Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0140%/8h= −15.4% APRpaid last 24h −0.041%

Price spread now: SunX against Reya+2.425%7-day average — · you sell dearer than you buy

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

Long on Reya Short on SunX

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

The price spread pays, funding is against you. SunX is 2.425% dearer against Reya than usual: you sell high and buy low (spread +2.425% now, against zero (this spread has no 7-day history yet)): +$243 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 58 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PENGURUSDPERP	0.009139	0.0240	pay 0.0030% / 1h	37m 06s	$309	—	10x
Short	SunX PENGU-USDT	0.009361	0.0100	get 0.0050% / 4h	37m 06s	$2K	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Reya. 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 ReyabpFee SunXbpOrdersPrice spread, now +2.425%Rate

Funding earned: −$29.46
Price spread: +2.425% → 0.000%: $242.54
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee SunX: 4 bp × 2 orders: −$8
Net: $199.08
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; SunX: live order book, 9 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell SunX live order book, 9 min ago	247.87 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009136	−0.039%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.833%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009144	+0.051%	$330K	$772K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009143	+0.040%	$644K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009145	+0.062%	$9.3M	$16.4M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009156	+0.182%	$145K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009174	+0.379%	$138K	$265K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009152	+0.140%	$40.1M	$192.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009147	+0.084%	$24.6M	$45.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009151	+0.128%	$8.1M	$56.4M	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	0.009160	+0.226%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009149	+0.106%	$3.7M	$17.7M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009137	−0.026%	$10.9M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009134	−0.058%	$5.0M	$10.3M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009159	+0.215%	$8.8M	$14.2M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009154	+0.160%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009150	+0.117%	$296K	$371K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009144	+0.048%	$932K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009141	+0.018%	$476K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009152	+0.139%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009139	−0.004%	$24K	$271K	20x	as long as short
SunX PENGU-USDTshort	+0.0100%	4h	0.009361	+2.425%	$2K	$2.2M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.009139	−0.004%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009180	+0.445%	$95K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009137	−0.025%	$188K	$742K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009135	−0.047%	$211K	—	3x	as long as short
Reya PENGURUSDPERPlong	+0.0240%	1h	0.009139	long leg	$309	—	10x
Deribit PENGU_USDC-PERPETUAL	+0.0297%	1h	0.009143	+0.040%	$1K	$29K	10x	as long as short
01 Exchange PENGUUSD	+0.0328%	1h	0.009152	+0.139%	$209	$41	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009146	+0.073%	$1.6M	$5.0M	75x	as long as short
dYdX PENGU-USD	+0.0356%	1h	0.009163	+0.255%	$12K	$6K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0435% / S −0.0352%	1h	0.009136	−0.036%	$105K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0534%	1h	0.009142	+0.027%	$346K	$2.6M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1928%	1h	0.009196	+0.620%	$81K	$74K	50x	as long as short