Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h −0.002%

Price spread now: BingX against 01 Exchange−0.238%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on BingX

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

Funding pays, the price is against you. BingX is 0.238% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.238% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$24 on $10k: about 4.4 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange PENGUUSD	0.008811	−0.0080	get 0.0010% / 1h	28m 13s	$202	$59	5x
Short	BingX PENGU-USDT	0.008790	0.0100	get 0.0050% / 4h	1h 28m	—	$3.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.238%Rate

Funding earned: $37.8
Price spread: −0.238% → 0.000%: −$23.83
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$3.03
Costs to cover: 0.170%
Break-even: 7.6 days

Slippage unknown: 01 Exchange: no order-book sample; BingX: live order book, 7 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 BingX live order book, 7 min ago	0.57 bp	8.0 bp −$8	14.4 bp −$144	62.7 bp −$6,270	323.4 bp −$161.7K

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
Kraken Futures PF_PENGUUSD	−0.0607%	1h	0.008789	−0.248%	$370K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0314%	4h	0.008796	−0.170%	$3.5M	$15.5M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0205%	1h	0.008786	−0.284%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0138%	4h	0.008763	−0.545%	$22.8M	$36.3M	75x	as long as short
01 Exchange PENGUUSDlong	−0.0080%	1h	0.008811	long leg	$202	$59	5x
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008793	−0.200%	$33K	—	150x	as long as short
Variational Omni PENGU	+0.0017%	4h	0.008778	−0.370%	$801K	$802K	—	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	−1.090%	$3K	$81K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008781	−0.340%	$308K	$735K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008802	−0.102%	$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	0.008798	−0.148%	$8.7M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008797	−0.162%	$189K	$466K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008804	−0.079%	$151K	$238K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008778	−0.373%	$36.6M	$152.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008767	−0.499%	$7.7M	$47.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008810	−0.011%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008783	−0.318%	$12.8M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008789	−0.250%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008767	−0.499%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDTshort	+0.0100%	4h	0.008790	−0.238%	—	$3.9M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008807	−0.045%	$314K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008777	−0.387%	$459K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008788	−0.261%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008787	−0.272%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009015	+2.315%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008778	−0.375%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008818	+0.079%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008783	−0.314%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008782	−0.329%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0142%	1h	0.008808	−0.030%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008791	−0.226%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008804	−0.079%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0711%	1h	0.008793	−0.204%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	+1.521%	$95K	$105K	50x	as long as short