Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against ApeX Omni−0.091%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$750.747% of the position

Long on ApeX Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 3 days (all we have)+0.053%+$5 · spread now −0.091%, 7d avg −0.018%

Together, before fees+0.062%+$6 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 0.073% cheaper against ApeX Omni than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PENGUUSDT	0.008779	0.0100	pay 0.0013% / 1h	49m 17s	$80K	$254K	50x
Short	KuCoin PENGUUSDTM	0.008771	0.0100	get 0.0050% / 4h	3h 49m	$4.7M	$9.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.091%Rate

Funding earned: $0
Price spread: −0.091% → −0.018%: −$7.27
Slippage, 4 orders: −$52.67
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$81.94
Costs to cover: 0.747%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 22 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 ApeX Omni live order book, 22 min ago	5.75 bp	14.7 bp −$15	101.3 bp −$1,013	doesn't fit	doesn't fit
Sell KuCoin live order book, 9 min ago	1.14 bp	14.1 bp −$14	43.5 bp −$435	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
Gate PENGU_USDT	−0.0470%	4h	0.008769	−0.114%	$3.4M	$15.4M	75x	as long as short
Bybit PENGUUSDT	−0.0435%	4h	0.008768	−0.125%	$22.9M	$37.2M	75x	as long as short
Kraken Futures PF_PENGUUSD	−0.0394%	1h	0.008785	+0.071%	$368K	$2.3M	50x	as long as short
Variational Omni PENGU	−0.0293%	4h	0.008777	−0.021%	$871K	$931K	—	as long as short
01 Exchange PENGUUSD	−0.0160%	1h	0.008760	−0.216%	$200	$59	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0092%	1h	0.008777	−0.023%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008773	−0.065%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.114%	$3K	$117K	5.5x	as long as short
Backpack PENGU_USDC_PERP	+0.0048%	1h	0.008758	−0.239%	$307K	$315K	10x	as long as short
Nado PENGU-PERP	+0.0083%	1h	0.008764	−0.171%	$697K	$779K	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	0.008776	−0.034%	$307K	$727K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008775	−0.046%	$23K	$185K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008770	−0.103%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008775	−0.046%	$188K	$481K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008765	−0.159%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008773	−0.074%	$36.5M	$155.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008776	−0.034%	$7.6M	$47.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008770	−0.103%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008768	−0.125%	$12.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTMshort	+0.0100%	4h	0.008771	−0.091%	$4.7M	$9.0M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008777	−0.023%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008770	−0.103%	—	$3.9M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008816	+0.423%	$467K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDTlong	+0.0100%	1h	0.008779	long leg	$80K	$254K	50x
SunX PENGU-USDT	+0.0100%	4h	0.008980	+2.290%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008775	−0.046%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008783	+0.046%	$90K	$300K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008774	−0.055%	$181K	$691K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008765	−0.159%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0104%	1h	0.008768	−0.122%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008768	−0.130%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008770	−0.103%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0497% / S −0.0608%	1h	0.008774	−0.057%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008808	+0.330%	$94K	$103K	50x	as long as short