Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0161%/8h= −17.6% APRpaid last 24h −0.025%

Price spread now: OKX against Kraken Futures+0.052%7-day average −0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$570.569% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

Price spread, last 4 days (all we have)−0.192%−$19 · spread now +0.052%, 7d avg −0.090%

Together, before fees−0.353%−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.142% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.052% now, against its 7-day average of −0.090%): +$14 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.9 days. At the pace of the last 7 days (−0.161% in total) that is about 6.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_PENGUUSD	0.008843	0.0261	pay 0.0033% / 1h	46m 05s	$335K	$2.7M	50x
Short	OKX PENGU-USDT-SWAP	0.008848	0.0100	get 0.0050% / 4h	46m 05s	$8.3M	$56.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.052%Rate

Funding earned: −$33.71
Price spread: +0.052% → −0.090%: $14.19
Slippage, 4 orders: −$36.95
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$76.47
Costs to cover: 0.569%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; OKX: live order book, 1 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, 1 min ago	2.82 bp	20.3 bp −$20	42.5 bp −$425	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.56 bp	9.6 bp −$10	28.7 bp −$287	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	0.008852	+0.093%	$19K	$21K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008835	−0.095%	$1K	$27K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008838	−0.060%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.615%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008847	+0.040%	$313K	$723K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008856	+0.148%	$592K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008856	+0.142%	$8.5M	$17.5M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008852	+0.097%	$110K	$834K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008853	+0.108%	$132K	$221K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008850	+0.080%	$37.7M	$198.5M	75x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDT	+0.0100%	4h	0.008850	+0.074%	$23.8M	$47.9M	75x	as long as short
OKX PENGU-USDT-SWAPshort	+0.0100%	4h	0.008848	+0.052%	$8.3M	$56.0M	50x
Arcus PENGU-USD	+0.0100%	1h	0.008860	+0.187%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008845	+0.018%	$3.6M	$18.3M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008851	+0.086%	$12.1M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008848	+0.052%	$5.0M	$10.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008852	+0.097%	$8.5M	$13.9M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008852	+0.097%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008850	+0.074%	$298K	$395K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008834	−0.105%	$875K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008821	−0.255%	$462K	$2.2M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008811	−0.367%	$80K	$247K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008836	−0.084%	$23K	$357K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009045	+2.279%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008840	−0.039%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008867	+0.267%	$91K	$361K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008834	−0.107%	$179K	$741K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008835	−0.095%	$204K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0128%	1h	0.008860	+0.187%	$203	$141	5x	as long as short
Reya PENGURUSDPERP	+0.0242%	1h	0.008843	0.000%	$299	—	10x	as long as short
Kraken Futures PF_PENGUUSDlong	+0.0261%	1h	0.008843	long leg	$335K	$2.7M	50x
BloFin PENGU-USDT	+0.0340%	4h	0.008865	+0.244%	$1.5M	$5.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0429% / S −0.0359%	1h	0.008841	−0.027%	$103K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1760%	1h	0.008785	−0.661%	$80K	$86K	50x	as long as short