Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.004%

Price spread now: KuCoin against Nado+0.028%7-day average +0.017% · 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−$59as in the Price arb table

costs, in and out, $10k−$600.597% of the position

Long on Nado Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.068%+$7 on $10k

Price spread, last 3 days (all we have)−0.334%−$33 · spread now +0.028%, 7d avg +0.017%

Together, before fees−0.266%+ Points / potential airdropNado: Active · farm board−$27 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PENGU-PERP	0.008800	0.0100	pay 0.0013% / 1h	29m 05s	$681K	$757K	5x
Short	KuCoin PENGUUSDTM	0.008803	0.0100	get 0.0050% / 4h	1h 29m	$4.8M	$8.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → +0.017%: $1.12
Slippage, 4 orders: −$40.73
Fee Nado: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$58.61
Costs to cover: 0.597%
Break-even: never at this rate

Slippage from Nado: live order book, 54 min ago; KuCoin: live order book, 4 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, 54 min ago	1.72 bp	7.5 bp −$8	22.3 bp −$223	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	1.14 bp	19.4 bp −$19	46.9 bp −$469	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	−0.0605%	1h	0.008816	+0.173%	$372K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0320%	4h	0.008803	+0.028%	$3.5M	$15.5M	75x	as long as short
Bybit PENGUUSDT	−0.0136%	4h	0.008801	+0.006%	$22.9M	$36.3M	75x	as long as short
01 Exchange PENGUUSD	−0.0088%	1h	0.008805	+0.051%	$201	$59	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008810	+0.108%	$19K	$9K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008802	+0.014%	$33K	—	150x	as long as short
Variational Omni PENGU	+0.0017%	4h	0.008778	−0.251%	$801K	$802K	—	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	−0.972%	$3K	$81K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008811	+0.119%	$309K	$735K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008808	+0.085%	$8.7M	$15.0M	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008801	+0.006%	$189K	$466K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008791	−0.108%	$151K	$238K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008808	+0.085%	$36.7M	$152.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008806	+0.062%	$7.7M	$47.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	−0.006%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008811	+0.119%	$12.8M	$12.8M	125x	as long as short
KuCoin PENGUUSDTMshort	+0.0100%	4h	0.008803	+0.028%	$4.8M	$8.9M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008808	+0.085%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008805	+0.051%	—	$3.9M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008807	+0.074%	$314K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008777	−0.268%	$459K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008788	−0.142%	$80K	$253K	50x	as long as short
Nado PENGU-PERPlong	+0.0100%	1h	0.008800	long leg	$681K	$757K	5x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008809	+0.097%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009010	+2.381%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008807	+0.074%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008819	+0.210%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008803	+0.033%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008805	+0.051%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0132%	1h	0.008795	−0.064%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008792	−0.102%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008804	+0.040%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0711%	1h	0.008801	+0.006%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	+1.642%	$95K	$105K	50x	as long as short