Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against ApeX Omni+0.452%52s7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$840.842% of the position

Long on ApeX Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 4 days (all we have)−1.249%−$125 · spread now +0.452%, 7d avg −0.022%

Together, before fees−1.239%−$124 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.475% dearer against ApeX Omni than usual: you sell high and buy low, +$47 on $10k if it goes back to its 7-day average of −0.022%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PENGUUSDT	0.009068	0.0100	pay 0.0013% / 1h	52m 38s	$80K	$252K	50x
Short	KuCoin PENGUUSDTM	0.009109	0.0100	get 0.0050% / 4h	3h 52m	$5.0M	$10.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.452%Rate

Funding earned: $0
Price spread: +0.452% → −0.022%: $47.46
Slippage, 4 orders: −$62.16
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$36.7
Costs to cover: 0.842%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 44 min ago; KuCoin: live order book, 6 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, 44 min ago	4.91 bp	14.0 bp −$14	99.1 bp −$991	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	1.66 bp	25.2 bp −$25	52.9 bp −$529	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009089	+0.232%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.077%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0044%	4h	0.009130	+0.684%	$3.8M	$17.5M	75x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009117	+0.540%	$647K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009117	+0.540%	$9.3M	$16.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009116	+0.529%	$143K	$739K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009116	+0.529%	$138K	$270K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009121	+0.584%	$40.1M	$196.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009113	+0.496%	$24.6M	$46.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009118	+0.551%	$8.2M	$57.9M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.009110	+0.463%	$18K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009122	+0.596%	$11.4M	$12.8M	125x	as long as short
KuCoin PENGUUSDTMshort	+0.0100%	4h	0.009109	+0.452%	$5.0M	$10.5M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.009143	+0.827%	$8.8M	$15.0M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009136	+0.750%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009122	+0.596%	$313K	$388K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009070	+0.022%	$936K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009087	+0.207%	$479K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDTlong	+0.0100%	1h	0.009068	long leg	$80K	$252K	50x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009127	+0.651%	$23K	$316K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009346	+3.066%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009127	+0.651%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009135	+0.739%	$95K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009138	+0.769%	$187K	$743K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009124	+0.618%	$211K	—	3x	as long as short
dYdX PENGU-USD	+0.0135%	1h	0.009107	+0.427%	$12K	$6K	5x	as long as short
Lighter PENGU	+0.0136%	1h	0.009116	+0.529%	$329K	$747K	8x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009123	+0.603%	$308	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009125	+0.629%	$1.6M	$5.1M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0378%	1h	0.009129	+0.676%	$352K	$2.6M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0407%	1h	0.009133	+0.717%	$1K	$29K	10x	as long as short
01 Exchange PENGUUSD	+0.0432%	1h	0.009151	+0.915%	$209	$41	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0432% / S −0.0351%	1h	0.009119	+0.562%	$104K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2088%	1h	0.009211	+1.577%	$81K	$74K	50x	as long as short