Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.035%

Price spread now: Gate against HTX−0.289%7-day average −0.277% · you buy dearer than you sell

Net, funding: paid 7d − costs−$226as in the Funding arb table

Net, price: spread back to 7d avg − costs−$196as in the Price arb table

costs, in and out, $10k−$1951.946% of the position

Long on HTX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.315%−$31 on $10k

Price spread, last 4 days (all we have)+0.074%+$7 · spread now −0.289%, 7d avg −0.277%

Together, before fees−0.241%−$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	0.009002	0.0100	pay 0.0050% / 4h	1h 36m	$93K	$404K	25x
Short	Gate PENGU_USDT	0.008976	0.0100	get 0.0050% / 4h	1h 36m	$3.4M	$17.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.289%Rate

Funding earned: $0
Price spread: −0.289% → −0.277%: −$1.22
Slippage, 4 orders: −$167.64
Fee HTX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$195.86
Costs to cover: 1.946%
Break-even: never at this rate

Slippage from HTX: live order book, 7 min ago; Gate: live order book, 3 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, 7 min ago	19.25 bp	26.3 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	3.33 bp	18.8 bp −$19	49.4 bp −$494	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	0.008988	−0.156%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.366%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0084%	1h	0.008992	−0.111%	$1K	$29K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008997	−0.056%	$323K	$767K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008986	−0.178%	$631K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008992	−0.113%	$129K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008991	−0.122%	$136K	$295K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008992	−0.113%	$39.4M	$188.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008982	−0.222%	$23.8M	$44.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008985	−0.189%	$8.0M	$54.1M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.009000	−0.022%	$18K	$26K	5x	as long as short
Gate PENGU_USDTshort	+0.0100%	4h	0.008976	−0.289%	$3.4M	$17.2M	75x
MEXC PENGU_USDT	+0.0100%	4h	0.008994	−0.089%	$11.1M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008984	−0.200%	$4.9M	$10.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008991	−0.122%	$8.6M	$13.9M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008983	−0.211%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008988	−0.156%	$309K	$362K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009060	+0.643%	$926K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009057	+0.611%	$476K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009074	+0.800%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008991	−0.122%	$23K	$214K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009208	+2.288%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008991	−0.122%	$1K	$5K	5x	as long as short
HTX PENGU-USDTlong	+0.0100%	4h	0.009002	long leg	$93K	$404K	25x
Extended PENGU-USD	+0.0104%	1h	0.008987	−0.172%	$186K	$642K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008987	−0.167%	$208K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008981	−0.236%	$303	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008992	−0.111%	$1.6M	$4.8M	75x	as long as short
01 Exchange PENGUUSD	+0.0352%	1h	0.008999	−0.033%	$206	$64	5x	as long as short
Hyperliquid PENGU	+0.0375%	1h	0.008986	−0.178%	$9.1M	$16.2M	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0442% / S −0.0368%	1h	0.008985	−0.189%	$106K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0678%	1h	0.008998	−0.046%	$335K	$2.5M	50x	as long as short
dYdX PENGU-USD	+0.0753%	1h	0.008977	−0.278%	$12K	$6K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009151	+1.655%	$81K	$69K	50x	as long as short