PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0299%/8h= −32.8% APRnext payment −$1.50 per $10,000 · paid last 24h −0.020%

Price spread now: Variational Omni against KuCoin−0.090%7-day average −0.056% · you buy dearer than you sell

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

Long on KuCoin Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.035%−$3 on $10k

Price spread, last 3 days (all we have)+0.137%+$14 · spread now −0.090%, 7d avg −0.056%

Together, before fees+0.102%+ Points / potential airdropVariational Omni: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Variational Omni is 0.034% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.056%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.035% in total (about -3.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.50 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	KuCoin PENGUUSDTM	0.008850	0.0100	pay 0.0050% / 4h	3h 25m	$4.7M	$9.0M	75x
Short	Variational Omni PENGU	0.008842	−0.0199	pay 0.0100% / 4h	3h 25m	$874K	$932K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.090%Rate

Funding earned: −$62.81
Price spread: −0.090% → −0.056%: −$3.44
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$78.25
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 2 min ago; Variational Omni: RFQ quote, 48 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 KuCoin live order book, 2 min ago	1.70 bp	22.4 bp −$22	64.1 bp −$641	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 48 min ago	4.01 bp	doesn't fit	22.4 bp −$224	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
Kraken Futures PF_PENGUUSD	−0.0390%	1h	0.008858	+0.096%	$371K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0230%	4h	0.008837	−0.147%	$3.4M	$15.6M	75x	as long as short
01 Exchange PENGUUSD	−0.0224%	1h	0.008839	−0.124%	$202	$59	5x	as long as short
Variational Omni PENGUshort	−0.0199%	4h	0.008842	−0.090%	$874K	$932K	—
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008851	+0.011%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008851	+0.007%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.689%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0081%	1h	0.008833	−0.191%	$12K	$4K	5x	as long as short
Nado PENGU-PERP	+0.0090%	1h	0.008840	−0.113%	$700K	$767K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008854	+0.045%	$309K	$728K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008852	+0.023%	$24K	$175K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008845	−0.056%	$8.3M	$15.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008852	+0.019%	$190K	$481K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008839	−0.124%	$152K	$238K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008846	−0.044%	$36.9M	$154.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008840	−0.113%	$23.2M	$37.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008843	−0.079%	$7.6M	$47.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008850	0.000%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008844	−0.068%	$13.0M	$12.8M	125x	as long as short
KuCoin PENGUUSDTMlong	+0.0100%	4h	0.008850	long leg	$4.7M	$9.0M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008850	0.000%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008842	−0.090%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008847	−0.034%	$307K	$322K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008836	−0.159%	$468K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008820	−0.339%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009055	+2.316%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008850	0.000%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008874	+0.271%	$91K	$299K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008843	−0.078%	$182K	$973K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008845	−0.056%	$204K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008846	−0.047%	$299	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008812	−0.429%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0518% / S −0.0723%	1h	0.008849	−0.011%	$117K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008863	+0.147%	$94K	$103K	50x	as long as short