Settings8H · net · $10k
LanguageThe language of the site
FundingPeriod funding rates are shown in
UnitsPercent or basis points
CostsCount taker fees and slippage in Net
SizePosition per leg used for Net and slippage
ExchangesWhich exchanges to include everywhere
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Funding arb · Price arb / Crypto

PENGU

All PENGU markets →
Backtest 30d
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
Variational OmniPENGU
0.009869+0.0100pay 0.0050% / 4h3h 34m$770K$1.1M50xLong Variational Omni+15% pts
SHORT
PhemexPENGUUSDT
0.009873+0.0100get 0.0050% / 4h3h 34m$1.5M$2.8M50xShort Phemex
Price gap+0.042%
Funding gap0.0000% /8h

Funding is ≈ 0 and the gap is 0.035% under its 7d average: the price leg works against you, −$3 on $10k if it goes back.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding+$30.0000% /8h now · paid +0.034% over the last 7D
Price−$3spread +0.042% now, avg +0.077% → −0.035% if it goes back
Costs−$1031.031% of $10k · taker + slippage, in and out
Result−$103−1.03%+ Points / potential airdropVariational Omni: points · farm boardWhat the last 7D really paid, hour by hour → backtest

Funding history

you earnyou payavg
RANGE STATS · 7D
Average /8h—
Highest—
Lowest—
Paid you—

Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.

Price spread between the two exchanges

Phemex price against Variational Omninow
RANGE STATS · 7D
Now+0.042%
Average—
Range—
Wider than now—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

PENGU on 34 exchanges

lowest funding first

Before you open

2 ok · 4 to watch
  • Watch: Thin at this size18.7 / 36.9 bp
    At $10k entering Phemex costs 36.9 bp, fee and slippage, 2.0× Variational Omni’s.
  • Note: Margin at max leverage$200 + $200
    Variational Omni 50x, Phemex 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
  • OK: Same payment interval4h / 4h
    Both legs pay at the same time.
    Next 24h at the current rates, on $10k a leg: $0.00Long Variational Omni: 6 payments, −$3.00; short Phemex: 6 payments, +$3.00.
  • Watch: Gap narrower than usual+0.042% vs +0.077%
    Less room for the price leg to pay you. If it goes back to average, the short loses.
  • Watch: Long leg is thinner$770K vs $1.5M OI
    Variational Omni sets your exit cost. Check its book before closing.
  • OK: Points on a legVariational Omni points
    Volume here counts toward the points program.
  • Watch: KYCVariational Omni No · Phemex Yes
    KYC unlocks spot and futures trading; an unverified account cannot withdraw at all.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned+0.0016%/8h × 21 periods+$3.40
Price spread+0.042% → +0.077% (7d avg)−$3.49
Slippage, 4 orderslive order books−$91.14
Fee Variational Omni bp × 2 orders$0.00
Fee Phemex bp × 2 orders−$12.00
Net · 7 days · $10k−$103.23
Costs to cover1.031%Break-even219.8 days
Slippage: Variational Omni: RFQ quote, 4 min ago; Phemex: live order book, 4 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGVariational Omni3.5518.7 bp−$1930.9 bp−$309doesn’t fitdoesn’t fit
SELL · SHORTPhemex2.0236.9 bp−$37doesn’t fitdoesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

PENGU news

posts that mention PENGU, from every exchangeSearch all news →
09-30 01:05ReyaListingPENGURUSDPERP no longer reported ($PENGU) seen by our collector
09-29 21:28Kraken FuturesOther"Bro, I am in a state of absolute abundance. Crypto. Stocks. Earning rewards. Secure. I'm swimming in options. While you're chasing rugs, I am chilling with my premium, strategic portfolio. This is what building wealth looks like. Fix your mindset, bro. Get on Kraken." -PENGU @krakenfx on X ↗
09-23 09:31PhemexListingnew market PENGUUSDT ($PENGU) seen by our collector
09-19 12:00KuCoinOtherAltseason 2026 hasn't officially started—CoinMarketCap's Altcoin Season Index sits near 44, well below the 75 threshold, and Bitcoin dominance is still holding around 58%. But a handful of names are already breaking away: HYPE and ZEC are leading on market cap and momentum, LINK and ONDO anchor the RWA/oracle narrative, while UNI, AAVE, XRP, PENGU, PONS, and Binance Life round out the top 10 watchlist. Which 10 altcoins are traders positioning in before the rotation? We break it all down on the KuCoin Blog 👇 @kucoincom on X ↗