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 +0.003%

Price spread now: Arcus against Nado−0.098%7-day average — · you buy dearer than you sell

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

Long on Nado Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Arcus is 0.098% cheaper against Nado than usual: you would sell low and buy high, −$10 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PENGU-PERP	0.008929	0.0100	pay 0.0013% / 1h	2m 51s	$600K	$1.0M	5x
Short	Arcus PENGU-USD	0.008920	0.0100	get 0.0013% / 1h	2m 51s	$20K	$24K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now −0.098%Rate

Funding earned: $0
Price spread: −0.098% → 0.000%: −$9.8
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$21.3
Costs to cover: 0.115%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 1 min ago; Arcus: 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 Nado live order book, 1 min ago	1.68 bp	10.1 bp −$10	33.4 bp −$334	doesn't fit	doesn't fit
Sell Arcus no order-book sample	—	—	—	—	—

Arcus: 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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008931	+0.025%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008931	+0.028%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.565%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008932	+0.036%	$318K	$720K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008930	+0.014%	$24K	$93K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008932	+0.036%	$8.3M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008925	−0.039%	$127K	$599K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008899	−0.333%	$157K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008945	+0.178%	$38.1M	$166.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008938	+0.104%	$23.7M	$39.9M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008937	+0.092%	$7.5M	$48.5M	50x	as long as short
Arcus PENGU-USDshort	+0.0100%	1h	0.008920	−0.098%	$20K	$24K	5x
Gate PENGU_USDT	+0.0100%	4h	0.008941	+0.137%	$3.4M	$15.9M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008944	+0.171%	$10.9M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008931	+0.025%	$4.9M	$9.3M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008947	+0.204%	$8.7M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008939	+0.115%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008929	+0.003%	$297K	$326K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008853	−0.849%	$922K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008865	−0.719%	$473K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008876	−0.591%	$80K	$242K	50x	as long as short
Nado PENGU-PERPlong	+0.0100%	1h	0.008929	long leg	$600K	$1.0M	5x
SunX PENGU-USDT	+0.0100%	4h	0.009142	+2.388%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008925	−0.042%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008918	−0.120%	$92K	$377K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008928	−0.003%	$184K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008921	−0.087%	$206K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0112%	1h	0.008924	−0.053%	$204	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008928	−0.006%	$301	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008926	−0.031%	$1.5M	$3.8M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0359%	1h	0.008933	+0.045%	$350K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0431%	1h	0.008896	−0.370%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0572%	1h	0.008930	+0.014%	$120K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008962	+0.372%	$95K	$63K	50x	as long as short