Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0109%/8h= +11.9% APRpaid last 24h −0.018%

Price spread now: Kraken Futures against SunX−2.345%7-day average −2.621% · you buy dearer than you sell

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

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 3 days (all we have)+0.040%+$4 · spread now −2.345%, 7d avg −2.621%

Together, before fees+0.092%+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Kraken Futures is 0.277% dearer against SunX than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of −2.621%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PENGU-USDT	0.009069	0.0100	pay 0.0050% / 4h	2h 27m	$3K	$2.1M	10x
Short	Kraken Futures PF_PENGUUSD	0.008856	0.0209	get 0.0026% / 1h	27m 06s	$364K	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against SunX. 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 SunXbpFee Kraken FuturesbpOrdersPrice spread, now −2.345%Rate

Funding earned: $22.86
Price spread: −2.345% → −2.621%: $27.68
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $32.54
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: SunX: live order book, 9 min ago; Kraken Futures: 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 SunX live order book, 9 min ago	248.26 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	9.59 bp	16.4 bp −$16	36.1 bp −$361	doesn't fit	doesn't fit

PENGU on 33 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	0.008850	−2.415%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008855	−2.358%	$33K	—	150x	as long as short
Variational Omni PENGU	+0.0019%	4h	0.008791	−3.064%	$874K	$1.0M	—	as long as short
Gate PENGU_USDT	+0.0024%	4h	0.008836	−2.569%	$3.4M	$15.5M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.087%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0080%	1h	0.008860	−2.305%	$203	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008851	−2.404%	$313K	$707K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008850	−2.415%	$19K	$165K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008864	−2.263%	$597K	$988K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008845	−2.470%	$8.3M	$14.9M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008852	−2.394%	$144K	$508K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008861	−2.294%	$156K	$245K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008843	−2.492%	$37.8M	$157.4M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008838	−2.547%	$23.1M	$38.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008841	−2.514%	$7.5M	$47.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008850	−2.415%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008834	−2.591%	$12.0M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008838	−2.547%	$4.7M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008841	−2.514%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008838	−2.547%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008841	−2.514%	$303K	$304K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008815	−2.801%	$472K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008806	−2.900%	$80K	$249K	50x	as long as short
SunX PENGU-USDTlong	+0.0100%	4h	0.009069	long leg	$3K	$2.1M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.008847	−2.448%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008879	−2.095%	$95K	$337K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008848	−2.440%	$182K	$939K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008845	−2.470%	$204K	—	3x	as long as short
Kraken Futures PF_PENGUUSDshort	+0.0209%	1h	0.008856	−2.345%	$364K	$2.3M	50x
Reya PENGURUSDPERP	+0.0238%	1h	0.008860	−2.308%	$299	—	10x	as long as short
dYdX PENGU-USD	+0.0267%	1h	0.008868	−2.211%	$12K	$4K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0514% / S −0.0708%	1h	0.008857	−2.338%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	−1.125%	$95K	$94K	50x	as long as short