Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0141%/8h= +15.4% APRpaid last 24h +0.041%

Price spread now: Reya against HTX−0.431%7-day average — · you buy dearer than you sell

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

Long on HTX Short on Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.431% cheaper against HTX than usual: you would sell low and buy high (spread −0.431% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$43 on $10k: about 10 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PENGU-USDT	0.009104	0.0100	pay 0.0050% / 4h	3h 33m	$95K	$415K	25x
Short	Reya PENGURUSDPERP	0.009065	0.0241	get 0.0030% / 1h	33m 38s	$306	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.431%Rate

Funding earned: $29.53
Price spread: −0.431% → 0.000%: −$43.13
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$31.6
Costs to cover: 0.180%
Break-even: 14.5 days

Slippage unknown: HTX: live order book, 65 min ago; Reya: 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 HTX live order book, 65 min ago	10.39 bp	18.0 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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_USDT	−0.0220%	4h	0.009049	−0.604%	$3.7M	$17.9M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.009099	−0.055%	$1K	$29K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009085	−0.206%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.460%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009058	−0.505%	$330K	$756K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009090	−0.159%	$647K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009053	−0.560%	$9.3M	$16.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009056	−0.526%	$132K	$761K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009051	−0.582%	$137K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009053	−0.560%	$40.0M	$196.6M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDT	+0.0100%	4h	0.009041	−0.692%	$24.4M	$46.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009030	−0.813%	$8.2M	$57.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009060	−0.483%	$18K	$26K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009053	−0.560%	$11.5M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009044	−0.659%	$5.0M	$10.5M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009066	−0.417%	$8.8M	$15.1M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009061	−0.472%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009072	−0.351%	$315K	$388K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009099	−0.055%	$940K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009097	−0.077%	$474K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009132	+0.308%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009096	−0.088%	$23K	$327K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009287	+2.010%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009084	−0.220%	$1K	$5K	5x	as long as short
HTX PENGU-USDTlong	+0.0100%	4h	0.009104	long leg	$95K	$415K	25x
Extended PENGU-USD	+0.0104%	1h	0.009062	−0.463%	$189K	$744K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009093	−0.121%	$210K	—	3x	as long as short
Reya PENGURUSDPERPshort	+0.0241%	1h	0.009065	−0.431%	$306	—	10x
BloFin PENGU-USDT	+0.0340%	4h	0.009090	−0.154%	$1.6M	$5.3M	75x	as long as short
01 Exchange PENGUUSD	+0.0360%	1h	0.009066	−0.417%	$207	$41	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0380%	1h	0.009094	−0.110%	$338K	$2.7M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0431% / S −0.0351%	1h	0.009073	−0.341%	$104K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2088%	1h	0.009211	+1.175%	$81K	$73K	50x	as long as short
dYdX PENGU-USD	+0.2418%	1h	0.009051	−0.584%	$21K	$18K	5x	as long as short