Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h −0.006%

Price spread now: 01 Exchange against KuCoin+0.101%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 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 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 pays, funding is against you. 01 Exchange is 0.101% dearer against KuCoin than usual: you sell high and buy low (spread +0.101% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 28 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENGUUSDTM	0.008922	0.0100	pay 0.0050% / 4h	3h 16m	$4.9M	$9.5M	75x
Short	01 Exchange PENGUUSD	0.008931	0.0088	get 0.0011% / 1h	16m 16s	$204	$64	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.101%Rate

Funding earned: −$2.52
Price spread: +0.101% → 0.000%: $10.09
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$11.43
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 2 min ago; 01 Exchange: 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, 2 min ago	1.12 bp	21.5 bp −$21	56.4 bp −$564	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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	0.008918	−0.045%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008921	−0.015%	$33K	—	150x	as long as short
Gate PENGU_USDT	+0.0030%	4h	0.008915	−0.078%	$3.3M	$16.5M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.491%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0056%	1h	0.008930	+0.091%	$12K	$5K	5x	as long as short
01 Exchange PENGUUSDshort	+0.0088%	1h	0.008931	+0.101%	$204	$64	5x
Lighter PENGU	+0.0096%	1h	0.008934	+0.134%	$325K	$752K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008924	+0.028%	$599K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008931	+0.101%	$8.5M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008925	+0.037%	$138K	$643K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008929	+0.078%	$136K	$273K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008922	−0.003%	$37.9M	$172.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008913	−0.101%	$23.7M	$41.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008911	−0.123%	$7.8M	$50.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008930	+0.090%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008931	+0.101%	$10.9M	$12.7M	125x	as long as short
KuCoin PENGUUSDTMlong	+0.0100%	4h	0.008922	long leg	$4.9M	$9.5M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008921	−0.011%	$8.6M	$13.1M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008917	−0.056%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008926	+0.045%	$298K	$327K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008908	−0.158%	$930K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008907	−0.172%	$474K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008925	+0.034%	$81K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008917	−0.056%	$23K	$113K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009141	+2.455%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008935	+0.146%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008957	+0.392%	$93K	$378K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008912	−0.112%	$184K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008915	−0.078%	$206K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008922	+0.002%	$301	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008932	+0.112%	$1.5M	$4.2M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0415%	1h	0.008919	−0.034%	$127K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0613%	1h	0.008924	+0.024%	$326K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.008982	+0.672%	$95K	$63K	50x	as long as short