Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.028%

Price spread now: KuCoin against gTrade (Gains Network)+0.158%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on KuCoin

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—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.158% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$16 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PENGU/USD	0.009026	L +0.0007% / S −0.0003%	pay 0.0001% / 1h	43m 53s	$33K	—	150x
Short	KuCoin PENGUUSDTM	0.009040	0.0100	get 0.0050% / 4h	3h 43m	$5.0M	$9.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee KuCoinbpOrdersPrice spread, now +0.158%Rate

Funding earned: $19.52
Price spread: +0.158% → 0.000%: $15.8
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $13.32
Costs to cover: 0.220%
Break-even: 2.2 days

Slippage unknown: gTrade (Gains Network): no order-book sample; KuCoin: live order book, 4 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 4 min ago	2.77 bp	21.3 bp −$21	48.9 bp −$489	doesn't fit	doesn't fit

gTrade (Gains Network): 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.

PENGU on 34 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	0.009026	+0.003%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USDlong	L +0.0007% / S −0.0003%	1h	0.009026	long leg	$33K	—	150x
dYdX PENGU-USD	+0.0021%	1h	0.008995	−0.341%	$12K	$5K	5x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.623%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0072%	1h	0.009014	−0.130%	$206	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009032	+0.069%	$334K	$746K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009016	−0.108%	$605K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009049	+0.258%	$8.5M	$14.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009045	+0.217%	$126K	$602K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009000	−0.285%	$139K	$270K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.009038	+0.134%	$38.7M	$170.2M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009022	−0.041%	$24.0M	$40.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009026	+0.003%	$7.9M	$50.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009010	−0.174%	$19K	$24K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009034	+0.092%	$3.4M	$16.2M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009037	+0.125%	$11.3M	$12.5M	125x	as long as short
KuCoin PENGUUSDTMshort	+0.0100%	4h	0.009040	+0.158%	$5.0M	$9.4M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.009045	+0.213%	$8.8M	$12.8M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009036	+0.114%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009041	+0.169%	$302K	$328K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008992	−0.375%	$938K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009005	−0.235%	$473K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008986	−0.440%	$91K	$247K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009022	−0.041%	$24K	$77K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009237	+2.341%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009026	+0.003%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009033	+0.080%	$93K	$378K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009031	+0.058%	$187K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009016	−0.108%	$208K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.009012	−0.150%	$304	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009005	−0.230%	$1.6M	$4.1M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0505% / S −0.0415%	1h	0.009028	+0.025%	$128K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0606%	1h	0.009036	+0.116%	$354K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.009056	+0.335%	$97K	$62K	50x	as long as short