Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Variational Omni against KuCoin−0.217%7-day average −0.052% · you buy dearer than you sell

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

Long on KuCoin Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.015%−$1 on $10k

Price spread, last 3 days (all we have)+0.458%+$46 · spread now −0.217%, 7d avg −0.052%

Together, before fees+0.443%+ Points / potential airdropVariational Omni: Active · farm board+$44 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: Variational Omni is 0.165% cheaper against KuCoin than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENGUUSDTM	0.008666	0.0100	pay 0.0050% / 4h	2h 33m	$4.7M	$8.7M	75x
Short	Variational Omni PENGU	0.008647	0.0100	get 0.0050% / 4h	2h 33m	$794K	$713K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against KuCoin. 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 KuCoinbpFee Variational OmnibpOrdersPrice spread, now −0.217%Rate

Funding earned: $0
Price spread: −0.217% → −0.052%: −$16.49
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$28.49
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 5 min ago; Variational Omni: RFQ quote, 55 min ago. 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, 5 min ago	1.73 bp	19.3 bp −$19	53.7 bp −$537	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 55 min ago	3.95 bp	doesn't fit	18.6 bp −$186	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
Kraken Futures PF_PENGUUSD	−0.0552%	1h	0.008665	−0.012%	$384K	$2.1M	50x	as long as short
Gate PENGU_USDT	−0.0366%	4h	0.008658	−0.092%	$3.4M	$15.4M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0211%	1h	0.008664	−0.023%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0179%	4h	0.008655	−0.127%	$22.4M	$35.9M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.565%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0091%	1h	0.008667	+0.012%	$309K	$315K	10x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008666	+0.004%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008665	−0.011%	$33K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0016%	1h	0.008670	+0.046%	$198	$59	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008668	+0.023%	$295K	$720K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0100%	1h	0.008666	0.000%	$672K	$758K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008669	+0.035%	$8.7M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008671	+0.058%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008669	+0.035%	$143K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008664	−0.019%	$35.8M	$150.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008660	−0.069%	$7.7M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008670	+0.046%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008665	−0.012%	$12.9M	$12.7M	125x	as long as short
KuCoin PENGUUSDTMlong	+0.0100%	4h	0.008666	long leg	$4.7M	$8.7M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008665	−0.012%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008651	−0.173%	—	$2.3M	—	as long as short
Variational Omni PENGUshort	+0.0100%	4h	0.008647	−0.217%	$794K	$713K	—
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008672	+0.068%	$454K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008672	+0.069%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008665	−0.012%	$21K	$184K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008872	+2.377%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008661	−0.058%	$978	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008687	+0.242%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008660	−0.075%	$177K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008660	−0.069%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008663	−0.037%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008675	+0.104%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0489% / S −0.0675%	1h	0.008663	−0.035%	$108K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008785	+1.373%	$92K	$96K	50x	as long as short