Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aevo against SunX−2.585%7-day average −2.756% · you buy dearer than you sell

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

Long on SunX Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 3 days (all we have)+0.097%+$10 · spread now −2.585%, 7d avg −2.756%

Together, before fees+0.099%+$10 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 0.171% dearer against SunX than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of −2.756%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PENGU-USDT	0.009015	0.0100	pay 0.0050% / 4h	1h 27m	$3K	$2.1M	10x
Short	Aevo PENGU-PERP	0.008782	0.0104	get 0.0013% / 1h	27m 53s	$203K	$17K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against SunX. 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 SunXbpFee AevobpOrdersPrice spread, now −2.585%Rate

Funding earned: $0.84
Price spread: −2.585% → −2.756%: $17.15
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$6.01
Costs to cover: 0.240%
Break-even: 57.1 days

Slippage unknown: SunX: live order book, 8 min ago; Aevo: live order book, 56 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 SunX live order book, 8 min ago	251.43 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Aevo live order book, 56 min ago	11.49 bp	30.9 bp −$31	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
Kraken Futures PF_PENGUUSD	−0.0607%	1h	0.008789	−2.505%	$370K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0314%	4h	0.008767	−2.751%	$3.4M	$15.6M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0205%	1h	0.008786	−2.540%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0138%	4h	0.008769	−2.729%	$22.8M	$36.3M	75x	as long as short
01 Exchange PENGUUSD	−0.0080%	1h	0.008811	−2.263%	$202	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008793	−2.458%	$33K	—	150x	as long as short
Variational Omni PENGU	+0.0017%	4h	0.008778	−2.624%	$801K	$802K	—	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	−3.328%	$3K	$81K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008781	−2.596%	$308K	$735K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008802	−2.363%	$681K	$757K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008773	−2.684%	$8.7M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008772	−2.692%	$189K	$466K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008804	−2.341%	$151K	$238K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008777	−2.640%	$36.6M	$152.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008772	−2.696%	$7.7M	$47.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008810	−2.274%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008767	−2.751%	$12.7M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008768	−2.740%	$4.7M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008777	−2.640%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008770	−2.718%	—	$3.9M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008772	−2.696%	$313K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008777	−2.641%	$459K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008788	−2.518%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008787	−2.529%	$23K	$186K	20x	as long as short
SunX PENGU-USDTlong	+0.0100%	4h	0.009015	long leg	$3K	$2.1M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.008778	−2.629%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008818	−2.185%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008765	−2.770%	$181K	$682K	10x	as long as short
Aevo PENGU-PERPshort	+0.0104%	1h	0.008782	−2.585%	$203K	$17K	3x
dYdX PENGU-USD	+0.0142%	1h	0.008808	−2.292%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008791	−2.484%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008804	−2.341%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0711%	1h	0.008793	−2.463%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	−0.776%	$95K	$105K	50x	as long as short