Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0097%/8h= −10.6% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against KuCoin−0.214%60s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.214% cheaper against KuCoin than usual: you would sell low and buy high (−$21 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 60 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENGUUSDTM	0.009208	0.0100	pay 0.0050% / 4h	3h 02m	$5.2M	$10.7M	75x
Short	gTrade (Gains Network) PENGU/USD	0.009188	L +0.0007% / S −0.0003%	get 0.0000% / 1h	2m 25s	$34K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.214%Rate

Funding earned: −$20.38
Price spread: −0.214% → 0.000%: −$21.41
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$63.79
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 6 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

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	1.09 bp	26.8 bp −$27	61.5 bp −$615	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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/USDshort	L +0.0007% / S −0.0003%	1h	0.009188	−0.214%	$34K	—	150x
Gate PENGU_USDT	+0.0016%	4h	0.009199	−0.098%	$3.8M	$18.4M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−4.550%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009205	−0.033%	$329K	$771K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009211	+0.033%	$9.6M	$16.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009204	−0.043%	$146K	$785K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009203	−0.054%	$140K	$235K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009206	−0.024%	$40.8M	$196.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009195	−0.141%	$24.9M	$47.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009205	−0.033%	$8.4M	$58.6M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.009200	−0.087%	$19K	$26K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009204	−0.043%	$12.1M	$13.2M	125x	as long as short
KuCoin PENGUUSDTMlong	+0.0100%	4h	0.009208	long leg	$5.2M	$10.7M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.009206	−0.022%	$9.0M	$15.1M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009193	−0.163%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009194	−0.152%	$303K	$370K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009164	−0.478%	$947K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009180	−0.305%	$480K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009178	−0.326%	$81K	$252K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009203	−0.052%	$652K	$1.1M	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009206	−0.022%	$24K	$353K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009412	+2.215%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009205	−0.033%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009216	+0.087%	$96K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009195	−0.146%	$189K	$741K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009192	−0.174%	$212K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009186	−0.243%	$310	—	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0294%	1h	0.009193	−0.163%	$1K	$28K	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009194	−0.152%	$1.7M	$5.3M	75x	as long as short
01 Exchange PENGUUSD	+0.0352%	1h	0.009206	−0.022%	$211	$141	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0375%	1h	0.009206	−0.024%	$347K	$2.7M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0433% / S −0.0351%	1h	0.009196	−0.130%	$105K	—	100x	as long as short
dYdX PENGU-USD	+0.1385%	1h	0.009206	−0.019%	$22K	$18K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2088%	1h	0.009232	+0.261%	$79K	$85K	50x	as long as short