Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aevo against OKX+0.308%7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$176as in the Funding arb table

Net, price: spread back to 7d avg − costs−$149as in the Price arb table

costs, in and out, $10k−$1821.824% of the position

Long on OKX Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 4 days (all we have)−0.343%−$34 · spread now +0.308%, 7d avg −0.025%

Together, before fees−0.283%−$28 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aevo is 0.334% dearer against OKX than usual: you sell high and buy low, +$33 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PENGU-USDT-SWAP	0.009088	0.0100	pay 0.0050% / 4h	1h 56m	$8.1M	$54.3M	50x
Short	Aevo PENGU-PERP	0.009116	0.0104	get 0.0013% / 1h	56m 44s	$211K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against OKX. 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 OKXbpFee AevobpOrdersPrice spread, now +0.308%Rate

Funding earned: $0.84
Price spread: +0.308% → −0.025%: $33.36
Slippage, 4 orders: −$156.44
Fee OKX: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$148.25
Costs to cover: 1.824%
Break-even: 1242.4 days

Slippage from OKX: live order book, 2 min ago; Aevo: live order book, 52 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 OKX live order book, 2 min ago	0.55 bp	9.6 bp −$10	27.5 bp −$275	doesn't fit	doesn't fit
Sell Aevo live order book, 52 min ago	68.10 bp	76.1 bp −$76	doesn't fit	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	0.009119	+0.344%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.290%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009107	+0.209%	$334K	$758K	8x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009100	+0.128%	$121K	$691K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009096	+0.088%	$139K	$289K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009087	−0.014%	$39.5M	$185.1M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009077	−0.121%	$24.1M	$43.4M	75x	as long as short
OKX PENGU-USDT-SWAPlong	+0.0100%	4h	0.009088	long leg	$8.1M	$54.3M	50x
Arcus PENGU-USD	+0.0100%	1h	0.009100	+0.132%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009090	+0.022%	$3.4M	$16.9M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC PENGU_USDT	+0.0100%	4h	0.009088	0.000%	$11.1M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009104	+0.176%	$5.3M	$9.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009093	+0.055%	$8.7M	$13.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009096	+0.088%	—	$3.8M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009072	−0.178%	$925K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009084	−0.043%	$481K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009082	−0.066%	$82K	$250K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009115	+0.297%	$641K	$1.1M	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009120	+0.352%	$23K	$195K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009334	+2.707%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009120	+0.352%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009114	+0.286%	$94K	$401K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009093	+0.054%	$188K	$841K	10x	as long as short
Aevo PENGU-PERPshort	+0.0104%	1h	0.009116	+0.308%	$211K	—	3x
Backpack PENGU_USDC_PERP	+0.0182%	1h	0.009112	+0.264%	$313K	$375K	10x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009115	+0.299%	$308	—	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0298%	1h	0.009123	+0.385%	$1K	$29K	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009113	+0.275%	$1.6M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0391% / S −0.0291%	1h	0.009118	+0.330%	$93K	—	100x	as long as short
01 Exchange PENGUUSD	+0.0392%	1h	0.009112	+0.264%	$208	$64	5x	as long as short
dYdX PENGU-USD	+0.0506%	1h	0.009095	+0.079%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0669%	1h	0.009126	+0.422%	$341K	$2.5M	50x	as long as short
Hyperliquid PENGU	+0.0710%	1h	0.009107	+0.209%	$9.4M	$15.9M	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009185	+1.067%	$81K	$69K	50x	as long as short