Funding arb · Price arb /

PENG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Nado against OKX−0.045%7-day average — · you buy dearer than you sell

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

Long on OKX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. Nado is 0.045% cheaper against OKX than usual: you would sell low and buy high (spread −0.045% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 36 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PENG-USDT-SWAP	54.910	0	get 0.0000% / 8h	2h 11m	$91K	$86K	20x
Short	Nado PENG-PERP	54.885	0.0100	get 0.0012% / 1h	11m 17s	$29K	$3K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.045%Rate

Funding earned: $21
Price spread: −0.045% → 0.000%: −$4.49
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$0.49
Costs to cover: 0.170%
Break-even: 7.2 days

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

OKX and Nado: 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 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
Bitget PENGUSDT	−0.0575%	8h	54.980	+0.127%	$56K	$30K	20x	as long as short
QFEX PENG-USD	0.0000%	1h	54.800	−0.200%	$1.2M	$770K	10x	as long as short
Binance PENGUSDT	0.0000%	8h	54.890	−0.036%	$135K	$480K	10x	as long as short
OKX PENG-USDT-SWAPlong	0.0000%	8h	54.910	long leg	$91K	$86K	20x
Gate PENG_USDT	0.0000%	8h	54.920	+0.018%	$29K	$10K	20x	as long as short
HTX PENG-USDT	0.0000%	8h	54.940	+0.055%	$6K	$281K	10x	as long as short
Vest PENG-USD-PERP	+0.0046%	1h	54.790	−0.219%	—	—	10x	as long as short
Nado PENG-PERPshort	+0.0100%	1h	54.885	−0.045%	$29K	$3K	5x
edgeX PENGUSDC	+0.0217%	4h	54.853	−0.104%	$18K	$260K	10x	as long as short