PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.2196%/8h= −240.5% APRnext payment −$2.75 per $10,000 · paid last 24h −0.588%

Price spread now: Nado against Coinbase International−2.635%7-day average −0.806% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$403as in the Price arb table

costs, in and out, $10k−$2202.201% of the position

Long on Coinbase International Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−1.246%−$125 on $10k

Price spread, last 3 days (all we have)+1.869%+$187 · spread now −2.635%, 7d avg −0.806%

Together, before fees+0.622%+ Points / potential airdropNado: Active · farm board+$62 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$66 a day on $10k at the current rate, and Nado is 1.829% cheaper against Coinbase International than usual: you would sell low and buy high (−$183 if the spread goes back to its 7-day average of −0.806%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PENGU-PERP-INTX	0.008967	0.2296	pay 0.0287% / 1h	57m 11s	$95K	$94K	50x
Short	Nado PENGU-PERP	0.008731	0.0100	get 0.0012% / 1h	57m 11s	$588K	$988K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Coinbase International. 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 Coinbase InternationalbpFee NadobpOrdersPrice spread, now −2.635%Rate

Funding earned: −$461.16
Price spread: −2.635% → −0.806%: −$182.91
Slippage, 4 orders: −$203.05
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$864.12
Costs to cover: 2.201%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 36 min ago; Nado: live order book, 6 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 Coinbase International live order book, 36 min ago	84.41 bp	112.0 bp −$112	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 6 min ago	1.70 bp	9.8 bp −$10	51.4 bp −$514	doesn't fit	doesn't fit

PENGU on 33 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
Deribit PENGU_USDC-PERPETUAL	−0.0093%	1h	0.008731	−2.632%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008734	−2.601%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.985%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0068%	4h	0.008737	−2.565%	$3.4M	$15.3M	75x	as long as short
01 Exchange PENGUUSD	+0.0088%	1h	0.008731	−2.632%	$200	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008737	−2.565%	$310K	$707K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008732	−2.621%	$19K	$161K	20x	as long as short
Nado PENGU-PERPshort	+0.0100%	1h	0.008731	−2.635%	$588K	$988K	5x
Hyperliquid PENGU	+0.0100%	1h	0.008740	−2.532%	$8.1M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008732	−2.621%	$131K	$523K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008728	−2.665%	$154K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008735	−2.587%	$37.1M	$156.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008742	−2.509%	$23.1M	$38.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008747	−2.453%	$7.5M	$46.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008730	−2.643%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008744	−2.487%	$11.8M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008731	−2.632%	$4.7M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008744	−2.487%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008739	−2.543%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008743	−2.498%	$300K	$280K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008789	−1.985%	$874K	$987K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008783	−2.048%	$466K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008784	−2.041%	$80K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008938	−0.323%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008730	−2.643%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008745	−2.476%	$93K	$340K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008729	−2.654%	$183K	$941K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008725	−2.699%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0159%	1h	0.008726	−2.690%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008727	−2.673%	$295	—	10x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0582%	1h	0.008733	−2.610%	$119K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0651%	1h	0.008739	−2.543%	$352K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTXlong	+0.2296%	1h	0.008967	long leg	$95K	$94K	50x