Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against BingX+0.068%7-day average +0.104% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$990.989% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 7 days+0.026%+$3 · spread now +0.068%, 7d avg +0.104%

Together, before fees+0.024%+$2 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 0.035% cheaper against BingX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.104%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENGU-USDC	0.008817	0.0100	pay 0.0050% / 4h	3h 39m	—	$2.3M	—
Short	KuCoin PENGUUSDTM	0.008823	0.0100	get 0.0050% / 4h	3h 39m	$4.7M	$9.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BingX. 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 BingXbpFee KuCoinbpOrdersPrice spread, now +0.068%Rate

Funding earned: $0
Price spread: +0.068% → +0.104%: −$3.55
Slippage, 4 orders: −$76.92
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$102.47
Costs to cover: 0.989%
Break-even: never at this rate

Slippage from BingX: live order book, 3 min ago; KuCoin: live order book, 9 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 BingX live order book, 3 min ago	2.84 bp	23.0 bp −$23	63.1 bp −$631	395.2 bp −$39.5K	884.9 bp −$442.5K
Sell KuCoin live order book, 9 min ago	1.14 bp	33.5 bp −$33	60.9 bp −$609	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_PENGUUSD	−0.0391%	1h	0.008851	+0.388%	$371K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0330%	4h	0.008821	+0.045%	$3.4M	$15.5M	75x	as long as short
Variational Omni PENGU	−0.0292%	4h	0.008826	+0.104%	$872K	$931K	—	as long as short
01 Exchange PENGUUSD	−0.0224%	1h	0.008801	−0.181%	$201	$59	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0202%	1h	0.008842	+0.284%	$18K	$10K	10x	as long as short
Bybit PENGUUSDT	0.0000%	4h	0.008819	+0.023%	$23.2M	$37.4M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008844	+0.310%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.318%	$3K	$117K	5.5x	as long as short
Backpack PENGU_USDC_PERP	+0.0040%	1h	0.008841	+0.272%	$310K	$312K	10x	as long as short
dYdX PENGU-USD	+0.0058%	1h	0.008833	+0.178%	$12K	$4K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT PENGU_USDT_Perp	+0.0064%	4h	0.008824	+0.078%	$468K	$2.1M	10x	as long as short
Nado PENGU-PERP	+0.0066%	1h	0.008835	+0.204%	$700K	$772K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008828	+0.125%	$309K	$727K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008845	+0.318%	$24K	$183K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008831	+0.159%	$8.3M	$15.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008841	+0.271%	$189K	$481K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008827	+0.113%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008822	+0.056%	$36.9M	$155.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008813	−0.045%	$7.6M	$47.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008820	+0.034%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008823	+0.068%	$12.4M	$12.6M	125x	as long as short
KuCoin PENGUUSDTMshort	+0.0100%	4h	0.008823	+0.068%	$4.7M	$9.0M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008819	+0.023%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDClong	+0.0100%	4h	0.008817	long leg	—	$2.3M	—
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008789	−0.318%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009047	+2.609%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008840	+0.261%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008859	+0.476%	$91K	$295K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008812	−0.060%	$184K	$847K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008845	+0.318%	$204K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008836	+0.213%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008832	+0.170%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0516% / S −0.0720%	1h	0.008844	+0.306%	$116K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008850	+0.374%	$94K	$103K	50x	as long as short