Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.006%

Price spread now: Binance against 01 Exchange+0.033%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on Binance

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—needs both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Binance is 0.033% dearer against 01 Exchange than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange PENGUUSD	0.009060	0.0080	pay 0.0010% / 1h	53m 37s	$207	$64	5x
Short	Binance PENGUUSDT	0.009063	0.0100	get 0.0050% / 4h	3h 53m	$38.9M	$168.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against 01 Exchange. 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 01 ExchangebpFee BinancebpOrdersPrice spread, now +0.033%Rate

Funding earned: $4.2
Price spread: +0.033% → 0.000%: $3.31
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$9.49
Costs to cover: 0.170%
Break-even: 22.8 days

Slippage unknown: 01 Exchange: no order-book sample; Binance: live order book, 5 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Binance live order book, 5 min ago	0.56 bp	7.0 bp −$7	16.0 bp −$160	60.3 bp −$6,026	doesn't fit

01 Exchange: 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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008998	−0.684%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009002	−0.638%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.991%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0054%	1h	0.009048	−0.128%	$12K	$5K	5x	as long as short
01 Exchange PENGUUSDlong	+0.0080%	1h	0.009060	long leg	$207	$64	5x
Lighter PENGU	+0.0096%	1h	0.009038	−0.243%	$326K	$725K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009068	+0.088%	$609K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009035	−0.276%	$8.4M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009031	−0.326%	$130K	$600K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009044	−0.177%	$159K	$243K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDTshort	+0.0100%	4h	0.009063	+0.033%	$38.9M	$168.1M	75x
Bybit PENGUUSDT	+0.0100%	4h	0.009057	−0.033%	$24.0M	$40.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009065	+0.055%	$7.8M	$49.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009060	0.000%	$19K	$24K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009011	−0.541%	$3.4M	$15.9M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009051	−0.099%	$11.1M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009046	−0.155%	$4.9M	$9.3M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009071	+0.121%	$8.9M	$12.8M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009048	−0.132%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008992	−0.751%	$301K	$330K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008998	−0.685%	$934K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008963	−1.065%	$478K	$2.1M	10x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008997	−0.695%	$24K	$85K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009218	+1.744%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008997	−0.695%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009016	−0.486%	$93K	$377K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009052	−0.086%	$187K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008994	−0.728%	$208K	—	3x	as long as short
ApeX Omni PENGUUSDT	+0.0169%	1h	0.009026	−0.375%	$82K	$242K	50x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008999	−0.677%	$304	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009023	−0.408%	$1.5M	$4.0M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0514% / S −0.0477%	1h	0.009001	−0.651%	$127K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0607%	1h	0.009009	−0.562%	$351K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.009069	+0.099%	$96K	$61K	50x	as long as short