Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aevo against KuCoin−0.056%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs−$149as in the Price arb table

costs, in and out, $10k−$1481.481% of the position

Long on KuCoin Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.006%+$1 on $10k

Price spread, last 4 days (all we have)+0.005%$0 · spread now −0.056%, 7d avg −0.048%

Together, before fees+0.011%+$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENGUUSDTM	0.008969	0.0100	pay 0.0050% / 4h	3h 57m	$4.9M	$9.3M	75x
Short	Aevo PENGU-PERP	0.008964	0.0104	get 0.0013% / 1h	57m 09s	$207K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against KuCoin. 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 KuCoinbpFee AevobpOrdersPrice spread, now −0.056%Rate

Funding earned: $0.84
Price spread: −0.056% → −0.048%: −$0.74
Slippage, 4 orders: −$120.07
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$147.98
Costs to cover: 1.481%
Break-even: 1240.1 days

Slippage from KuCoin: live order book, 1 min ago; Aevo: live order book, 62 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 KuCoin live order book, 1 min ago	1.67 bp	35.3 bp −$35	64.3 bp −$643	doesn't fit	doesn't fit
Sell Aevo live order book, 62 min ago	11.44 bp	35.7 bp −$36	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
dYdX PENGU-USD	0.0000%	1h	0.008964	−0.059%	$12K	$5K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008970	+0.011%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008968	−0.011%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.007%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0064%	1h	0.008950	−0.212%	$205	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008971	+0.022%	$319K	$717K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008959	−0.111%	$602K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008970	+0.011%	$8.4M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008967	−0.026%	$129K	$596K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008960	−0.100%	$158K	$243K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008966	−0.033%	$38.3M	$166.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008959	−0.111%	$23.7M	$39.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008958	−0.123%	$7.7M	$48.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008950	−0.212%	$19K	$24K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008961	−0.089%	$3.4M	$15.9M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008968	−0.011%	$10.9M	$12.3M	125x	as long as short
KuCoin PENGUUSDTMlong	+0.0100%	4h	0.008969	long leg	$4.9M	$9.3M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008970	+0.011%	$8.7M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008958	−0.123%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008963	−0.067%	$300K	$330K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008928	−0.458%	$931K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008918	−0.573%	$476K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008916	−0.591%	$81K	$242K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008970	+0.011%	$24K	$86K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009185	+2.408%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008970	+0.011%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008983	+0.156%	$93K	$377K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008967	−0.017%	$185K	$943K	10x	as long as short
Aevo PENGU-PERPshort	+0.0104%	1h	0.008964	−0.056%	$207K	—	3x
Reya PENGURUSDPERP	+0.0239%	1h	0.008962	−0.076%	$303	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008980	+0.123%	$1.5M	$4.0M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0512% / S −0.0477%	1h	0.008969	0.000%	$126K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0610%	1h	0.008978	+0.102%	$351K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.008962	−0.078%	$95K	$60K	50x	as long as short