Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: Nado against HTX−0.150%7-day average −0.297% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$204as in the Price arb table

costs, in and out, $10k−$2182.183% of the position

Long on HTX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.079%−$8 on $10k

Price spread, last 3 days (all we have)−0.159%−$16 · spread now −0.150%, 7d avg −0.297%

Together, before fees−0.238%+ Points / potential airdropNado: Active · farm board−$24 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.148% dearer against HTX than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.297%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PENGU-USDT	0.008677	0.0100	pay 0.0050% / 4h	2h 47m	$91K	$248K	25x
Short	Nado PENGU-PERP	0.008664	0.0100	get 0.0013% / 1h	47m 31s	$672K	$758K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.150%Rate

Funding earned: $0
Price spread: −0.150% → −0.297%: $14.75
Slippage, 4 orders: −$199.33
Fee HTX: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$203.58
Costs to cover: 2.183%
Break-even: never at this rate

Slippage from HTX: live order book, 39 min ago; Nado: live order book, 40 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, 39 min ago	9.10 bp	15.1 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 40 min ago	1.14 bp	7.4 bp −$7	24.8 bp −$248	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	−0.0552%	1h	0.008665	−0.137%	$384K	$2.1M	50x	as long as short
Bybit PENGUUSDT	−0.0341%	4h	0.008664	−0.150%	$22.7M	$35.7M	75x	as long as short
Gate PENGU_USDT	−0.0336%	4h	0.008662	−0.173%	$3.4M	$15.3M	75x	as long as short
Backpack PENGU_USDC_PERP	−0.0260%	1h	0.008661	−0.184%	$309K	$315K	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0211%	1h	0.008665	−0.138%	$19K	$9K	10x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.438%	$3K	$81K	5.5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008668	−0.104%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008666	−0.130%	$33K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0032%	1h	0.008676	−0.012%	$198	$59	5x	as long as short
ApeX Omni PENGUUSDT	+0.0054%	1h	0.008649	−0.323%	$79K	$254K	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENGU	+0.0096%	1h	0.008665	−0.138%	$294K	$719K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008679	+0.023%	$8.7M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008667	−0.111%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008666	−0.127%	$142K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008672	−0.056%	$35.8M	$150.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008667	−0.115%	$7.7M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008670	−0.081%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008672	−0.058%	$12.8M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008671	−0.069%	$4.7M	$8.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008676	−0.012%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008668	−0.104%	—	$4.0M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008646	−0.363%	$794K	$712K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008654	−0.267%	$453K	$2.4M	10x	as long as short
Nado PENGU-PERPshort	+0.0100%	1h	0.008664	−0.150%	$672K	$758K	5x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008665	−0.138%	$21K	$185K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008864	+2.155%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008661	−0.184%	$983	$5K	5x	as long as short
HTX PENGU-USDTlong	+0.0100%	4h	0.008677	long leg	$91K	$248K	25x
Extended PENGU-USD	+0.0104%	1h	0.008668	−0.101%	$177K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008660	−0.196%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008669	−0.088%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008658	−0.219%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0489% / S −0.0675%	1h	0.008665	−0.138%	$108K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+2.605%	$94K	$97K	50x	as long as short