Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against OKX+0.087%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$700.697% of the position

Long on OKX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.052%+$5 on $10k

Price spread, last 7 days−0.078%−$8 · spread now +0.087%, 7d avg +0.023%

Together, before fees−0.026%−$3 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: KuCoin is 0.064% dearer against OKX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PENGU-USDT-SWAP	0.009180	0.0100	pay 0.0050% / 4h	3h 03m	$8.4M	$58.4M	50x
Short	KuCoin PENGUUSDTM	0.009188	0.0100	get 0.0050% / 4h	3h 03m	$5.2M	$10.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against OKX. 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 OKXbpFee KuCoinbpOrdersPrice spread, now +0.087%Rate

Funding earned: $0
Price spread: +0.087% → +0.023%: $6.43
Slippage, 4 orders: −$47.7
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$63.27
Costs to cover: 0.697%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; KuCoin: live order book, 5 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 OKX live order book, 5 min ago	0.55 bp	10.7 bp −$11	32.2 bp −$322	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	1.09 bp	21.8 bp −$22	55.1 bp −$551	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
Gate PENGU_USDT	−0.0014%	4h	0.009184	+0.044%	$3.8M	$18.3M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009183	+0.035%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−4.259%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009194	+0.153%	$329K	$771K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009180	−0.005%	$650K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009196	+0.174%	$9.6M	$16.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009187	+0.076%	$146K	$785K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009180	0.000%	$140K	$235K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009188	+0.084%	$40.8M	$196.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009180	0.000%	$24.9M	$47.2M	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-SWAPlong	+0.0100%	4h	0.009180	long leg	$8.4M	$58.4M	50x
Arcus PENGU-USD	+0.0100%	1h	0.009190	+0.109%	$19K	$26K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009188	+0.087%	$12.1M	$13.2M	125x	as long as short
KuCoin PENGUUSDTMshort	+0.0100%	4h	0.009188	+0.087%	$5.2M	$10.7M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.009192	+0.131%	$9.0M	$15.1M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009176	−0.044%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009184	+0.044%	$303K	$370K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009164	−0.174%	$947K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009181	+0.014%	$483K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009173	−0.076%	$81K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009186	+0.065%	$24K	$350K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009405	+2.451%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009187	+0.076%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009203	+0.251%	$96K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009183	+0.034%	$188K	$746K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009182	+0.022%	$212K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009177	−0.037%	$310	—	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0294%	1h	0.009190	+0.109%	$1K	$28K	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009187	+0.076%	$1.6M	$5.3M	75x	as long as short
01 Exchange PENGUUSD	+0.0352%	1h	0.009194	+0.153%	$210	$141	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0375%	1h	0.009196	+0.177%	$348K	$2.7M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0432% / S −0.0351%	1h	0.009185	+0.054%	$105K	—	100x	as long as short
dYdX PENGU-USD	+0.1402%	1h	0.009175	−0.049%	$22K	$18K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2088%	1h	0.009232	+0.566%	$79K	$85K	50x	as long as short