PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0718%/8h= −78.6% APRnext payment −$0.90 per $10,000 · paid last 24h +0.007%

Price spread now: Kraken Futures against Aevo+0.135%7-day average +0.114% · you sell dearer than you buy

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$1061.063% of the position

Long on Aevo Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 3 days (all we have)−0.011%−$1 · spread now +0.135%, 7d avg +0.114%

Together, before fees+0.050%+$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.021% dearer against Aevo than usual: you sell high and buy low (spread +0.135% now, against its 7-day average of +0.114%): +$2 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 2 hours. Mind the row above: over the last 7 days funding on this pair paid +0.061%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.061% in total (about 3.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.90 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENGU-PERP	0.008675	0.0104	pay 0.0013% / 1h	59m 03s	$200K	$17K	3x
Short	Kraken Futures PF_PENGUUSD	0.008687	−0.0614	pay 0.0077% / 1h	59m 03s	$385K	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Aevo. 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 AevobpFee Kraken FuturesbpOrdersPrice spread, now +0.135%Rate

Funding earned: −$150.75
Price spread: +0.135% → +0.114%: $2.08
Slippage, 4 orders: −$80.3
Fee Aevo: 8 bp × 2 orders: −$16
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$254.97
Costs to cover: 1.063%
Break-even: never at this rate

Slippage from Aevo: live order book, 25 min ago; Kraken Futures: live order book, 5 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 Aevo live order book, 25 min ago	11.49 bp	38.9 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	6.34 bp	23.0 bp −$23	55.1 bp −$551	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
Kraken Futures PF_PENGUUSDshort	−0.0614%	1h	0.008687	+0.135%	$385K	$2.1M	50x
Nado PENGU-PERP	−0.0579%	1h	0.008675	0.000%	$674K	$757K	5x	as long as short
Gate PENGU_USDT	−0.0302%	4h	0.008677	+0.023%	$3.4M	$15.4M	75x	as long as short
01 Exchange PENGUUSD	−0.0136%	1h	0.008683	+0.092%	$199	$59	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0095%	1h	0.008681	+0.069%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0030%	4h	0.008672	−0.035%	$22.5M	$35.9M	75x	as long as short
Backpack PENGU_USDC_PERP	−0.0010%	1h	0.008681	+0.069%	$310K	$314K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008683	+0.089%	$33K	—	150x	as long as short
dYdX PENGU-USD	+0.0021%	1h	0.008669	−0.070%	$11K	$4K	5x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	+0.461%	$3K	$81K	5.5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENGU	+0.0096%	1h	0.008679	+0.046%	$297K	$726K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008685	+0.115%	$8.6M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008688	+0.151%	$172K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008660	−0.173%	$146K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008681	+0.073%	$35.9M	$151.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008676	+0.012%	$7.7M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008670	−0.058%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008682	+0.081%	$13.0M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008679	+0.046%	$4.7M	$8.8M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008689	+0.161%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008668	−0.081%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008657	−0.205%	$800K	$726K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008664	−0.125%	$453K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008668	−0.081%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008680	+0.058%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008891	+2.490%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008676	+0.012%	$990	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008689	+0.161%	$91K	$250K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008675	−0.002%	$178K	$682K	10x	as long as short
Aevo PENGU-PERPlong	+0.0104%	1h	0.008675	long leg	$200K	$17K	3x
Reya PENGURUSDPERP	+0.0237%	1h	0.008678	+0.032%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008690	+0.173%	$1.5M	$2.7M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0503% / S −0.0703%	1h	0.008683	+0.092%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008699	+0.277%	$93K	$97K	50x	as long as short