Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0312%/8h= +34.2% APRpaid last 24h −0.086%

Price spread now: Kraken Futures against BloFin+0.019%7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$500.501% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.410%−$41 on $10k

Price spread, last 4 days (all we have)−0.155%−$15 · spread now +0.019%, 7d avg +0.073%

Together, before fees−0.565%−$56 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.054% cheaper against BloFin than usual: you would sell low and buy high (spread +0.019% now, against its 7-day average of +0.073%). If the spread goes back, that is −$5 on $10k: about 14 hours of funding at the current rate (+$9 a day). Mind the row above: over the last 7 days funding on this pair cost −0.410%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENGU-USDT	0.008719	0.0340	pay 0.0170% / 4h	1h 36m	$1.5M	$3.3M	75x
Short	Kraken Futures PF_PENGUUSD	0.008721	0.0652	get 0.0082% / 1h	36m 48s	$355K	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.019%Rate

Funding earned: $65.57
Price spread: +0.019% → +0.073%: −$5.42
Slippage, 4 orders: −$28.08
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $10.07
Costs to cover: 0.501%
Break-even: 5.9 days

Slippage from BloFin: live order book, 7 min ago; Kraken Futures: live order book, 2 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 BloFin live order book, 7 min ago	0.57 bp	7.7 bp −$8	10.0 bp −$100	40.3 bp −$4,035	doesn't fit
Sell Kraken Futures live order book, 2 min ago	6.88 bp	14.2 bp −$14	49.1 bp −$491	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	−0.0094%	1h	0.008717	−0.023%	$18K	$10K	10x	as long as short
01 Exchange PENGUUSD	−0.0040%	1h	0.008717	−0.023%	$199	$64	5x	as long as short
Gate PENGU_USDT	−0.0002%	4h	0.008713	−0.069%	$3.3M	$15.6M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008724	+0.053%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.803%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008735	+0.184%	$310K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008717	−0.023%	$22K	$166K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008720	+0.011%	$8.1M	$14.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008722	+0.034%	$120K	$577K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008709	−0.115%	$153K	$243K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008718	−0.011%	$36.4M	$159.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008719	0.000%	$23.2M	$38.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008724	+0.057%	$7.5M	$46.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008710	−0.103%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008716	−0.034%	$11.5M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008714	−0.057%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008724	+0.057%	$8.2M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008716	−0.034%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008721	+0.023%	$299K	$275K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008712	−0.083%	$866K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008709	−0.119%	$465K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008700	−0.218%	$80K	$243K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008724	+0.057%	$585K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008920	+2.305%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008716	−0.034%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008739	+0.229%	$91K	$348K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008716	−0.039%	$179K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008715	−0.046%	$201K	—	3x	as long as short
dYdX PENGU-USD	+0.0187%	1h	0.008704	−0.176%	$11K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008721	+0.019%	$294	—	10x	as long as short
BloFin PENGU-USDTlong	+0.0340%	4h	0.008719	long leg	$1.5M	$3.3M	75x
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0582%	1h	0.008723	+0.046%	$118K	—	100x	as long as short
Kraken Futures PF_PENGUUSDshort	+0.0652%	1h	0.008721	+0.019%	$355K	$2.3M	50x
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.844%	$95K	$94K	50x	as long as short