Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h +0.007%

Price spread now: Kraken Futures against Gate+0.123%7-day average +0.103% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$670.670% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.164%+$16 on $10k

Price spread, last 3 days (all we have)−0.006%−$1 · spread now +0.123%, 7d avg +0.103%

Together, before fees+0.158%+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.103%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.164%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PENGU_USDT	0.008739	−0.0302	get 0.0151% / 4h	6m 39s	$3.4M	$15.7M	75x
Short	Kraken Futures PF_PENGUUSD	0.008750	−0.0342	pay 0.0043% / 1h	6m 39s	$367K	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.123%Rate

Funding earned: −$8.43
Price spread: +0.123% → +0.103%: $1.99
Slippage, 4 orders: −$42.03
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$73.47
Costs to cover: 0.670%
Break-even: never at this rate

Slippage from Gate: live order book, 2 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 Gate live order book, 2 min ago	2.29 bp	13.6 bp −$14	47.4 bp −$474	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	3.43 bp	19.6 bp −$20	37.5 bp −$375	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_PENGUUSDshort	−0.0342%	1h	0.008750	+0.123%	$367K	$2.3M	50x
Bybit PENGUUSDT	−0.0325%	4h	0.008735	−0.046%	$22.8M	$36.9M	75x	as long as short
Variational Omni PENGU	−0.0310%	4h	0.008693	−0.524%	$859K	$927K	—	as long as short
Gate PENGU_USDTlong	−0.0302%	4h	0.008739	long leg	$3.4M	$15.7M	75x
01 Exchange PENGUUSD	−0.0272%	1h	0.008734	−0.057%	$200	$59	5x	as long as short
Backpack PENGU_USDC_PERP	−0.0171%	1h	0.008743	+0.046%	$307K	$315K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.572%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	−0.0022%	1h	0.008730	−0.103%	$693K	$777K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008741	+0.023%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008741	+0.028%	$33K	—	150x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENGU-USD	+0.0017%	1h	0.008738	−0.013%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0082%	4h	0.008733	−0.073%	$457K	$2.1M	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008744	+0.057%	$306K	$741K	8x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008741	+0.023%	$7.5M	$47.0M	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008741	+0.023%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008743	+0.046%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008747	+0.088%	$187K	$474K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008744	+0.057%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008745	+0.063%	$36.2M	$155.1M	75x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	+0.011%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008742	+0.034%	$12.3M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008739	0.000%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008745	+0.069%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008739	0.000%	—	$3.9M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008732	−0.080%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008948	+2.392%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008741	+0.023%	$999	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008755	+0.183%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008744	+0.061%	$179K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008740	+0.011%	$202K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008732	−0.075%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008744	+0.057%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008741	+0.023%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008768	+0.332%	$93K	$103K	50x	as long as short