Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: ApeX Omni against Nado−0.060%61s7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$490.488% of the position

Long on Nado Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.068%+$7 on $10k

Price spread, last 4 days (all we have)−0.559%−$56 · spread now −0.060%, 7d avg +0.046%

Together, before fees−0.491%+ Points / potential airdropNado: Active · farm board−$49 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 0.106% cheaper against Nado than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.046%. The two prices were read 61 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	Nado PENGU-PERP	0.009139	0.0100	pay 0.0012% / 1h	42m 27s	$644K	$1.1M	5x
Short	ApeX Omni PENGUUSDT	0.009134	0.0100	get 0.0013% / 1h	42m 27s	$80K	$252K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Nado. 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 NadobpFee ApeX OmnibpOrdersPrice spread, now −0.060%Rate

Funding earned: $0
Price spread: −0.060% → +0.046%: −$10.6
Slippage, 4 orders: −$31.83
Fee Nado: 3.5 bp × 2 orders: −$7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$59.43
Costs to cover: 0.488%
Break-even: 54033880907694.2 days

Slippage from Nado: live order book, 1 min ago; ApeX Omni: live order book, 59 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 Nado live order book, 1 min ago	1.10 bp	9.3 bp −$9	33.2 bp −$332	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 59 min ago	6.06 bp	14.1 bp −$14	106.4 bp −$1,064	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009122	−0.193%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.835%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009161	+0.235%	$330K	$771K	8x	as long as short
Nado PENGU-PERPlong	+0.0100%	1h	0.009139	long leg	$644K	$1.1M	5x
Hyperliquid PENGU	+0.0100%	1h	0.009133	−0.071%	$9.2M	$16.4M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009140	+0.009%	$144K	$715K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009151	+0.126%	$138K	$264K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009140	+0.002%	$39.9M	$191.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009138	−0.016%	$24.5M	$44.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009140	+0.005%	$8.0M	$56.1M	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	0.009150	+0.115%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009144	+0.049%	$3.7M	$17.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009154	+0.159%	$11.0M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009123	−0.181%	$5.0M	$10.3M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009149	+0.104%	$8.8M	$14.1M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009142	+0.027%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009125	−0.159%	$296K	$371K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009112	−0.304%	$928K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009128	−0.126%	$483K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDTshort	+0.0100%	1h	0.009134	−0.060%	$80K	$252K	50x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009121	−0.202%	$23K	$266K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009357	+2.380%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009118	−0.235%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009155	+0.170%	$95K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009143	+0.042%	$187K	$742K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009121	−0.202%	$211K	—	3x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0188%	1h	0.009128	−0.126%	$1K	$29K	10x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009142	+0.023%	$309	—	10x	as long as short
01 Exchange PENGUUSD	+0.0320%	1h	0.009143	+0.038%	$209	$41	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009130	−0.104%	$1.6M	$5.0M	75x	as long as short
dYdX PENGU-USD	+0.0378%	1h	0.009150	+0.117%	$12K	$6K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0434% / S −0.0352%	1h	0.009125	−0.159%	$105K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0535%	1h	0.009125	−0.160%	$342K	$2.6M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1928%	1h	0.009196	+0.618%	$81K	$74K	50x	as long as short