PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0487%/8h= −53.3% APRnext payment −$0.61 per $10,000 · paid last 24h −0.013%

Price spread now: Kraken Futures against ApeX Omni−0.278%7-day average +0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$650.650% of the position

Long on ApeX Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 3 days (all we have)+0.492%+$49 · spread now −0.278%, 7d avg +0.062%

Together, before fees+0.556%+$56 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Kraken Futures is 0.340% cheaper against ApeX Omni than usual: you would sell low and buy high (−$34 if the spread goes back to its 7-day average of +0.062%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.064%, 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 0.064% in total (about 3.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.61 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	ApeX Omni PENGUUSDT	0.008958	0.0100	pay 0.0013% / 1h	4m 36s	$82K	$248K	50x
Short	Kraken Futures PF_PENGUUSD	0.008933	−0.0387	pay 0.0048% / 1h	4m 36s	$372K	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against ApeX Omni. 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 ApeX OmnibpFee Kraken FuturesbpOrdersPrice spread, now −0.278%Rate

Funding earned: −$102.28
Price spread: −0.278% → +0.062%: −$34.04
Slippage, 4 orders: −$44.98
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$201.3
Costs to cover: 0.650%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 2 min ago; Kraken Futures: live order book, 4 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 ApeX Omni live order book, 2 min ago	4.47 bp	13.3 bp −$13	96.5 bp −$965	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	2.23 bp	14.7 bp −$15	35.9 bp −$359	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	−0.0387%	1h	0.008933	−0.278%	$372K	$2.3M	50x
01 Exchange PENGUUSD	−0.0168%	1h	0.008938	−0.223%	$204	$59	5x	as long as short
Gate PENGU_USDT	−0.0118%	4h	0.008931	−0.301%	$3.5M	$15.9M	75x	as long as short
Variational Omni PENGU	−0.0108%	4h	0.008910	−0.537%	$920K	$975K	—	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008927	−0.346%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008927	−0.346%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.887%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008940	−0.201%	$310K	$733K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008924	−0.380%	$19K	$178K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008921	−0.407%	$707K	$765K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008939	−0.212%	$8.4M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008938	−0.222%	$191K	$465K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008935	−0.257%	$154K	$240K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008935	−0.257%	$37.8M	$156.2M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008928	−0.335%	$23.4M	$37.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008929	−0.324%	$7.7M	$48.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008940	−0.201%	$20K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008937	−0.234%	$13.1M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008932	−0.290%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008934	−0.268%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008916	−0.469%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008919	−0.435%	$307K	$321K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008952	−0.072%	$468K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDTlong	+0.0100%	1h	0.008958	long leg	$82K	$248K	50x
SunX PENGU-USDT	+0.0100%	4h	0.009138	+2.009%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008925	−0.368%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008936	−0.246%	$92K	$299K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008928	−0.336%	$184K	$935K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008918	−0.447%	$206K	—	3x	as long as short
dYdX PENGU-USD	+0.0112%	1h	0.008935	−0.260%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008921	−0.408%	$301	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008925	−0.368%	$1.5M	$2.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0522% / S −0.0723%	1h	0.008925	−0.368%	$118K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008967	+0.100%	$95K	$104K	50x	as long as short