Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.028%

Price spread now: KuCoin against gTrade (Gains Network)+0.087%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.087% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PENGU/USD	0.009035	L +0.0007% / S −0.0003%	pay 0.0001% / 1h	9m 17s	$33K	—	150x
Short	KuCoin PENGUUSDTM	0.009043	0.0100	get 0.0050% / 4h	9m 17s	$5.1M	$10.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee KuCoinbpOrdersPrice spread, now +0.087%Rate

Funding earned: $19.52
Price spread: +0.087% → 0.000%: $8.74
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $6.27
Costs to cover: 0.220%
Break-even: 4.8 days

Slippage unknown: gTrade (Gains Network): no order-book sample; KuCoin: live order book, 2 min ago. Net counts fees only.

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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 2 min ago	1.66 bp	22.2 bp −$22	52.9 bp −$529	doesn't fit	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

PENGU on 34 exchanges

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
dYdX PENGU-USD	0.0000%	1h	0.009046	+0.116%	$20K	$21K	5x	as long as short
gTrade (Gains Network) PENGU/USDlong	L +0.0007% / S −0.0003%	1h	0.009035	long leg	$33K	—	150x
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.724%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0082%	1h	0.009039	+0.043%	$1K	$27K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.009051	+0.176%	$321K	$724K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009042	+0.076%	$625K	$1.2M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009053	+0.198%	$9.5M	$18.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009046	+0.119%	$121K	$847K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009050	+0.165%	$128K	$229K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009041	+0.065%	$38.7M	$199.6M	75x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDT	+0.0100%	4h	0.009032	−0.034%	$24.2M	$48.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009032	−0.034%	$8.3M	$57.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009050	+0.165%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009037	+0.021%	$3.6M	$18.5M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009043	+0.087%	$12.0M	$13.0M	125x	as long as short
KuCoin PENGUUSDTMshort	+0.0100%	4h	0.009043	+0.087%	$5.1M	$10.7M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.009040	+0.054%	$8.7M	$14.0M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009032	−0.034%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009015	−0.222%	$298K	$398K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008994	−0.455%	$893K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009009	−0.289%	$476K	$2.2M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009012	−0.256%	$82K	$245K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009038	+0.032%	$24K	$358K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009257	+2.456%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009010	−0.278%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009030	−0.056%	$93K	$361K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009031	−0.041%	$186K	$1.0M	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009037	+0.021%	$209K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0216%	1h	0.009051	+0.176%	$207	$141	5x	as long as short
Reya PENGURUSDPERP	+0.0242%	1h	0.009036	+0.007%	$305	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0255%	1h	0.009045	+0.105%	$341K	$2.6M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009013	−0.245%	$1.6M	$5.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0437% / S −0.0363%	1h	0.009037	+0.021%	$106K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1760%	1h	0.009061	+0.287%	$83K	$86K	50x	as long as short