Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.035%

Price spread now: SoDEX against Gate+0.212%7-day average — · you sell dearer than you buy

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

Long on Gate Short on SoDEX

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 +$4 a day on $10k at the current rate, and SoDEX is 0.212% dearer against Gate than usual: you sell high and buy low: +$21 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PENGU_USDT	0.008942	−0.0020	get 0.0010% / 4h	3h 27m	$3.4M	$16.4M	75x
Short	SoDEX PENGU-USD	0.008961	0.0100	get 0.0013% / 1h	27m 48s	$1K	$5K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.212%Rate

Funding earned: $25.2
Price spread: +0.212% → 0.000%: $21.25
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $23.45
Costs to cover: 0.230%
Break-even: 0.5 days

Slippage unknown: Gate: live order book, 1 min ago; SoDEX: no order-book sample. 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 Gate live order book, 1 min ago	2.80 bp	18.8 bp −$19	47.5 bp −$475	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
Gate PENGU_USDTlong	−0.0020%	4h	0.008942	long leg	$3.4M	$16.4M	75x
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008957	+0.168%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008954	+0.134%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.711%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0037%	1h	0.008945	+0.037%	$12K	$5K	5x	as long as short
01 Exchange PENGUUSD	+0.0080%	1h	0.008945	+0.034%	$205	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008955	+0.145%	$326K	$751K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008941	−0.006%	$600K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008955	+0.145%	$8.5M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008949	+0.082%	$138K	$642K	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	0.008956	+0.157%	$137K	$272K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008947	+0.056%	$38.3M	$171.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008938	−0.045%	$23.8M	$41.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008943	+0.011%	$7.8M	$50.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008960	+0.201%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008945	+0.034%	$11.0M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008943	+0.011%	$5.0M	$9.4M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008951	+0.101%	$8.7M	$12.9M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008941	−0.011%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008942	0.000%	$299K	$327K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009000	+0.648%	$939K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009016	+0.830%	$470K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009018	+0.850%	$82K	$251K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008957	+0.168%	$24K	$102K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009172	+2.572%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USDshort	+0.0100%	1h	0.008961	+0.212%	$1K	$5K	5x
HTX PENGU-USDT	+0.0100%	4h	0.008972	+0.335%	$93K	$379K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008940	−0.023%	$186K	$939K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008950	+0.089%	$207K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008942	0.000%	$302	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008960	+0.201%	$1.5M	$4.2M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0503% / S −0.0415%	1h	0.008952	+0.112%	$127K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0610%	1h	0.008965	+0.256%	$351K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.009007	+0.727%	$95K	$62K	50x	as long as short