Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: KuCoin against Aevo−0.011%7-day average +0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$209as in the Funding arb table

Net, price: spread back to 7d avg − costs−$215as in the Price arb table

costs, in and out, $10k−$2082.082% of the position

Long on Aevo Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%−$1 on $10k

Price spread, last 4 days (all we have)+0.084%+$8 · spread now −0.011%, 7d avg +0.056%

Together, before fees+0.078%+$8 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: KuCoin is 0.067% cheaper against Aevo than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENGU-PERP	0.009168	0.0104	pay 0.0013% / 1h	49m 42s	$212K	—	3x
Short	KuCoin PENGUUSDTM	0.009167	0.0100	get 0.0050% / 4h	1h 49m	$5.3M	$9.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$0.84
Price spread: −0.011% → +0.056%: −$6.69
Slippage, 4 orders: −$180.22
Fee Aevo: 8 bp × 2 orders: −$16
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$215.75
Costs to cover: 2.082%
Break-even: never at this rate

Slippage from Aevo: live order book, 59 min ago; KuCoin: live order book, 9 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, 59 min ago	68.10 bp	83.7 bp −$84	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 9 min ago	1.64 bp	25.5 bp −$25	61.6 bp −$616	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	0.009171	+0.035%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−4.134%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009145	−0.251%	$329K	$765K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009130	−0.414%	$642K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009144	−0.259%	$122K	$701K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009143	−0.273%	$140K	$291K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009143	−0.273%	$39.9M	$186.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009134	−0.371%	$24.2M	$43.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009137	−0.338%	$8.1M	$54.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009180	+0.131%	$19K	$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	0.009160	−0.087%	$3.5M	$17.0M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009143	−0.273%	$11.5M	$12.7M	125x	as long as short
KuCoin PENGUUSDTMshort	+0.0100%	4h	0.009167	−0.011%	$5.3M	$9.9M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.009165	−0.033%	$8.8M	$13.8M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009163	−0.055%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009174	+0.065%	$315K	$361K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009134	−0.371%	$931K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009099	−0.755%	$481K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009093	−0.818%	$80K	$251K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009178	+0.109%	$24K	$201K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009392	+2.443%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009178	+0.109%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009188	+0.218%	$95K	$401K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009156	−0.136%	$190K	$847K	10x	as long as short
Aevo PENGU-PERPlong	+0.0104%	1h	0.009168	long leg	$212K	—	3x
Deribit PENGU_USDC-PERPETUAL	+0.0186%	1h	0.009173	+0.055%	$1K	$29K	10x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009181	+0.139%	$310	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009151	−0.185%	$1.6M	$4.9M	75x	as long as short
01 Exchange PENGUUSD	+0.0368%	1h	0.009191	+0.251%	$210	$64	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0393% / S −0.0291%	1h	0.009168	0.000%	$93K	—	100x	as long as short
Hyperliquid PENGU	+0.0556%	1h	0.009167	−0.011%	$9.5M	$16.0M	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0664%	1h	0.009186	+0.201%	$342K	$2.5M	50x	as long as short
dYdX PENGU-USD	+0.0809%	1h	0.009134	−0.367%	$12K	$6K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009165	−0.033%	$81K	$68K	50x	as long as short