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 Bitget+0.149%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$620.615% of the position

Long on Bitget 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−0.239%−$24 · spread now +0.149%, 7d avg −0.033%

Together, before fees−0.241%−$24 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 0.182% dearer against Bitget than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENGUUSDT	0.008733	0.0100	pay 0.0050% / 4h	1h 42m	$8.2M	$12.4M	75x
Short	KuCoin PENGUUSDTM	0.008746	0.0100	get 0.0050% / 4h	1h 42m	$4.8M	$9.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bitget. 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 BitgetbpFee KuCoinbpOrdersPrice spread, now +0.149%Rate

Funding earned: $0
Price spread: +0.149% → −0.033%: $18.21
Slippage, 4 orders: −$37.54
Fee Bitget: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$43.33
Costs to cover: 0.615%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; KuCoin: live order book, 1 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 Bitget live order book, 1 min ago	0.57 bp	11.8 bp −$12	24.1 bp −$241	81.7 bp −$8,170	doesn't fit
Sell KuCoin live order book, 1 min ago	1.14 bp	23.2 bp −$23	54.9 bp −$549	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
Deribit PENGU_USDC-PERPETUAL	−0.0208%	1h	0.008727	−0.069%	$18K	$10K	10x	as long as short
01 Exchange PENGUUSD	−0.0008%	1h	0.008744	+0.126%	$200	$64	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008736	+0.032%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0028%	4h	0.008735	+0.023%	$3.3M	$15.6M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.641%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008737	+0.046%	$310K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008731	−0.023%	$23K	$165K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008738	+0.057%	$586K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008735	+0.023%	$8.1M	$14.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008754	+0.239%	$131K	$576K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008752	+0.218%	$154K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008734	+0.010%	$36.5M	$159.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008733	0.000%	$23.3M	$38.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008730	−0.034%	$7.5M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008750	+0.195%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008739	+0.069%	$11.5M	$12.3M	125x	as long as short
KuCoin PENGUUSDTMshort	+0.0100%	4h	0.008746	+0.149%	$4.8M	$9.1M	75x
Bitget PENGUUSDTlong	+0.0100%	4h	0.008733	long leg	$8.2M	$12.4M	75x
BingX PENGU-USDC	+0.0100%	4h	0.008732	−0.011%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008758	+0.286%	$300K	$275K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008701	−0.367%	$863K	$986K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008688	−0.512%	$455K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008710	−0.263%	$79K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008940	+2.370%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008731	−0.023%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008774	+0.469%	$91K	$348K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008728	−0.055%	$180K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008720	−0.149%	$201K	—	3x	as long as short
dYdX PENGU-USD	+0.0200%	1h	0.008750	+0.193%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008731	−0.026%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008749	+0.183%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0582%	1h	0.008734	+0.011%	$119K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0651%	1h	0.008742	+0.100%	$358K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.679%	$95K	$94K	50x	as long as short