Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0268%/8h= −29.3% APRpaid last 24h +0.005%

Price spread now: HTX against 01 Exchange+0.219%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 HTX

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

The price spread pays, funding is against you. HTX is 0.219% dearer against 01 Exchange than usual: you sell high and buy low (spread +0.219% now, against zero (this spread has no 7-day history yet)): +$22 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange PENGUUSD	0.009137	0.0368	pay 0.0046% / 1h	47m 35s	$209	$64	5x
Short	HTX PENGU-USDT	0.009157	0.0100	get 0.0050% / 4h	1h 47m	$95K	$401K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.219%Rate

Funding earned: −$56.28
Price spread: +0.219% → 0.000%: $21.89
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$53.39
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: 01 Exchange: no order-book sample; HTX: live order book, 61 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 HTX live order book, 61 min ago	5.09 bp	142.2 bp −$142	doesn't fit	doesn't fit	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009154	+0.184%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.809%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009155	+0.197%	$329K	$766K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009153	+0.175%	$642K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009138	+0.012%	$122K	$702K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009143	+0.066%	$140K	$291K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009127	−0.108%	$39.8M	$187.2M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009120	−0.186%	$24.2M	$43.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009121	−0.175%	$8.1M	$54.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009140	+0.033%	$18K	$26K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENGU_USDT	+0.0100%	4h	0.009137	0.000%	$3.5M	$17.0M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009142	+0.055%	$11.5M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009147	+0.109%	$5.3M	$9.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009140	+0.033%	$8.7M	$13.8M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009136	−0.011%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009155	+0.197%	$315K	$361K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009134	−0.033%	$931K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009155	+0.200%	$484K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009125	−0.131%	$80K	$251K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009155	+0.197%	$24K	$203K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009370	+2.550%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009154	+0.186%	$1K	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.009157	+0.219%	$95K	$401K	25x
Extended PENGU-USD	+0.0104%	1h	0.009129	−0.082%	$190K	$847K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009154	+0.186%	$211K	—	3x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0187%	1h	0.009161	+0.263%	$1K	$29K	10x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009150	+0.145%	$309	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009133	−0.044%	$1.6M	$4.9M	75x	as long as short
01 Exchange PENGUUSDlong	+0.0368%	1h	0.009137	long leg	$209	$64	5x
GMX PENGU/USD [WBTC.b-USDC]	L +0.0446% / S −0.0368%	1h	0.009154	+0.186%	$108K	—	100x	as long as short
Hyperliquid PENGU	+0.0534%	1h	0.009174	+0.405%	$9.4M	$16.0M	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0666%	1h	0.009166	+0.318%	$342K	$2.5M	50x	as long as short
dYdX PENGU-USD	+0.0832%	1h	0.009148	+0.124%	$12K	$6K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009194	+0.624%	$81K	$69K	50x	as long as short