Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against HTX−0.318%52s7-day average −0.332% · you buy dearer than you sell

Net, funding: paid 7d − costs−$217as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1951.952% of the position

Long on HTX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.215%−$21 on $10k

Price spread, last 3 days (all we have)−0.020%−$2 · spread now −0.318%, 7d avg −0.332%

Together, before fees−0.235%−$24 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PENGU-USDT	0.008797	0.0100	pay 0.0050% / 4h	1h 31m	$92K	$249K	25x
Short	BingX PENGU-USDC	0.008769	0.0100	get 0.0050% / 4h	1h 31m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against HTX. 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 HTXbpFee BingXbpOrdersPrice spread, now −0.318%Rate

Funding earned: $0
Price spread: −0.318% → −0.332%: $1.35
Slippage, 4 orders: −$173.22
Fee HTX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$193.87
Costs to cover: 1.952%
Break-even: never at this rate

Slippage from HTX: live order book, 50 min ago; BingX: live order book, 2 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 HTX live order book, 50 min ago	11.45 bp	17.5 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	2.28 bp	20.8 bp −$21	60.7 bp −$607	708.7 bp −$70.9K	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
Kraken Futures PF_PENGUUSD	−0.0607%	1h	0.008788	−0.098%	$370K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0322%	4h	0.008781	−0.182%	$3.5M	$15.5M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0205%	1h	0.008780	−0.193%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0136%	4h	0.008779	−0.205%	$22.8M	$36.3M	75x	as long as short
01 Exchange PENGUUSD	−0.0080%	1h	0.008789	−0.091%	$201	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008788	−0.106%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	−0.932%	$3K	$81K	5.5x	as long as short
Variational Omni PENGU	+0.0054%	4h	0.008794	−0.029%	$836K	$768K	—	as long as short
Lighter PENGU	+0.0096%	1h	0.008791	−0.068%	$308K	$735K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008787	−0.114%	$680K	$757K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008790	−0.080%	$8.7M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008794	−0.033%	$189K	$466K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008791	−0.068%	$151K	$238K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008788	−0.100%	$36.6M	$152.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008785	−0.136%	$7.7M	$47.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008790	−0.080%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008786	−0.125%	$12.7M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008789	−0.091%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008790	−0.080%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDCshort	+0.0100%	4h	0.008769	−0.318%	—	$2.3M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008781	−0.182%	$313K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008791	−0.063%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008788	−0.102%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008778	−0.216%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008982	+2.103%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008777	−0.227%	$1K	$5K	5x	as long as short
HTX PENGU-USDTlong	+0.0100%	4h	0.008797	long leg	$92K	$249K	25x
Extended PENGU-USD	+0.0104%	1h	0.008783	−0.159%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008775	−0.250%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0131%	1h	0.008790	−0.078%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008784	−0.153%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008783	−0.159%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0711%	1h	0.008788	−0.102%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	+1.682%	$95K	$105K	50x	as long as short