Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0082%/8hnext payment +$0.10 per $10,000 · paid last 24h −0.012%

Price spread now: 01 Exchange against Hyperliquid+0.067%7-day average — · you sell dearer than you buy

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

Long on Hyperliquid Short on 01 Exchange

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—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and 01 Exchange is 0.067% dearer against Hyperliquid than usual: you sell high and buy low: +$7 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	Hyperliquid PENGU	0.008948	0.0174	pay 0.0022% / 1h	33m 11s	$10.6M	$13.1M	5x
Short	01 Exchange PENGUUSD	0.008954	0.0256	get 0.0032% / 1h	33m 11s	$205	$59	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange against Hyperliquid. 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 HyperliquidbpFee 01 ExchangebpOrdersPrice spread, now +0.067%Rate

Funding earned: $17.32
Price spread: +0.067% → 0.000%: $6.71
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: $8.02
Costs to cover: 0.160%
Break-even: 3.8 days

Slippage unknown: Hyperliquid: live order book, 7 min ago; 01 Exchange: 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 Hyperliquid live order book, 7 min ago	1.68 bp	10.3 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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	−0.0078%	4h	0.008943	−0.056%	$3.7M	$14.2M	75x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008954	+0.068%	$12K	$5K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008948	0.000%	$20K	$7K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008948	+0.004%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008792	−1.743%	$3K	$24K	5.5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0039%	1h	0.008953	+0.054%	$422K	$2.0M	50x	as long as short
Lighter PENGU	+0.0096%	1h	0.008951	+0.034%	$328K	$622K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008944	−0.050%	$691K	$730K	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008950	+0.020%	$177K	$408K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008950	+0.022%	$196K	$161K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDC	+0.0100%	4h	0.008924	−0.263%	—	$7.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008929	−0.212%	$24.1M	$31.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008931	−0.190%	$8.2M	$45.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008950	+0.022%	$20K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008946	−0.022%	$12.8M	$11.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008946	−0.022%	$4.9M	$8.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008938	−0.112%	$8.2M	$11.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008944	−0.045%	—	$4.0M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008947	−0.011%	$318K	$314K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008901	−0.530%	$841K	$596K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008932	−0.180%	$478K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008940	−0.089%	$85K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008948	0.000%	$22K	$187K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009166	+2.436%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008945	−0.034%	$1K	$8K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008955	+0.078%	$98K	$250K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008943	−0.053%	$184K	$679K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008945	−0.034%	$207K	$17K	3x	as long as short
Hyperliquid PENGUlong	+0.0174%	1h	0.008948	long leg	$10.6M	$13.1M	5x
Reya PENGURUSDPERP	+0.0236%	1h	0.008944	−0.044%	$302	—	10x	as long as short
01 Exchange PENGUUSDshort	+0.0256%	1h	0.008954	+0.067%	$205	$59	5x
BloFin PENGU-USDT	+0.0340%	4h	0.008930	−0.201%	$1.6M	$2.4M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0698%	1h	0.008949	+0.011%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2976%	1h	0.009092	+1.609%	$96K	$108K	50x	as long as short