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: SunX against Nado+2.353%48s7-day average +2.745% · you sell dearer than you buy

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

Long on Nado Short on SunX

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)+0.134%+$13 · spread now +2.353%, 7d avg +2.745%

Together, before fees+0.202%+ Points / potential airdropNado: Active · farm board+$20 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: SunX is 0.393% cheaper against Nado than usual: you would sell low and buy high, −$39 on $10k if it goes back to its 7-day average of +2.745%. The two prices were read 48 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	0.008798	0.0100	pay 0.0012% / 1h	35m 19s	$681K	$757K	5x
Short	SunX PENGU-USDT	0.009005	0.0100	get 0.0050% / 4h	1h 35m	$3K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +2.353%Rate

Funding earned: $0
Price spread: +2.353% → +2.745%: −$39.26
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$54.26
Costs to cover: 0.150%
Break-even: 47607926574567.7 days

Slippage unknown: Nado: live order book, 48 min ago; SunX: live order book, 1 min ago. 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, 48 min ago	1.72 bp	7.5 bp −$8	22.3 bp −$223	doesn't fit	doesn't fit
Sell SunX live order book, 1 min ago	251.43 bp	doesn't fit	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
Kraken Futures PF_PENGUUSD	−0.0606%	1h	0.008793	−0.057%	$370K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0328%	4h	0.008793	−0.057%	$3.5M	$15.5M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0205%	1h	0.008795	−0.034%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0125%	4h	0.008792	−0.068%	$22.8M	$36.2M	75x	as long as short
01 Exchange PENGUUSD	−0.0080%	1h	0.008794	−0.045%	$201	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008802	+0.043%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	−0.943%	$3K	$81K	5.5x	as long as short
Variational Omni PENGU	+0.0054%	4h	0.008794	−0.040%	$836K	$768K	—	as long as short
Lighter PENGU	+0.0096%	1h	0.008788	−0.114%	$308K	$735K	8x	as long as short
Nado PENGU-PERPlong	+0.0100%	1h	0.008798	long leg	$681K	$757K	5x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008805	+0.080%	$8.7M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008796	−0.018%	$174K	$466K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008791	−0.080%	$151K	$238K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008797	−0.009%	$36.5M	$152.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008795	−0.034%	$7.7M	$47.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008790	−0.091%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008800	+0.023%	$12.9M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008798	0.000%	$4.8M	$8.8M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008801	+0.034%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008797	−0.011%	—	$3.9M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008782	−0.182%	$313K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008802	+0.047%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008831	+0.375%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008802	+0.045%	$23K	$186K	20x	as long as short
SunX PENGU-USDTshort	+0.0100%	4h	0.009005	+2.353%	$3K	$2.1M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.008787	−0.125%	$998	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008813	+0.170%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008784	−0.159%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008795	−0.034%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0130%	1h	0.008792	−0.069%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008800	+0.025%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008805	+0.080%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0711%	1h	0.008801	+0.034%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	+1.671%	$95K	$105K	50x	as long as short