Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0188%/8h= +20.6% APRpaid last 24h −0.002%

Price spread now: KuCoin against 01 Exchange−0.057%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. KuCoin is 0.057% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.057% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 24 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange PENGUUSD	0.008820	−0.0088	get 0.0011% / 1h	44m 40s	$202	$59	5x
Short	KuCoin PENGUUSDTM	0.008815	0.0100	get 0.0050% / 4h	1h 44m	$4.8M	$8.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against 01 Exchange. 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 01 ExchangebpFee KuCoinbpOrdersPrice spread, now −0.057%Rate

Funding earned: $39.48
Price spread: −0.057% → 0.000%: −$5.67
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $14.81
Costs to cover: 0.190%
Break-even: 4.4 days

Slippage unknown: 01 Exchange: no order-book sample; KuCoin: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 4 min ago	1.71 bp	19.9 bp −$20	50.1 bp −$501	doesn't fit	doesn't fit

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
Kraken Futures PF_PENGUUSD	−0.0605%	1h	0.008812	−0.085%	$373K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0300%	4h	0.008810	−0.113%	$3.5M	$15.5M	75x	as long as short
01 Exchange PENGUUSDlong	−0.0088%	1h	0.008820	long leg	$202	$59	5x
Bybit PENGUUSDT	−0.0063%	4h	0.008807	−0.147%	$22.9M	$36.1M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008807	−0.147%	$19K	$9K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008807	−0.147%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	−1.190%	$3K	$81K	5.5x	as long as short
Nado PENGU-PERP	+0.0086%	1h	0.008797	−0.261%	$681K	$758K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008811	−0.102%	$301K	$726K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008810	−0.113%	$8.7M	$15.0M	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008811	−0.107%	$174K	$449K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008815	−0.057%	$149K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008816	−0.045%	$36.5M	$151.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008813	−0.079%	$7.7M	$47.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008820	0.000%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008814	−0.068%	$13.1M	$12.6M	125x	as long as short
KuCoin PENGUUSDTMshort	+0.0100%	4h	0.008815	−0.057%	$4.8M	$8.8M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008817	−0.034%	$8.4M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008802	−0.204%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008811	−0.102%	$314K	$309K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008772	−0.548%	$801K	$735K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008780	−0.452%	$459K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008779	−0.465%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008808	−0.136%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009019	+2.256%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008805	−0.170%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008819	−0.011%	$92K	$250K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008812	−0.092%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008805	−0.170%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0128%	1h	0.008816	−0.047%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008804	−0.177%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008810	−0.113%	$1.5M	$2.7M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0711%	1h	0.008807	−0.147%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008823	+0.034%	$95K	$101K	50x	as long as short