PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0215%/8h= +23.5% APRnext payment +$0.27 per $10,000 · paid last 24h +0.007%

Price spread now: Kraken Futures against Nado+0.030%46s7-day average +0.105% · you sell dearer than you buy

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−$590.593% of the position

Long on Nado Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.058%+$6 on $10k

Price spread, last 4 days (all we have)+0.148%+$15 · spread now +0.030%, 7d avg +0.105%

Together, before fees+0.207%+ Points / potential airdropNado: Active · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.075% cheaper against Nado than usual: you would sell low and buy high (spread +0.030% now, against its 7-day average of +0.105%). If the spread goes back, that is −$8 on $10k: about 28 hours of funding at the current rate (+$6 a day). At the pace of the last 3 days (+0.058% in total) that is about 4.5 days. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.058% in total (about 6.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.27 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PENGU-PERP	0.008963	0.0100	pay 0.0012% / 1h	15m 27s	$609K	$1.1M	5x
Short	Kraken Futures PF_PENGUUSD	0.008966	0.0315	get 0.0039% / 1h	15m 27s	$328K	$2.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.030%Rate

Funding earned: $45.14
Price spread: +0.030% → +0.105%: −$7.51
Slippage, 4 orders: −$42.26
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$21.63
Costs to cover: 0.593%
Break-even: 10.4 days

Slippage from Nado: live order book, 3 min ago; Kraken Futures: live order book, 3 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, 3 min ago	1.69 bp	9.9 bp −$10	26.6 bp −$266	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	7.87 bp	15.7 bp −$16	43.3 bp −$433	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	0.008961	−0.031%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.947%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008981	+0.195%	$325K	$750K	8x	as long as short
Nado PENGU-PERPlong	+0.0100%	1h	0.008963	long leg	$609K	$1.1M	5x
Hyperliquid PENGU	+0.0100%	1h	0.008972	+0.095%	$8.3M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008969	+0.063%	$123K	$684K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008972	+0.095%	$136K	$273K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008966	+0.028%	$37.9M	$179.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008959	−0.050%	$23.7M	$42.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008961	−0.028%	$7.6M	$52.3M	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	0.008970	+0.073%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008959	−0.050%	$3.3M	$16.7M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008966	+0.028%	$10.7M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008966	+0.028%	$5.0M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008968	+0.050%	$8.5M	$13.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008967	+0.039%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008965	+0.017%	$293K	$344K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008940	−0.262%	$934K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008883	−0.901%	$466K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008867	−1.077%	$80K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008964	+0.006%	$23K	$178K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009171	+2.315%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008958	−0.061%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008922	−0.463%	$93K	$392K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008961	−0.027%	$185K	$876K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008950	−0.151%	$207K	—	3x	as long as short
dYdX PENGU-USD	+0.0194%	1h	0.008969	+0.067%	$12K	$6K	5x	as long as short
01 Exchange PENGUUSD	+0.0208%	1h	0.008968	+0.050%	$205	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008962	−0.014%	$303	—	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0309%	1h	0.008956	−0.084%	$14K	$15K	10x	as long as short
Kraken Futures PF_PENGUUSDshort	+0.0315%	1h	0.008966	+0.030%	$328K	$2.5M	50x
BloFin PENGU-USDT	+0.0340%	4h	0.008878	−0.954%	$1.5M	$4.7M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0517% / S −0.0482%	1h	0.008958	−0.061%	$127K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.009053	+0.998%	$80K	$79K	50x	as long as short