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 HTX−0.240%7-day average −0.253% · you buy dearer than you sell

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs−$110as in the Price arb table

costs, in and out, $10k−$1121.115% of the position

Long on HTX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.217%−$22 on $10k

Price spread, last 4 days (all we have)−0.026%−$3 · spread now −0.240%, 7d avg −0.253%

Together, before fees−0.243%−$24 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PENGU-USDT	0.008737	0.0100	pay 0.0050% / 4h	1h 40m	$91K	$348K	25x
Short	KuCoin PENGUUSDTM	0.008716	0.0100	get 0.0050% / 4h	1h 40m	$4.8M	$9.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against HTX. 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 HTXbpFee KuCoinbpOrdersPrice spread, now −0.240%Rate

Funding earned: $0
Price spread: −0.240% → −0.253%: $1.29
Slippage, 4 orders: −$87.53
Fee HTX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$110.24
Costs to cover: 1.115%
Break-even: never at this rate

Slippage from HTX: live order book, 22 min ago; KuCoin: live order book, 3 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 HTX live order book, 22 min ago	14.73 bp	50.2 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 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	−0.0209%	1h	0.008720	−0.195%	$18K	$10K	10x	as long as short
01 Exchange PENGUUSD	−0.0024%	1h	0.008725	−0.137%	$200	$64	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008720	−0.200%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0008%	4h	0.008715	−0.252%	$3.3M	$15.6M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.595%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008722	−0.172%	$310K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008724	−0.149%	$23K	$165K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008718	−0.217%	$585K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008719	−0.206%	$8.1M	$14.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008722	−0.172%	$131K	$577K	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	0.008721	−0.183%	$153K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008718	−0.222%	$36.4M	$159.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008714	−0.263%	$23.2M	$38.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008717	−0.229%	$7.5M	$46.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008720	−0.195%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008717	−0.229%	$11.5M	$12.3M	125x	as long as short
KuCoin PENGUUSDTMshort	+0.0100%	4h	0.008716	−0.240%	$4.8M	$9.1M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008721	−0.183%	$8.2M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008710	−0.309%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008717	−0.229%	$299K	$275K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008712	−0.288%	$866K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008753	+0.188%	$457K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008758	+0.240%	$80K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008921	+2.106%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008717	−0.229%	$1K	$5K	5x	as long as short
HTX PENGU-USDTlong	+0.0100%	4h	0.008737	long leg	$91K	$348K	25x
Extended PENGU-USD	+0.0104%	1h	0.008715	−0.257%	$180K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008710	−0.309%	$201K	—	3x	as long as short
dYdX PENGU-USD	+0.0192%	1h	0.008715	−0.249%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008717	−0.233%	$294	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008710	−0.309%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0582%	1h	0.008719	−0.206%	$119K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0652%	1h	0.008724	−0.144%	$356K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.632%	$95K	$94K	50x	as long as short