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% APRpaid last 24h +0.002%

Price spread now: HTX against Nado+0.361%7-day average +0.286% · 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−$170as in the Price arb table

costs, in and out, $10k−$1781.778% of the position

Long on Nado Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.080%+$8 on $10k

Price spread, last 4 days (all we have)−0.093%−$9 · spread now +0.361%, 7d avg +0.286%

Together, before fees−0.014%+ Points / potential airdropNado: Active · farm board−$1 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: HTX is 0.074% dearer against Nado than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.286%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PENGU-PERP	0.009010	0.0100	pay 0.0012% / 1h	58m 23s	$635K	$1.1M	5x
Short	HTX PENGU-USDT	0.009043	0.0100	get 0.0050% / 4h	58m 23s	$93K	$404K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.361%Rate

Funding earned: $0
Price spread: +0.361% → +0.286%: $7.44
Slippage, 4 orders: −$158.76
Fee Nado: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$170.33
Costs to cover: 1.778%
Break-even: 153502084599056.7 days

Slippage from Nado: live order book, 5 min ago; HTX: live order book, 45 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, 5 min ago	2.21 bp	8.0 bp −$8	24.6 bp −$246	doesn't fit	doesn't fit
Sell HTX live order book, 45 min ago	19.25 bp	133.5 bp −$134	doesn't fit	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	0.009016	+0.065%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.458%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0051%	1h	0.009011	+0.008%	$12K	$6K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009028	+0.194%	$323K	$769K	8x	as long as short
Nado PENGU-PERPlong	+0.0100%	1h	0.009010	long leg	$635K	$1.1M	5x
Hyperliquid PENGU	+0.0100%	1h	0.009016	+0.061%	$9.0M	$16.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009026	+0.171%	$142K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009012	+0.017%	$136K	$264K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009021	+0.117%	$39.3M	$190.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009012	+0.017%	$24.1M	$44.6M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009012	+0.017%	$8.0M	$54.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009020	+0.105%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009012	+0.017%	$3.6M	$17.4M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009014	+0.039%	$10.9M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009010	−0.006%	$5.0M	$10.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009020	+0.105%	$8.7M	$13.9M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009017	+0.072%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009018	+0.083%	$295K	$368K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009035	+0.271%	$921K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009042	+0.355%	$474K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009045	+0.383%	$79K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009014	+0.039%	$23K	$251K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009231	+2.447%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009016	+0.061%	$1K	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.009043	+0.361%	$93K	$404K	25x
Extended PENGU-USD	+0.0104%	1h	0.009012	+0.022%	$185K	$523K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009009	−0.017%	$208K	—	3x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0194%	1h	0.009020	+0.105%	$1K	$29K	10x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009007	−0.043%	$304	—	10x	as long as short
01 Exchange PENGUUSD	+0.0280%	1h	0.009017	+0.072%	$206	$41	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009035	+0.272%	$1.6M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0442% / S −0.0368%	1h	0.009017	+0.072%	$106K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0541%	1h	0.009023	+0.135%	$336K	$2.5M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1928%	1h	0.009135	+1.382%	$80K	$70K	50x	as long as short