Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: KuCoin against Aevo0.000%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$132as in the Funding arb table

Net, price: spread back to 7d avg − costs−$137as in the Price arb table

costs, in and out, $10k−$1311.312% of the position

Long on Aevo Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 4 days (all we have)+0.068%+$7 · spread now 0.000%, 7d avg +0.060%

Together, before fees+0.062%+$6 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 0.060% cheaper against Aevo than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENGU-PERP	0.009040	0.0104	pay 0.0013% / 1h	48m 23s	$209K	—	3x
Short	KuCoin PENGUUSDTM	0.009040	0.0100	get 0.0050% / 4h	1h 48m	$5.1M	$10.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Aevo. 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 AevobpFee KuCoinbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$0.84
Price spread: 0.000% → +0.060%: −$6.02
Slippage, 4 orders: −$103.24
Fee Aevo: 8 bp × 2 orders: −$16
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$138.1
Costs to cover: 1.312%
Break-even: never at this rate

Slippage from Aevo: live order book, 63 min ago; KuCoin: live order book, 3 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 Aevo live order book, 63 min ago	16.44 bp	53.9 bp −$54	292.3 bp −$2,923	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	1.11 bp	17.4 bp −$17	51.6 bp −$516	doesn't fit	doesn't fit

PENGU on 34 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
dYdX PENGU-USD	0.0000%	1h	0.009037	−0.032%	$20K	$21K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.009042	+0.022%	$1K	$27K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009067	+0.298%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.777%	$3K	$117K	5.5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0064%	1h	0.009046	+0.063%	$332K	$2.6M	50x	as long as short
Lighter PENGU	+0.0096%	1h	0.009039	−0.011%	$324K	$700K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009035	−0.061%	$648K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009044	+0.048%	$135K	$776K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009034	−0.066%	$136K	$225K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009041	+0.016%	$39.8M	$192.8M	75x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDT	+0.0100%	4h	0.009031	−0.100%	$24.5M	$46.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009036	−0.044%	$8.4M	$56.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009040	0.000%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009038	−0.022%	$3.7M	$17.9M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009043	+0.033%	$12.2M	$12.3M	125x	as long as short
KuCoin PENGUUSDTMshort	+0.0100%	4h	0.009040	0.000%	$5.1M	$10.5M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.009042	+0.022%	$8.7M	$14.3M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009034	−0.066%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009048	+0.088%	$302K	$366K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009040	+0.002%	$912K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009070	+0.332%	$474K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009053	+0.144%	$82K	$247K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009040	0.000%	$23K	$357K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009257	+2.400%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009042	+0.022%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009067	+0.299%	$93K	$368K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009036	−0.044%	$185K	$740K	10x	as long as short
Aevo PENGU-PERPlong	+0.0104%	1h	0.009040	long leg	$209K	—	3x
Hyperliquid PENGU	+0.0136%	1h	0.009047	+0.077%	$9.7M	$17.0M	5x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009048	+0.088%	$306	—	10x	as long as short
01 Exchange PENGUUSD	+0.0272%	1h	0.009039	−0.011%	$207	$141	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009051	+0.122%	$1.6M	$5.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0433% / S −0.0357%	1h	0.009062	+0.243%	$105K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2136%	1h	0.009222	+2.013%	$84K	$95K	50x	as long as short