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% APRpaid last 24h +0.003%

Price spread now: HTX against Nado−0.232%7-day average +0.292% · 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−$208as in the Price arb table

costs, in and out, $10k−$1561.559% of the position

Long on Nado Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.078%+$8 on $10k

Price spread, last 4 days (all we have)+0.540%+$54 · spread now −0.232%, 7d avg +0.292%

Together, before fees+0.619%+ Points / potential airdropNado: Active · farm board+$62 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: HTX is 0.524% cheaper against Nado than usual: you would sell low and buy high, −$52 on $10k if it goes back to its 7-day average of +0.292%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PENGU-PERP	0.008726	0.0100	pay 0.0013% / 1h	44m 29s	$585K	$1.0M	5x
Short	HTX PENGU-USDT	0.008706	0.0100	get 0.0050% / 4h	44m 29s	$91K	$372K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.232%Rate

Funding earned: $0
Price spread: −0.232% → +0.292%: −$52.41
Slippage, 4 orders: −$136.91
Fee Nado: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$208.32
Costs to cover: 1.559%
Break-even: never at this rate

Slippage from Nado: live order book, 4 min ago; HTX: live order book, 13 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, 4 min ago	1.15 bp	9.1 bp −$9	25.3 bp −$253	doesn't fit	doesn't fit
Sell HTX live order book, 13 min ago	15.46 bp	115.6 bp −$116	doesn't fit	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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008698	−0.324%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008697	−0.336%	$32K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0024%	1h	0.008728	+0.020%	$200	$64	5x	as long as short
Gate PENGU_USDT	+0.0024%	4h	0.008719	−0.083%	$3.3M	$15.6M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.719%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008721	−0.060%	$310K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008698	−0.324%	$23K	$128K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008701	−0.289%	$8.1M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008709	−0.201%	$120K	$579K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008718	−0.095%	$153K	$241K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008731	+0.054%	$36.3M	$161.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008726	−0.003%	$23.0M	$39.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008728	+0.020%	$7.2M	$46.6M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008730	+0.043%	$19K	$23K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008721	−0.060%	$11.0M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008704	−0.255%	$4.8M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008731	+0.054%	$8.2M	$12.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008723	−0.037%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008697	−0.335%	$297K	$295K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008693	−0.382%	$863K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008670	−0.644%	$462K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008685	−0.473%	$79K	$243K	50x	as long as short
Nado PENGU-PERPlong	+0.0100%	1h	0.008726	long leg	$585K	$1.0M	5x
SunX PENGU-USDT	+0.0100%	4h	0.008910	+2.106%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008693	−0.381%	$1K	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.008706	−0.232%	$91K	$372K	25x
Extended PENGU-USD	+0.0104%	1h	0.008725	−0.012%	$179K	$946K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008691	−0.404%	$201K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008730	+0.043%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008698	−0.324%	$1.5M	$3.5M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0368%	1h	0.008696	−0.351%	$340K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0381%	1h	0.008710	−0.188%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0494% / S −0.0419%	1h	0.008697	−0.335%	$124K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008712	−0.163%	$93K	$59K	50x	as long as short