Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against KuCoin+0.046%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$700.697% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)+0.340%+$34 · spread now +0.046%, 7d avg +0.026%

Together, before fees+0.331%+$33 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: ApeX Omni is 0.020% dearer against KuCoin than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENGUUSDTM	0.008739	0.0100	pay 0.0050% / 4h	1h 33m	$4.8M	$9.1M	75x
Short	ApeX Omni PENGUUSDT	0.008743	0.0100	get 0.0013% / 1h	33m 32s	$80K	$243K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now +0.046%Rate

Funding earned: $0
Price spread: +0.046% → +0.026%: $2.01
Slippage, 4 orders: −$47.71
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$67.7
Costs to cover: 0.697%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; ApeX Omni: live order book, 28 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, 5 min ago	1.15 bp	14.4 bp −$14	56.5 bp −$565	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 28 min ago	7.39 bp	15.8 bp −$16	101.6 bp −$1,016	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	−0.0208%	1h	0.008722	−0.195%	$18K	$10K	10x	as long as short
01 Exchange PENGUUSD	−0.0048%	1h	0.008744	+0.057%	$200	$64	5x	as long as short
Gate PENGU_USDT	−0.0024%	4h	0.008737	−0.023%	$3.3M	$15.6M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008725	−0.160%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.572%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008736	−0.034%	$310K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008726	−0.149%	$22K	$166K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008733	−0.069%	$8.1M	$14.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008732	−0.085%	$121K	$577K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008740	+0.011%	$154K	$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	0.008747	+0.092%	$36.5M	$160.1M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008742	+0.034%	$23.2M	$38.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008748	+0.103%	$7.5M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	+0.011%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008737	−0.023%	$11.5M	$12.4M	125x	as long as short
KuCoin PENGUUSDTMlong	+0.0100%	4h	0.008739	long leg	$4.8M	$9.1M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008744	+0.057%	$8.2M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008726	−0.149%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008725	−0.160%	$299K	$275K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008738	−0.014%	$868K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008744	+0.055%	$467K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDTshort	+0.0100%	1h	0.008743	+0.046%	$80K	$243K	50x
Nado PENGU-PERP	+0.0100%	1h	0.008740	+0.011%	$586K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008925	+2.128%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008724	−0.172%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008738	−0.011%	$91K	$349K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008738	−0.017%	$180K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008715	−0.275%	$201K	—	3x	as long as short
dYdX PENGU-USD	+0.0199%	1h	0.008730	−0.100%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008722	−0.193%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008744	+0.057%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0582%	1h	0.008725	−0.160%	$119K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0651%	1h	0.008733	−0.070%	$354K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.609%	$95K	$94K	50x	as long as short