Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: SunX against Nado+2.270%7-day average +2.716% · you sell dearer than you buy

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

Long on Nado Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.071%+$7 on $10k

Price spread, last 4 days (all we have)+0.221%+$22 · spread now +2.270%, 7d avg +2.716%

Together, before fees+0.292%+ Points / potential airdropNado: Active · farm board+$29 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: SunX is 0.446% cheaper against Nado than usual: you would sell low and buy high, −$45 on $10k if it goes back to its 7-day average of +2.716%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PENGU-PERP	0.009076	0.0100	pay 0.0013% / 1h	2m 35s	$638K	$1.1M	5x
Short	SunX PENGU-USDT	0.009282	0.0100	get 0.0050% / 4h	2h 02m	$3K	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +2.270%Rate

Funding earned: $0
Price spread: +2.270% → +2.716%: −$44.65
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$59.65
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 1 min ago; SunX: live order book, 4 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 Nado live order book, 1 min ago	2.20 bp	10.0 bp −$10	27.3 bp −$273	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	122.44 bp	doesn't fit	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	0.009066	−0.109%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.162%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009083	+0.077%	$334K	$759K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009076	0.000%	$9.3M	$15.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009080	+0.044%	$120K	$691K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009075	−0.011%	$139K	$285K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009080	+0.043%	$39.7M	$184.4M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009075	−0.011%	$24.1M	$43.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009078	+0.022%	$8.0M	$54.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009090	+0.154%	$18K	$26K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENGU_USDT	+0.0100%	4h	0.009076	0.000%	$3.4M	$17.0M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009080	+0.044%	$11.1M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009065	−0.121%	$5.2M	$9.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009084	+0.088%	$8.7M	$13.8M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009081	+0.055%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009070	−0.066%	$300K	$364K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009068	−0.089%	$924K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009091	+0.162%	$481K	$2.2M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009101	+0.275%	$82K	$250K	50x	as long as short
Nado PENGU-PERPlong	+0.0100%	1h	0.009076	long leg	$638K	$1.1M	5x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009070	−0.066%	$23K	$188K	20x	as long as short
SunX PENGU-USDTshort	+0.0100%	4h	0.009282	+2.270%	$3K	$2.2M	10x
SoDEX PENGU-USD	+0.0100%	1h	0.009070	−0.066%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009086	+0.110%	$94K	$401K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009081	+0.053%	$187K	$841K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009067	−0.099%	$209K	—	3x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0191%	1h	0.009071	−0.055%	$1K	$29K	10x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009068	−0.088%	$306	—	10x	as long as short
01 Exchange PENGUUSD	+0.0280%	1h	0.009089	+0.143%	$208	$64	5x	as long as short
dYdX PENGU-USD	+0.0301%	1h	0.009069	−0.075%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0311%	1h	0.009085	+0.094%	$339K	$2.5M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009077	+0.011%	$1.5M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0390% / S −0.0291%	1h	0.009063	−0.143%	$92K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.009185	+1.201%	$81K	$80K	50x	as long as short