Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0090%/8h= +9.9% APRpaid last 24h −0.054%

Price spread now: Deribit against KuCoin+0.011%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENGUUSDTM	0.009085	0.0100	pay 0.0050% / 4h	2h 05m	$5.2M	$9.9M	75x
Short	Deribit PENGU_USDC-PERPETUAL	0.009086	0.0190	get 0.0024% / 1h	5m 38s	$1K	$29K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against KuCoin. 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 KuCoinbpFee DeribitbpOrdersPrice spread, now +0.011%Rate

Funding earned: $18.9
Price spread: +0.011% → 0.000%: $1.1
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $1
Costs to cover: 0.190%
Break-even: 6.6 days

Slippage unknown: KuCoin: live order book, 3 min ago; Deribit: 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 KuCoin live order book, 3 min ago	1.64 bp	27.2 bp −$27	49.4 bp −$494	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009072	−0.146%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.258%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009094	+0.099%	$334K	$759K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009074	−0.121%	$634K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009099	+0.154%	$9.4M	$15.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009085	0.000%	$121K	$691K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009084	−0.011%	$139K	$285K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009088	+0.028%	$39.7M	$183.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009077	−0.088%	$24.0M	$43.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009091	+0.066%	$7.9M	$53.9M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.009090	+0.055%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009087	+0.022%	$3.4M	$16.9M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009095	+0.110%	$11.0M	$12.8M	125x	as long as short
KuCoin PENGUUSDTMlong	+0.0100%	4h	0.009085	long leg	$5.2M	$9.9M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.009097	+0.132%	$8.7M	$13.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009091	+0.066%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009084	−0.011%	$297K	$359K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009068	−0.188%	$924K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009071	−0.154%	$478K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009070	−0.165%	$82K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009088	+0.033%	$23K	$187K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009299	+2.356%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009086	+0.011%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009095	+0.110%	$94K	$401K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009094	+0.098%	$187K	$841K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009085	0.000%	$210K	—	3x	as long as short
Deribit PENGU_USDC-PERPETUALshort	+0.0190%	1h	0.009086	+0.011%	$1K	$29K	10x
Reya PENGURUSDPERP	+0.0240%	1h	0.009075	−0.108%	$306	—	10x	as long as short
01 Exchange PENGUUSD	+0.0264%	1h	0.009104	+0.209%	$208	$64	5x	as long as short
dYdX PENGU-USD	+0.0276%	1h	0.009079	−0.067%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0310%	1h	0.009097	+0.135%	$339K	$2.5M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009095	+0.110%	$1.5M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0390% / S −0.0291%	1h	0.009069	−0.176%	$92K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.009185	+1.101%	$81K	$80K	50x	as long as short