PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0160%/8h= −17.5% APRnext payment −$0.20 per $10,000 · paid last 24h −0.027%

Price spread now: Nado against Kraken Futures−0.069%7-day average −0.101% · 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−$55as in the Price arb table

costs, in and out, $10k−$580.581% of the position

Long on Kraken Futures Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.078%−$8 on $10k

Price spread, last 4 days (all we have)−0.122%−$12 · spread now −0.069%, 7d avg −0.101%

Together, before fees−0.200%+ Points / potential airdropNado: Active · farm board−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.033% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.069% now, against its 7-day average of −0.101%): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 4 days (−0.078% in total) that is about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_PENGUUSD	0.008862	0.0260	pay 0.0032% / 1h	51m 56s	$337K	$2.7M	50x
Short	Nado PENGU-PERP	0.008855	0.0100	get 0.0013% / 1h	51m 56s	$599K	$1.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpOrdersPrice spread, now −0.069%Rate

Funding earned: −$33.6
Price spread: −0.069% → −0.101%: $3.27
Slippage, 4 orders: −$41.13
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$88.46
Costs to cover: 0.581%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Nado: live order book, 5 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, 5 min ago	2.26 bp	20.1 bp −$20	41.1 bp −$411	doesn't fit	doesn't fit
Sell Nado live order book, 5 min ago	1.13 bp	7.2 bp −$7	21.9 bp −$219	doesn't fit	doesn't fit

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	0.008853	−0.096%	$19K	$21K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008857	−0.052%	$1K	$27K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008855	−0.074%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.819%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008859	−0.029%	$317K	$719K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008861	−0.007%	$8.5M	$17.5M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008847	−0.160%	$110K	$833K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008857	−0.052%	$132K	$221K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008843	−0.213%	$37.9M	$197.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008840	−0.244%	$23.7M	$47.8M	75x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008842	−0.221%	$8.3M	$55.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008860	−0.018%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008842	−0.221%	$3.6M	$18.2M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008850	−0.131%	$12.1M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008855	−0.074%	$5.3M	$10.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008853	−0.097%	$8.5M	$14.0M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008841	−0.232%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008854	−0.086%	$296K	$392K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008859	−0.028%	$877K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008867	+0.061%	$468K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008873	+0.129%	$80K	$247K	50x	as long as short
Nado PENGU-PERPshort	+0.0100%	1h	0.008855	−0.069%	$599K	$1.1M	5x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008855	−0.074%	$23K	$357K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009068	+2.329%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008856	−0.063%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008862	+0.005%	$92K	$360K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008845	−0.182%	$179K	$741K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008855	−0.074%	$205K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0160%	1h	0.008857	−0.052%	$203	$141	5x	as long as short
Reya PENGURUSDPERP	+0.0242%	1h	0.008853	−0.093%	$299	—	10x	as long as short
Kraken Futures PF_PENGUUSDlong	+0.0260%	1h	0.008862	long leg	$337K	$2.7M	50x
BloFin PENGU-USDT	+0.0340%	4h	0.008852	−0.108%	$1.6M	$5.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0430% / S −0.0359%	1h	0.008855	−0.074%	$103K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1760%	1h	0.008982	+1.359%	$82K	$89K	50x	as long as short