Funding arb · Price arb /

PENG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Gate against Nado+0.057%7-day average — · you sell dearer than you buy

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

Long on Nado Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

The price spread pays, funding is against you. Gate is 0.057% dearer against Nado than usual: you sell high and buy low (spread +0.057% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 46 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PENG-PERP	54.519	0.0100	pay 0.0012% / 1h	9m 19s	$28K	$3K	5x
Short	Gate PENG_USDT	54.550	0	get 0.0000% / 8h	4h 09m	$28K	$9K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.057%Rate

Funding earned: −$21
Price spread: +0.057% → 0.000%: $5.7
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$37.3
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Nado: no order-book sample; Gate: no order-book sample. 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 no order-book sample	—	—	—	—	—
Sell Gate no order-book sample	—	—	—	—	—

Nado and Gate: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

PENG on 9 exchanges

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
edgeX PENGUSDC	−0.0620%	4h	54.647	+0.235%	$18K	$260K	10x	as long as short
Binance PENGUSDT	0.0000%	8h	54.550	+0.057%	$133K	$520K	10x	as long as short
Gate PENG_USDTshort	0.0000%	8h	54.550	+0.057%	$28K	$9K	20x
Bitget PENGUSDT	0.0000%	8h	54.610	+0.167%	$36K	$38K	20x	as long as short
HTX PENG-USDT	0.0000%	8h	54.550	+0.057%	$6K	$279K	10x	as long as short
QFEX PENG-USD	0.0000%	1h	54.600	+0.149%	$1.2M	$859K	10x	as long as short
Vest PENG-USD-PERP	+0.0046%	1h	54.600	+0.149%	—	—	10x	as long as short
OKX PENG-USDT-SWAP	+0.0099%	8h	54.570	+0.094%	$91K	$72K	20x	as long as short
Nado PENG-PERPlong	+0.0100%	1h	54.519	long leg	$28K	$3K	5x