Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against KuCoin0.000%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$750.753% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now 0.000%, 7d avg +0.021%

Together, before fees+0.027%+$3 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: ApeX Omni is 0.021% cheaper against KuCoin than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENGUUSDTM	0.009043	0.0100	pay 0.0050% / 4h	1h 14m	$5.1M	$10.2M	75x
Short	ApeX Omni PENGUUSDT	0.009043	0.0100	get 0.0013% / 1h	14m 58s	$79K	$252K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.021%: −$2.1
Slippage, 4 orders: −$53.32
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$77.42
Costs to cover: 0.753%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; ApeX Omni: live order book, 27 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	2.21 bp	30.4 bp −$30	63.6 bp −$636	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 27 min ago	6.06 bp	14.1 bp −$14	106.4 bp −$1,064	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	0.009039	−0.040%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.809%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009051	+0.088%	$325K	$768K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009038	−0.055%	$637K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009049	+0.061%	$143K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009041	−0.022%	$136K	$258K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009043	0.000%	$39.5M	$189.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009032	−0.122%	$24.0M	$44.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009036	−0.077%	$7.9M	$54.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009050	+0.077%	$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	0.009038	−0.055%	$3.7M	$17.5M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009043	0.000%	$11.0M	$13.0M	125x	as long as short
KuCoin PENGUUSDTMlong	+0.0100%	4h	0.009043	long leg	$5.1M	$10.2M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.009047	+0.044%	$8.7M	$13.9M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009040	−0.033%	—	$3.9M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009040	−0.033%	$295K	$368K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009026	−0.189%	$920K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009071	+0.308%	$476K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDTshort	+0.0100%	1h	0.009043	0.000%	$79K	$252K	50x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009044	+0.011%	$23K	$238K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009256	+2.355%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009045	+0.022%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009059	+0.177%	$94K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009042	−0.007%	$186K	$523K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009041	−0.022%	$209K	—	3x	as long as short
Hyperliquid PENGU	+0.0237%	1h	0.009052	+0.100%	$9.1M	$16.3M	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009039	−0.043%	$305	—	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0303%	1h	0.009049	+0.066%	$1K	$29K	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009050	+0.077%	$1.6M	$4.9M	75x	as long as short
01 Exchange PENGUUSD	+0.0344%	1h	0.009045	+0.022%	$207	$60	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0442% / S −0.0368%	1h	0.009039	−0.044%	$107K	—	100x	as long as short
dYdX PENGU-USD	+0.0601%	1h	0.009041	−0.026%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0674%	1h	0.009051	+0.087%	$337K	$2.5M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009135	+1.017%	$80K	$70K	50x	as long as short