Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: ApeX Omni against Nado+0.227%61s7-day average +0.046% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.463% of the position

Long on Nado Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.068%+$7 on $10k

Price spread, last 4 days (all we have)−0.846%−$85 · spread now +0.227%, 7d avg +0.046%

Together, before fees−0.778%+ Points / potential airdropNado: Active · farm board−$78 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.181% dearer against Nado than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.046%. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PENGU-PERP	0.009131	0.0100	pay 0.0012% / 1h	35m 47s	$643K	$1.1M	5x
Short	ApeX Omni PENGUUSDT	0.009152	0.0100	get 0.0013% / 1h	35m 47s	$80K	$252K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Nado. 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 NadobpFee ApeX OmnibpOrdersPrice spread, now +0.227%Rate

Funding earned: $0
Price spread: +0.227% → +0.046%: $18.15
Slippage, 4 orders: −$29.35
Fee Nado: 3.5 bp × 2 orders: −$7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$28.2
Costs to cover: 0.463%
Break-even: 25640819323808.3 days

Slippage from Nado: live order book, 3 min ago; ApeX Omni: live order book, 1 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 Nado live order book, 3 min ago	1.64 bp	8.9 bp −$9	38.3 bp −$383	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 1 min ago	4.91 bp	13.8 bp −$14	103.7 bp −$1,037	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	0.009153	+0.233%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.748%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009135	+0.041%	$330K	$772K	8x	as long as short
Nado PENGU-PERPlong	+0.0100%	1h	0.009131	long leg	$643K	$1.1M	5x
Hyperliquid PENGU	+0.0100%	1h	0.009145	+0.151%	$9.3M	$16.4M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009137	+0.062%	$144K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009129	−0.025%	$138K	$265K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009132	+0.008%	$40.1M	$192.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009116	−0.167%	$24.5M	$45.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009119	−0.134%	$8.1M	$56.3M	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	0.009130	−0.014%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009131	−0.003%	$3.7M	$17.7M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009125	−0.068%	$10.9M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009127	−0.047%	$5.0M	$10.3M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009124	−0.079%	$8.8M	$14.2M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009112	−0.211%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009139	+0.085%	$305K	$376K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009132	+0.005%	$959K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009141	+0.106%	$476K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDTshort	+0.0100%	1h	0.009152	+0.227%	$80K	$252K	50x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009157	+0.282%	$24K	$272K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009373	+2.648%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009146	+0.162%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009158	+0.293%	$95K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009122	−0.105%	$187K	$742K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009147	+0.172%	$211K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009138	+0.073%	$309	—	10x	as long as short
01 Exchange PENGUUSD	+0.0328%	1h	0.009133	+0.019%	$209	$41	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009146	+0.162%	$1.6M	$5.0M	75x	as long as short
dYdX PENGU-USD	+0.0362%	1h	0.009132	+0.010%	$12K	$6K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0406%	1h	0.009159	+0.304%	$1K	$29K	10x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0435% / S −0.0352%	1h	0.009150	+0.205%	$105K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0534%	1h	0.009153	+0.233%	$345K	$2.6M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1928%	1h	0.009196	+0.709%	$81K	$74K	50x	as long as short