Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.003%

Price spread now: OKX against 01 Exchange+0.102%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 OKX

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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and OKX is 0.102% dearer against 01 Exchange than usual: you sell high and buy low: +$10 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	0.008796	0.0056	pay 0.0007% / 1h	44m 09s	$201	$64	5x
Short	OKX PENGU-USDT-SWAP	0.008805	0.0100	get 0.0050% / 4h	2h 44m	$7.5M	$47.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.102%Rate

Funding earned: $9.24
Price spread: +0.102% → 0.000%: $10.23
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: $2.47
Costs to cover: 0.170%
Break-even: 5.1 days

Slippage unknown: 01 Exchange: no order-book sample; OKX: 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 OKX live order book, 5 min ago	0.57 bp	10.7 bp −$11	23.8 bp −$238	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
Nado PENGU-PERP	−0.0116%	1h	0.008799	+0.034%	$562K	$960K	5x	as long as short
Variational Omni PENGU	−0.0050%	4h	0.008788	−0.089%	$876K	$1.0M	—	as long as short
Gate PENGU_USDT	−0.0038%	4h	0.008807	+0.125%	$3.4M	$15.4M	75x	as long as short
ApeX Omni PENGUUSDT	−0.0034%	1h	0.008823	+0.307%	$80K	$248K	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008808	+0.136%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008803	+0.079%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.080%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSDlong	+0.0056%	1h	0.008796	long leg	$201	$64	5x
Lighter PENGU	+0.0096%	1h	0.008810	+0.159%	$311K	$706K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0097%	4h	0.008800	+0.045%	$19K	$176K	20x	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	0.008810	+0.159%	$8.3M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008795	−0.009%	$169K	$441K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008785	−0.125%	$152K	$242K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008807	+0.119%	$37.4M	$157.0M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008804	+0.091%	$22.9M	$37.9M	75x	as long as short
OKX PENGU-USDT-SWAPshort	+0.0100%	4h	0.008805	+0.102%	$7.5M	$47.6M	50x
Arcus PENGU-USD	+0.0100%	1h	0.008790	−0.068%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008808	+0.136%	$12.2M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008804	+0.091%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008811	+0.171%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008795	−0.011%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008812	+0.182%	$302K	$323K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008848	+0.589%	$471K	$2.1M	10x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009012	+2.456%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008804	+0.091%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008800	+0.045%	$89K	$327K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008808	+0.140%	$181K	$940K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008808	+0.136%	$203K	—	3x	as long as short
dYdX PENGU-USD	+0.0164%	1h	0.008779	−0.196%	$12K	$4K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008815	+0.211%	$364K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008791	−0.053%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008832	+0.409%	$1.5M	$3.2M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0512% / S −0.0708%	1h	0.008800	+0.045%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.944%	$95K	$104K	50x	as long as short