PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0202%/8h= −22.1% APRnext payment −$0.25 per $10,000 · paid last 24h −0.003%

Price spread now: Nado against Arcus+0.065%7-day average — · you sell dearer than you buy

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

Long on Arcus Short on Nado

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—+ Points / potential airdropNado: Active · farm boardneeds both histories

The price spread pays, funding is against you. Nado is 0.065% dearer against Arcus than usual: you sell high and buy low (spread +0.065% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus PENGU-USD	0.008800	0.0100	pay 0.0013% / 1h	42m 56s	$19K	$24K	5x
Short	Nado PENGU-PERP	0.008806	−0.0102	pay 0.0013% / 1h	42m 56s	$562K	$960K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Arcus. 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 ArcusbpFee NadobpOrdersPrice spread, now +0.065%Rate

Funding earned: −$42.4
Price spread: +0.065% → 0.000%: $6.53
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$47.37
Costs to cover: 0.115%
Break-even: never at this rate

Slippage unknown: Arcus: no order-book sample; Nado: live order book, 25 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 Arcus no order-book sample	—	—	—	—	—
Sell Nado live order book, 25 min ago	1.12 bp	7.2 bp −$7	48.8 bp −$488	doesn't fit	doesn't fit

Arcus: 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
Nado PENGU-PERPshort	−0.0102%	1h	0.008806	+0.065%	$562K	$960K	5x
Variational Omni PENGU	−0.0050%	4h	0.008788	−0.135%	$876K	$1.0M	—	as long as short
ApeX Omni PENGUUSDT	−0.0034%	1h	0.008823	+0.261%	$80K	$248K	50x	as long as short
Gate PENGU_USDT	−0.0024%	4h	0.008757	−0.489%	$3.4M	$15.4M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008801	+0.011%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008807	+0.084%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.125%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0056%	1h	0.008806	+0.068%	$201	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008807	+0.080%	$311K	$706K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0097%	4h	0.008799	−0.011%	$19K	$173K	20x	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	0.008786	−0.159%	$8.2M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008791	−0.107%	$168K	$442K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008806	+0.068%	$152K	$242K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008764	−0.409%	$37.2M	$156.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008757	−0.489%	$22.8M	$38.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008761	−0.443%	$7.5M	$47.4M	50x	as long as short
Arcus PENGU-USDlong	+0.0100%	1h	0.008800	long leg	$19K	$24K	5x
MEXC PENGU_USDT	+0.0100%	4h	0.008764	−0.409%	$12.2M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008761	−0.443%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008760	−0.455%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008760	−0.455%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008790	−0.114%	$301K	$323K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008776	−0.271%	$469K	$2.1M	10x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009015	+2.443%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008802	+0.023%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008818	+0.205%	$89K	$327K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008756	−0.505%	$181K	$940K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008800	0.000%	$203K	—	3x	as long as short
dYdX PENGU-USD	+0.0154%	1h	0.008807	+0.077%	$12K	$4K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008811	+0.122%	$364K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008801	+0.009%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008832	+0.364%	$1.5M	$3.2M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0512% / S −0.0708%	1h	0.008807	+0.080%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.898%	$95K	$104K	50x	as long as short