PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0263%/8h= −28.8% APRnext payment −$0.33 per $10,000 · paid last 24h +0.003%

Price spread now: Nado against Kraken Futures−0.140%7-day average −0.109% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$560.555% of the position

Long on Kraken Futures Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.048%−$5 on $10k

Price spread, last 4 days (all we have)−0.012%−$1 · spread now −0.140%, 7d avg −0.109%

Together, before fees−0.060%+ Points / potential airdropNado: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Nado is 0.031% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.109%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.048% in total (about -5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.33 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_PENGUUSD	0.008829	0.0363	pay 0.0045% / 1h	13m 34s	$345K	$2.3M	50x
Short	Nado PENGU-PERP	0.008817	0.0100	get 0.0012% / 1h	13m 34s	$592K	$1.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Kraken Futures. 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 Kraken FuturesbpFee NadobpOrdersPrice spread, now −0.140%Rate

Funding earned: −$55.19
Price spread: −0.140% → −0.109%: −$3.13
Slippage, 4 orders: −$38.54
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$113.86
Costs to cover: 0.555%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Nado: live order book, 5 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 Kraken Futures live order book, 5 min ago	2.28 bp	23.6 bp −$24	45.8 bp −$458	doesn't fit	doesn't fit
Sell Nado live order book, 5 min ago	0.57 bp	6.0 bp −$6	20.9 bp −$209	doesn't fit	doesn't fit

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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008812	−0.193%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.457%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0090%	1h	0.008822	−0.084%	$18K	$10K	10x	as long as short
Gate PENGU_USDT	+0.0092%	4h	0.008837	+0.086%	$3.3M	$15.7M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008840	+0.120%	$314K	$719K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008813	−0.186%	$23K	$107K	20x	as long as short
Nado PENGU-PERPshort	+0.0100%	1h	0.008817	−0.140%	$592K	$1.0M	5x
Hyperliquid PENGU	+0.0100%	1h	0.008840	+0.120%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008823	−0.073%	$118K	$589K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008840	+0.120%	$155K	$241K	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	0.008840	+0.115%	$37.0M	$163.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008840	+0.120%	$23.5M	$39.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008839	+0.109%	$7.4M	$47.6M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008840	+0.120%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008839	+0.109%	$10.9M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008841	+0.132%	$4.9M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008843	+0.154%	$8.3M	$12.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008839	+0.109%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008816	−0.152%	$293K	$317K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008816	−0.152%	$916K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008825	−0.044%	$461K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008823	−0.072%	$80K	$242K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009023	+2.193%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008820	−0.106%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008827	−0.027%	$92K	$371K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008839	+0.104%	$185K	$941K	10x	as long as short
01 Exchange PENGUUSD	+0.0104%	1h	0.008848	+0.211%	$202	$64	5x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008815	−0.163%	$204K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008808	−0.245%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008818	−0.129%	$1.5M	$3.7M	75x	as long as short
Kraken Futures PF_PENGUUSDlong	+0.0363%	1h	0.008829	long leg	$345K	$2.3M	50x
GMX PENGU/USD [WBTC.b-USDC]	L +0.0498% / S −0.0492%	1h	0.008809	−0.231%	$119K	—	100x	as long as short
dYdX PENGU-USD	+0.0503%	1h	0.008832	+0.032%	$12K	$5K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008950	+1.366%	$96K	$62K	50x	as long as short