Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: OKX against SoDEX−0.011%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on OKX

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—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX PENGU-USD	0.009096	0.0100	pay 0.0013% / 1h	21m 08s	$1K	$5K	5x
Short	OKX PENGU-USDT-SWAP	0.009095	0.0100	get 0.0050% / 4h	1h 21m	$8.0M	$55.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against SoDEX. 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 SoDEXbpFee OKXbpOrdersPrice spread, now −0.011%Rate

Funding earned: $0
Price spread: −0.011% → 0.000%: −$1.1
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$19.1
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; OKX: live order book, 3 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 SoDEX no order-book sample	—	—	—	—	—
Sell OKX live order book, 3 min ago	0.55 bp	10.5 bp −$10	30.3 bp −$303	doesn't fit	doesn't fit

SoDEX: 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	0.009093	−0.029%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.375%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009105	+0.099%	$327K	$768K	8x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009097	+0.015%	$144K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009101	+0.055%	$137K	$276K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009100	+0.046%	$39.7M	$189.4M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009091	−0.055%	$24.1M	$44.2M	75x	as long as short
OKX PENGU-USDT-SWAPshort	+0.0100%	4h	0.009095	−0.011%	$8.0M	$55.0M	50x
Arcus PENGU-USD	+0.0100%	1h	0.009110	+0.154%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009094	−0.022%	$3.5M	$17.3M	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	0.009100	+0.044%	$11.1M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009097	+0.011%	$5.1M	$10.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009103	+0.077%	$8.7M	$13.9M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009089	−0.077%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009095	−0.011%	$310K	$360K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009105	+0.098%	$927K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009090	−0.061%	$482K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009093	−0.033%	$80K	$252K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009094	−0.022%	$641K	$1.1M	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009096	0.000%	$23K	$231K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009321	+2.474%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USDlong	+0.0100%	1h	0.009096	long leg	$1K	$5K	5x
HTX PENGU-USDT	+0.0100%	4h	0.009116	+0.220%	$94K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009096	−0.002%	$187K	$525K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009092	−0.044%	$210K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009097	+0.007%	$307	—	10x	as long as short
Hyperliquid PENGU	+0.0253%	1h	0.009108	+0.132%	$9.2M	$16.3M	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0300%	1h	0.009100	+0.044%	$1K	$29K	10x	as long as short
01 Exchange PENGUUSD	+0.0336%	1h	0.009107	+0.121%	$208	$60	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009106	+0.110%	$1.6M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0444% / S −0.0368%	1h	0.009096	0.000%	$107K	—	100x	as long as short
dYdX PENGU-USD	+0.0606%	1h	0.009099	+0.032%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0670%	1h	0.009103	+0.076%	$340K	$2.5M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009135	+0.429%	$80K	$70K	50x	as long as short