PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0573%/8h= −62.8% APRnext payment −$0.72 per $10,000 · paid last 24h −0.009%

Price spread now: Nado against Kraken Futures−0.112%7-day average −0.102% · 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−$62as in the Price arb table

costs, in and out, $10k−$610.607% of the position

Long on Kraken Futures Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.061%−$6 on $10k

Price spread, last 4 days (all we have)−0.054%−$5 · spread now −0.112%, 7d avg −0.102%

Together, before fees−0.115%+ Points / potential airdropNado: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.102%, so right now this pair is about funding alone: −$17 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.061% in total (about -6.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.72 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	Kraken Futures PF_PENGUUSD	0.009065	0.0673	pay 0.0084% / 1h	10m 23s	$337K	$2.5M	50x
Short	Nado PENGU-PERP	0.009055	0.0100	get 0.0012% / 1h	10m 23s	$638K	$1.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Kraken Futures. 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 Kraken FuturesbpFee NadobpOrdersPrice spread, now −0.112%Rate

Funding earned: −$120.35
Price spread: −0.112% → −0.102%: −$0.99
Slippage, 4 orders: −$43.68
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$182.02
Costs to cover: 0.607%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Nado: 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 Kraken Futures live order book, 3 min ago	6.65 bp	21.3 bp −$21	53.7 bp −$537	doesn't fit	doesn't fit
Sell Nado live order book, 3 min ago	2.22 bp	10.4 bp −$10	24.9 bp −$249	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009051	−0.155%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.047%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009064	−0.013%	$325K	$771K	8x	as long as short
Nado PENGU-PERPshort	+0.0100%	1h	0.009055	−0.112%	$638K	$1.1M	5x
Aster PENGUUSDT	+0.0100%	4h	0.009057	−0.087%	$143K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009052	−0.145%	$137K	$258K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009054	−0.125%	$39.5M	$189.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009050	−0.168%	$24.0M	$44.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009056	−0.101%	$8.0M	$54.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009060	−0.057%	$18K	$25K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENGU_USDT	+0.0100%	4h	0.009049	−0.179%	$3.7M	$17.5M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009049	−0.179%	$11.0M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009052	−0.145%	$5.1M	$10.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009061	−0.046%	$8.7M	$13.9M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009052	−0.145%	—	$3.9M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009052	−0.145%	$296K	$368K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009045	−0.225%	$921K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009021	−0.489%	$473K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009022	−0.476%	$79K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009056	−0.101%	$23K	$242K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009271	+2.270%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009059	−0.068%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009065	−0.002%	$94K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009056	−0.103%	$185K	$523K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009050	−0.168%	$209K	—	3x	as long as short
Hyperliquid PENGU	+0.0222%	1h	0.009057	−0.090%	$9.1M	$16.3M	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009057	−0.094%	$306	—	10x	as long as short
01 Exchange PENGUUSD	+0.0336%	1h	0.009059	−0.068%	$207	$60	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009063	−0.024%	$1.6M	$4.9M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0413%	1h	0.009062	−0.035%	$1K	$29K	10x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0443% / S −0.0368%	1h	0.009050	−0.168%	$107K	—	100x	as long as short
dYdX PENGU-USD	+0.0577%	1h	0.009045	−0.221%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSDlong	+0.0673%	1h	0.009065	long leg	$337K	$2.5M	50x
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009135	+0.770%	$80K	$70K	50x	as long as short