PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0493%/8h= −54.0% APRnext payment −$0.62 per $10,000 · paid last 24h −0.008%

Price spread now: Kraken Futures against ApeX Omni−0.011%7-day average +0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$650.655% of the position

Long on ApeX Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 3 days (all we have)+0.236%+$24 · spread now −0.011%, 7d avg +0.063%

Together, before fees+0.300%+$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Kraken Futures is 0.074% cheaper against ApeX Omni than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.063%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.064%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.064% in total (about 3.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.62 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PENGUUSDT	0.008791	0.0100	pay 0.0013% / 1h	59m 23s	$80K	$254K	50x
Short	Kraken Futures PF_PENGUUSD	0.008790	−0.0393	pay 0.0049% / 1h	59m 23s	$368K	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against ApeX Omni. 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 ApeX OmnibpFee Kraken FuturesbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$103.61
Price spread: −0.011% → +0.063%: −$7.38
Slippage, 4 orders: −$45.47
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$176.45
Costs to cover: 0.655%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 12 min ago; Kraken Futures: live order book, 4 min ago.

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 ApeX Omni live order book, 12 min ago	5.75 bp	14.7 bp −$15	101.3 bp −$1,013	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	2.28 bp	17.6 bp −$18	35.0 bp −$350	doesn't fit	doesn't fit

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_PENGUUSDshort	−0.0393%	1h	0.008790	−0.011%	$368K	$2.3M	50x
Variational Omni PENGU	−0.0296%	4h	0.008774	−0.190%	$867K	$927K	—	as long as short
Gate PENGU_USDT	−0.0296%	4h	0.008776	−0.171%	$3.4M	$15.4M	75x	as long as short
Backpack PENGU_USDC_PERP	−0.0139%	1h	0.008787	−0.046%	$309K	$315K	10x	as long as short
01 Exchange PENGUUSD	−0.0056%	1h	0.008780	−0.125%	$201	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008780	−0.131%	$33K	—	150x	as long as short
dYdX PENGU-USD	+0.0030%	1h	0.008792	+0.011%	$12K	$4K	5x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.023%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008781	−0.114%	$307K	$726K	8x	as long as short
GRVT PENGU_USDT_Perp	+0.0096%	4h	0.008787	−0.046%	$460K	$2.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008780	−0.125%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008781	−0.114%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008786	−0.058%	$188K	$474K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008780	−0.125%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008777	−0.159%	$36.5M	$155.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008772	−0.216%	$22.9M	$37.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008775	−0.182%	$7.6M	$47.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008780	−0.125%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008780	−0.125%	$12.4M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008779	−0.137%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008784	−0.080%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008773	−0.205%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDTlong	+0.0100%	1h	0.008791	long leg	$80K	$254K	50x
Nado PENGU-PERP	+0.0100%	1h	0.008781	−0.108%	$698K	$778K	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008984	+2.195%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008778	−0.148%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008809	+0.205%	$90K	$300K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008773	−0.201%	$180K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008779	−0.137%	$203K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008776	−0.166%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008788	−0.034%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0497% / S −0.0683%	1h	0.008779	−0.137%	$111K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008799	+0.091%	$94K	$104K	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.1686%	1h	0.008799	+0.091%	$18K	$10K	10x	as long as short