU-USD	0.008676	0.0104	get 0.0013% / 1h	46m 56s	$179K	$946K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.049%Rate

Funding earned: $17.22
Price spread: −0.049% → −0.042%: −$0.69
Slippage, 4 orders: −$36.29
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$39.76
Costs to cover: 0.563%
Break-even: 23.2 days

Slippage from Gate: live order book, 2 min ago; Extended: live order book, 11 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	2.88 bp	17.5 bp −$18	53.5 bp −$535	doesn't fit	doesn't fit
Sell Extended live order book, 11 min ago	0.57 bp	9.9 bp −$10	91.7 bp −$917	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	0.008680	0.000%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008687	+0.082%	$32K	—	150x	as long as short
Gate PENGU_USDTlong	+0.0022%	4h	0.008680	long leg	$3.3M	$15.6M	75x
01 Exchange PENGUUSD	+0.0032%	1h	0.008692	+0.138%	$199	$64	5x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+1.256%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008686	+0.069%	$309K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008680	0.000%	$23K	$129K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008681	+0.014%	$582K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008691	+0.127%	$8.1M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008690	+0.115%	$120K	$579K	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	0.008684	+0.046%	$153K	$241K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008682	+0.026%	$36.1M	$161.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008679	−0.012%	$22.9M	$39.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008677	−0.035%	$7.2M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008700	+0.230%	$19K	$23K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008683	+0.035%	$11.0M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008683	+0.035%	$4.8M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008684	+0.046%	$8.2M	$12.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008678	−0.023%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008686	+0.069%	$297K	$293K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008695	+0.173%	$864K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008670	−0.115%	$462K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008667	−0.150%	$79K	$242K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008897	+2.500%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008679	−0.012%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008694	+0.161%	$91K	$372K	25x	as long as short
Extended PENGU-USDshort	+0.0104%	1h	0.008676	−0.049%	$179K	$946K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008675	−0.058%	$200K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008687	+0.078%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008684	+0.046%	$1.5M	$3.5M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0369%	1h	0.008684	+0.047%	$340K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0387%	1h	0.008685	+0.054%	$11K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0494% / S −0.0419%	1h	0.008689	+0.104%	$123K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008967	+3.306%	$95K	$61K	50x	as long as short