Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: KuCoin against Bybit+0.090%7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$560.556% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.122%+$12 on $10k

Price spread, last 7 days−0.028%−$3 · spread now +0.090%, 7d avg +0.066%

Together, before fees+0.094%+$9 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 0.024% dearer against Bybit than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PENGUUSDT	0.008880	0.0100	pay 0.0050% / 4h	28m 53s	$23.7M	$47.9M	75x
Short	KuCoin PENGUUSDTM	0.008888	0.0100	get 0.0050% / 4h	28m 53s	$5.1M	$10.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Bybit. 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 BybitbpFee KuCoinbpOrdersPrice spread, now +0.090%Rate

Funding earned: $0
Price spread: +0.090% → +0.066%: $2.36
Slippage, 4 orders: −$32.57
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$53.21
Costs to cover: 0.556%
Break-even: never at this rate

Slippage from Bybit: live order book, 8 min ago; KuCoin: live order book, 3 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 Bybit live order book, 8 min ago	0.56 bp	10.3 bp −$10	26.0 bp −$260	119.5 bp −$11.9K	doesn't fit
Sell KuCoin live order book, 3 min ago	1.12 bp	21.0 bp −$21	50.3 bp −$503	doesn't fit	doesn't fit

PENGU on 34 exchanges

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
dYdX PENGU-USD	0.0000%	1h	0.008879	−0.015%	$19K	$21K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008890	+0.113%	$1K	$27K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008889	+0.103%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.025%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008890	+0.113%	$315K	$723K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008890	+0.113%	$8.5M	$17.5M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008892	+0.134%	$119K	$848K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008886	+0.068%	$127K	$227K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008885	+0.062%	$37.9M	$198.4M	75x	as long as short
Bybit PENGUUSDTlong	+0.0100%	4h	0.008880	long leg	$23.7M	$47.9M	75x

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008879	−0.011%	$8.4M	$56.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008890	+0.113%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008884	+0.045%	$3.6M	$18.3M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008886	+0.068%	$11.9M	$12.8M	125x	as long as short
KuCoin PENGUUSDTMshort	+0.0100%	4h	0.008888	+0.090%	$5.1M	$10.7M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008886	+0.068%	$8.6M	$13.9M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008875	−0.056%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008886	+0.068%	$298K	$396K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008886	+0.067%	$880K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008890	+0.114%	$469K	$2.2M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008892	+0.135%	$81K	$245K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008891	+0.130%	$551K	$1.1M	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008888	+0.090%	$23K	$358K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009102	+2.500%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008885	+0.056%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008897	+0.191%	$92K	$360K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008883	+0.033%	$180K	$1.0M	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008885	+0.056%	$205K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0144%	1h	0.008897	+0.191%	$204	$141	5x	as long as short
Reya PENGURUSDPERP	+0.0242%	1h	0.008888	+0.092%	$300	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0259%	1h	0.008889	+0.101%	$335K	$2.6M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008891	+0.124%	$1.6M	$5.7M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0430% / S −0.0359%	1h	0.008889	+0.101%	$103K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1760%	1h	0.008987	+1.205%	$82K	$85K	50x	as long as short