Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aevo against KuCoin−0.056%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$134as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1341.345% of the position

Long on KuCoin Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%$0 on $10k

Price spread, last 4 days (all we have)−0.012%−$1 · spread now −0.056%, 7d avg −0.051%

Together, before fees−0.007%−$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENGUUSDTM	0.008913	0.0100	pay 0.0050% / 4h	3h 20m	$4.9M	$9.5M	75x
Short	Aevo PENGU-PERP	0.008908	0.0104	get 0.0013% / 1h	20m 44s	$206K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against KuCoin. 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 KuCoinbpFee AevobpOrdersPrice spread, now −0.056%Rate

Funding earned: $0.84
Price spread: −0.056% → −0.051%: −$0.51
Slippage, 4 orders: −$106.46
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$134.12
Costs to cover: 1.345%
Break-even: 1124.7 days

Slippage from KuCoin: live order book, 3 min ago; Aevo: live order book, 33 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 KuCoin live order book, 3 min ago	1.12 bp	27.3 bp −$27	72.0 bp −$720	doesn't fit	doesn't fit
Sell Aevo live order book, 33 min ago	22.12 bp	32.8 bp −$33	doesn't fit	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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008919	+0.067%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008923	+0.115%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.391%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0035%	1h	0.008930	+0.195%	$12K	$5K	5x	as long as short
Gate PENGU_USDT	+0.0048%	4h	0.008911	−0.022%	$3.3M	$16.5M	75x	as long as short
01 Exchange PENGUUSD	+0.0080%	1h	0.008935	+0.247%	$204	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008935	+0.247%	$325K	$752K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008933	+0.224%	$599K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008931	+0.202%	$8.5M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008915	+0.025%	$137K	$643K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008927	+0.157%	$136K	$272K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008917	+0.045%	$37.9M	$172.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008909	−0.045%	$23.7M	$41.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008921	+0.090%	$7.8M	$50.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008930	+0.191%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008913	0.000%	$10.8M	$12.7M	125x	as long as short
KuCoin PENGUUSDTMlong	+0.0100%	4h	0.008913	long leg	$4.9M	$9.5M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008927	+0.157%	$8.7M	$13.0M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008910	−0.034%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008907	−0.067%	$298K	$328K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008908	−0.057%	$930K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008910	−0.033%	$474K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008925	+0.135%	$81K	$251K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008921	+0.090%	$23K	$108K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009131	+2.446%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008917	+0.045%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008939	+0.292%	$93K	$378K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008912	−0.010%	$184K	$943K	10x	as long as short
Aevo PENGU-PERPshort	+0.0104%	1h	0.008908	−0.056%	$206K	—	3x
Reya PENGURUSDPERP	+0.0239%	1h	0.008927	+0.158%	$301	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008911	−0.022%	$1.5M	$4.1M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0415%	1h	0.008922	+0.101%	$127K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0613%	1h	0.008923	+0.115%	$326K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.008940	+0.303%	$94K	$62K	50x	as long as short