ArbiLayer

PENGU arbitrage

live

Live Pudgy Penguins price differences between exchanges: perpetual, spot and DEX spreads after fees, with funding and depth.

Best net spread+0.12%Variational → HTX · Perp–Perp
Best perp–perp spread+0.28%Variational → HTX
Markets tracked1811 venues · 11 perp · 7 spot · 0 DEX
Price range0.51%$0.008854 – $0.008899

Spreads between exchanges

Long (buy)Short (sell)SpreadNetSpread+FDepth $Funding 24hFunding 30DD/WChart
Binance logoBinancespot$0.008869Bybit logoBybitspot$0.00887 +0.01%-0.19% +0.01%— 0.000%— LS Chart →
Binance logoBinancespot$0.008869OKX logoOKXspot$0.00887 +0.01%-0.19% +0.01%— 0.000%— LS Chart →
Binance logoBinancespot$0.008869Gate logoGatespot$0.008869 0.00%-0.20% 0.00%— 0.000%— LS Chart →
Binance logoBinancespot$0.008869MEXC logoMEXCspot$0.008869 0.00%-0.20% 0.00%— 0.000%— LS Chart →
Bitget logoBitgetspot$0.008871Bybit logoBybitspot$0.00887 -0.01%-0.21% -0.01%— 0.000%— LS Chart →
Bitget logoBitgetspot$0.008871OKX logoOKXspot$0.00887 -0.01%-0.21% -0.01%— 0.000%— LS Chart →
Binance logoBinancespot$0.008869Bitget logoBitgetspot$0.008868 -0.01%-0.21% -0.01%— 0.000%— LS Chart →
Binance logoBinancespot$0.008869KuCoin logoKuCoinspot$0.008868 -0.01%-0.21% -0.01%— 0.000%— LS Chart →
Bybit logoBybitspot$0.008872OKX logoOKXspot$0.00887 -0.02%-0.22% -0.02%— 0.000%— LS Chart →
KuCoin logoKuCoinspot$0.008872Bybit logoBybitspot$0.00887 -0.02%-0.22% -0.02%— 0.000%— LS Chart →
KuCoin logoKuCoinspot$0.008872OKX logoOKXspot$0.00887 -0.02%-0.22% -0.02%— 0.000%— LS Chart →
Bitget logoBitgetspot$0.008871Gate logoGatespot$0.008869 -0.02%-0.22% -0.02%— 0.000%— LS Chart →
Bitget logoBitgetspot$0.008871MEXC logoMEXCspot$0.008869 -0.02%-0.22% -0.02%— 0.000%— LS Chart →
OKX logoOKXspot$0.008873Bybit logoBybitspot$0.00887 -0.03%-0.23% -0.03%— 0.000%— LS Chart →
Gate logoGatespot$0.008873Bybit logoBybitspot$0.00887 -0.03%-0.23% -0.03%— 0.000%— LS Chart →
Long = where you buy, Short = where you sell. Net subtracts a two-leg taker fee model; Spread+F adds the next funding payment.Updates every 15 seconds. Not investment advice.

PENGU price on every exchange

ExchangeMarketBidAskPricevs medianFunding 24hVolume 24h
OKX logoOKXPerpetual · PENGU-USDT-SWAPPerpetual $0.008863$0.008864$0.008864-0.03% -0.039%$34.98M
Bybit logoBybitPerpetual · PENGUUSDTPerpetual $0.008861$0.008862$0.008862-0.05% -0.015%$31.51M
KuCoin logoKuCoinPerpetual · PENGUUSDTMPerpetual $0.008859$0.008862$0.008861-0.06% -0.059%$12.77M
Bitget logoBitgetPerpetual · PENGUUSDTPerpetual $0.008877$0.008879$0.008878+0.13% +0.030%$11.56M
Hyperliquid logoHyperliquidPerpetual · PENGUPerpetual $0.008862$0.008866$0.008864-0.03% +0.006%$10.87M
MEXC logoMEXCPerpetual · PENGU_USDTPerpetual $0.008862$0.008863$0.008862-0.04% +0.007%$10.12M
Gate logoGatePerpetual · PENGU_USDTPerpetual $0.008861$0.008863$0.008862-0.05% +0.025%$6.75M
OKX logoOKXSpot · PENGU-USDTSpot $0.00887$0.008873$0.008872+0.06% —$4.88M
Bybit logoBybitSpot · PENGUUSDTSpot $0.00887$0.008872$0.008871+0.05% —$4.69M
Gate logoGateSpot · PENGU_USDTSpot $0.008869$0.008873$0.008871+0.05% —$3.74M
KuCoin logoKuCoinSpot · PENGU-USDTSpot $0.008868$0.008872$0.00887+0.04% —$2.62M
Variational logoVariationalPerpetual · PENGUPerpetual $0.00885$0.008858$0.008854-0.14% +0.030%$1.67M
Bitget logoBitgetSpot · PENGUUSDTSpot $0.008868$0.008871$0.008869+0.04% —$751.0K
HTX logoHTXPerpetual · PENGU-USDTPerpetual $0.008883$0.008915$0.008899+0.37% +0.015%$343.1K
Binance logoBinancePerpetual · PENGUUSDTPerpetual $0.008863$0.008864$0.008864-0.03% +0.008%—
Aster logoAsterPerpetual · PENGUUSDTPerpetual $0.00886$0.008868$0.008864-0.03% +0.030%—
Binance logoBinanceSpot · PENGUUSDTSpot $0.008868$0.008869$0.008869+0.03% ——
MEXC logoMEXCSpot · PENGUUSDTSpot $0.008869$0.008879$0.008874+0.09% ——
Price is the bid/ask midpoint. "vs median" compares each market with the median of all centralized venues.

PENGU arbitrage explained

Right now Pudgy Penguins (PENGU) trades on 11 venues we scan: 11 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Variational perp at $0.008858 and the highest bid on HTX perp at $0.008883.

The widest PENGU perpetual spread is between Variational and HTX: long PENGU on Variational at $0.008858 and short on HTX at $0.008883 for +0.28% gross, or +0.12% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is -0.015% per day, which the position pays while it is open.

For a spot–perpetual (cash-and-carry) trade, the best PENGU route is to buy spot on Binance and short the perpetual on HTX: +0.16% gross, -0.04% net, with +0.015% a day of funding on the short leg.

Spot–spot PENGU arbitrage (buy on Binance, withdraw, deposit and sell on Bybit) shows +0.01% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.

Small PENGU gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.

Related: PENGU funding rates · PENGU spread charts · Pudgy Penguins price · arbitrage scanner for all coins.

Is there a PENGU arbitrage opportunity right now?

The best PENGU route right now is to buy on Variational → sell on HTX (Perp–Perp): +0.28% gross and +0.12% after fees. It is positive after the fee model, but check depth and funding before trading.

Which exchange has the cheapest PENGU?

Variational (perp) has the lowest PENGU ask at $0.008858, and HTX (perp) the highest bid at $0.008883. Prices update every 15 seconds on this page.

How many exchanges list PENGU?

ArbiLayer tracks 18 PENGU markets on 11 venues: 11 perpetual, 7 spot and 0 DEX pools.

How do I arbitrage PENGU without transferring coins?

Use two perpetual contracts: go long PENGU on the cheaper exchange (Variational now) and short it on the more expensive one (HTX), then close both legs when the spread converges. The coins never move between exchanges.

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