Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against KuCoin−0.044%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

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

costs, in and out, $10k−$650.653% of the position

Long on KuCoin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 7 days+0.072%+$7 · spread now −0.044%, 7d avg −0.019%

Together, before fees+0.057%+$6 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: Binance is 0.024% cheaper against KuCoin than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENGUUSDTM	0.008687	0.0100	pay 0.0050% / 4h	47m 40s	$4.8M	$9.2M	75x
Short	Binance PENGUUSDT	0.008683	0.0100	get 0.0050% / 4h	47m 40s	$36.1M	$161.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.044%Rate

Funding earned: $0
Price spread: −0.044% → −0.019%: −$2.43
Slippage, 4 orders: −$43.31
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$67.74
Costs to cover: 0.653%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Binance: live order book, 11 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, 6 min ago	1.14 bp	22.3 bp −$22	55.8 bp −$558	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	0.57 bp	6.7 bp −$7	18.7 bp −$187	62.7 bp −$6,272	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	0.0000%	1h	0.008686	−0.012%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008686	−0.014%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0016%	4h	0.008680	−0.081%	$3.3M	$15.6M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+1.174%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0040%	1h	0.008691	+0.046%	$199	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008684	−0.035%	$309K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008686	−0.012%	$23K	$129K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008683	−0.040%	$583K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008682	−0.058%	$8.1M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008685	−0.023%	$120K	$579K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008684	−0.035%	$153K	$241K	5x	as long as short
Binance PENGUUSDTshort	+0.0100%	4h	0.008683	−0.044%	$36.1M	$161.5M	75x
Bybit PENGUUSDT	+0.0100%	4h	0.008680	−0.081%	$22.9M	$39.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008681	−0.069%	$7.2M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008690	+0.035%	$19K	$23K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008683	−0.046%	$11.0M	$12.3M	125x	as long as short
KuCoin PENGUUSDTMlong	+0.0100%	4h	0.008687	long leg	$4.8M	$9.2M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008680	−0.081%	$8.2M	$12.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008675	−0.138%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008683	−0.046%	$296K	$293K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008695	+0.092%	$864K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008741	+0.625%	$459K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008704	+0.196%	$79K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008902	+2.475%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008680	−0.081%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008691	+0.046%	$90K	$372K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008679	−0.090%	$179K	$946K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008682	−0.058%	$201K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008682	−0.058%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008670	−0.196%	$1.5M	$3.5M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0369%	1h	0.008686	−0.008%	$340K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0387%	1h	0.008685	−0.026%	$11K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0494% / S −0.0419%	1h	0.008686	−0.012%	$123K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008967	+3.223%	$95K	$61K	50x	as long as short