Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against SunX−2.299%7-day average −2.758% · you buy dearer than you sell

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

Long on SunX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 4 days (all we have)−0.158%−$16 · spread now −2.299%, 7d avg −2.758%

Together, before fees−0.172%+ Points / potential airdropExtended: Active · farm board−$17 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: Extended is 0.459% dearer against SunX than usual: you sell high and buy low, +$46 on $10k if it goes back to its 7-day average of −2.758%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PENGU-USDT	0.008961	0.0100	pay 0.0050% / 4h	1h 31m	$2K	$2.0M	10x
Short	Extended PENGU-USD	0.008755	0.0104	get 0.0013% / 1h	31m 47s	$180K	$944K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −2.299%Rate

Funding earned: $0.84
Price spread: −2.299% → −2.758%: $45.92
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $33.76
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: SunX: live order book, 4 min ago; Extended: live order book, 31 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, 4 min ago	252.43 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 31 min ago	1.70 bp	10.9 bp −$11	98.9 bp −$989	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
Deribit PENGU_USDC-PERPETUAL	−0.0093%	1h	0.008746	−2.399%	$18K	$10K	10x	as long as short
01 Exchange PENGUUSD	−0.0048%	1h	0.008757	−2.277%	$200	$64	5x	as long as short
Gate PENGU_USDT	−0.0022%	4h	0.008751	−2.343%	$3.3M	$15.6M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008752	−2.337%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.919%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008761	−2.232%	$311K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008749	−2.366%	$23K	$166K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008749	−2.360%	$587K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008761	−2.232%	$8.2M	$14.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008759	−2.251%	$121K	$577K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008760	−2.243%	$154K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008759	−2.258%	$36.6M	$160.1M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008753	−2.321%	$23.3M	$38.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008756	−2.288%	$7.5M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008760	−2.243%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008759	−2.254%	$11.4M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008758	−2.265%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008760	−2.243%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008756	−2.288%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008746	−2.399%	$300K	$274K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008738	−2.491%	$868K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008744	−2.423%	$467K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008743	−2.433%	$80K	$243K	50x	as long as short
SunX PENGU-USDTlong	+0.0100%	4h	0.008961	long leg	$2K	$2.0M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.008745	−2.410%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008773	−2.098%	$91K	$349K	25x	as long as short
Extended PENGU-USDshort	+0.0104%	1h	0.008755	−2.299%	$180K	$944K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008737	−2.500%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0214%	1h	0.008755	−2.296%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008751	−2.347%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008744	−2.422%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0555% / S −0.0662%	1h	0.008751	−2.343%	$131K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0650%	1h	0.008754	−2.314%	$355K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+0.067%	$95K	$94K	50x	as long as short