PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0236%/8h= +25.8% APRnext payment +$1.18 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against Bybit+0.091%7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$640.645% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.113%+$11 on $10k

Price spread, last 7 days−0.079%−$8 · spread now +0.091%, 7d avg +0.064%

Together, before fees+0.034%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and KuCoin is 0.027% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.064%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.113% in total (about 5.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.18 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	Bybit PENGUUSDT	0.008779	−0.0136	get 0.0068% / 4h	1h 32m	$22.8M	$36.3M	75x
Short	KuCoin PENGUUSDTM	0.008787	0.0100	get 0.0050% / 4h	1h 32m	$4.7M	$8.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bybit. 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 BybitbpFee KuCoinbpOrdersPrice spread, now +0.091%Rate

Funding earned: $49.56
Price spread: +0.091% → +0.064%: $2.73
Slippage, 4 orders: −$41.46
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$12.17
Costs to cover: 0.645%
Break-even: 8.7 days

Slippage from Bybit: live order book, 1 min ago; KuCoin: live order book, 5 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 Bybit live order book, 1 min ago	0.57 bp	11.8 bp −$12	26.7 bp −$267	127.3 bp −$12.7K	doesn't fit
Sell KuCoin live order book, 5 min ago	1.13 bp	24.7 bp −$25	57.8 bp −$578	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	−0.0606%	1h	0.008793	+0.154%	$370K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0330%	4h	0.008779	0.000%	$3.4M	$15.5M	75x	as long as short
Bybit PENGUUSDTlong	−0.0136%	4h	0.008779	long leg	$22.8M	$36.3M	75x
Deribit PENGU_USDC-PERPETUAL	−0.0091%	1h	0.008791	+0.137%	$19K	$9K	10x	as long as short
01 Exchange PENGUUSD	−0.0080%	1h	0.008801	+0.251%	$201	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008794	+0.175%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	−0.729%	$3K	$81K	5.5x	as long as short
Variational Omni PENGU	+0.0054%	4h	0.008794	+0.176%	$836K	$768K	—	as long as short
Lighter PENGU	+0.0096%	1h	0.008787	+0.091%	$308K	$735K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008792	+0.142%	$680K	$757K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008791	+0.137%	$8.7M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008790	+0.126%	$189K	$466K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008802	+0.262%	$151K	$238K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008785	+0.068%	$36.6M	$152.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008784	+0.057%	$7.7M	$47.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	+0.239%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008786	+0.080%	$12.7M	$12.7M	125x	as long as short
KuCoin PENGUUSDTMshort	+0.0100%	4h	0.008787	+0.091%	$4.7M	$8.9M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008788	+0.103%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008781	+0.023%	—	$3.9M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008786	+0.080%	$313K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008791	+0.142%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008799	+0.228%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008791	+0.137%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009001	+2.529%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008784	+0.057%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008816	+0.421%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008780	+0.011%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008785	+0.068%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0126%	1h	0.008805	+0.295%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008786	+0.080%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008783	+0.046%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0711%	1h	0.008794	+0.171%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	+1.891%	$95K	$105K	50x	as long as short