PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0214%/8h= −23.4% APRnext payment −$0.27 per $10,000 · paid last 24h −0.003%

Price spread now: Aevo against Kraken Futures−0.200%7-day average −0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs−$203as in the Funding arb table

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

costs, in and out, $10k−$1951.953% of the position

Long on Kraken Futures Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days−0.081%−$8 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now −0.200%, 7d avg −0.117%

Together, before fees−0.055%−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Aevo is 0.083% cheaper against Kraken Futures than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.117%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.081% in total (about -4.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.27 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	Kraken Futures PF_PENGUUSD	0.008878	0.0318	pay 0.0040% / 1h	19m 22s	$324K	$2.4M	50x
Short	Aevo PENGU-PERP	0.008860	0.0104	get 0.0013% / 1h	19m 22s	$205K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Kraken Futures. 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 Kraken FuturesbpFee AevobpOrdersPrice spread, now −0.200%Rate

Funding earned: −$44.96
Price spread: −0.200% → −0.117%: −$8.3
Slippage, 4 orders: −$169.26
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$248.52
Costs to cover: 1.953%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; Aevo: live order book, 30 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 Kraken Futures live order book, 4 min ago	3.43 bp	20.7 bp −$21	51.5 bp −$515	doesn't fit	doesn't fit
Sell Aevo live order book, 30 min ago	68.10 bp	76.1 bp −$76	doesn't fit	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008872	−0.060%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.000%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0088%	1h	0.008870	−0.088%	$16K	$13K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008884	+0.070%	$322K	$750K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008882	+0.047%	$602K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008881	+0.036%	$8.2M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008874	−0.041%	$122K	$667K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008876	−0.020%	$135K	$273K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008880	+0.022%	$37.5M	$177.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008869	−0.099%	$23.5M	$42.0M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008873	−0.054%	$7.5M	$51.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008880	+0.025%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008873	−0.054%	$3.3M	$16.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008876	−0.020%	$10.5M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008877	−0.009%	$4.9M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008873	−0.054%	$8.5M	$13.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008872	−0.065%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008864	−0.155%	$292K	$338K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008816	−0.696%	$920K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008765	−1.268%	$458K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008756	−1.372%	$79K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008876	−0.020%	$23K	$175K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009087	+2.357%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008871	−0.076%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008868	−0.110%	$92K	$392K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008867	−0.125%	$183K	$876K	10x	as long as short
Aevo PENGU-PERPshort	+0.0104%	1h	0.008860	−0.200%	$205K	—	3x
dYdX PENGU-USD	+0.0171%	1h	0.008877	−0.007%	$12K	$6K	5x	as long as short
01 Exchange PENGUUSD	+0.0192%	1h	0.008884	+0.070%	$203	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008874	−0.046%	$300	—	10x	as long as short
Kraken Futures PF_PENGUUSDlong	+0.0318%	1h	0.008878	long leg	$324K	$2.4M	50x
BloFin PENGU-USDT	+0.0340%	4h	0.008841	−0.414%	$1.5M	$4.7M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0503% / S −0.0466%	1h	0.008870	−0.088%	$123K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008872	−0.065%	$78K	$77K	50x	as long as short