Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.020%

Price spread now: Bybit against KuCoin−0.055%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$690.693% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.122%−$12 on $10k

Price spread, last 7 days+0.010%+$1 · spread now −0.055%, 7d avg −0.067%

Together, before fees−0.112%−$11 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENGUUSDTM	0.009056	0.0100	pay 0.0050% / 4h	1h 51m	$5.1M	$10.5M	75x
Short	Bybit PENGUUSDT	0.009051	0.0100	get 0.0050% / 4h	1h 51m	$24.6M	$46.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.055%Rate

Funding earned: $0
Price spread: −0.055% → −0.067%: $1.13
Slippage, 4 orders: −$46.31
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$68.18
Costs to cover: 0.693%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Bybit: live order book, 5 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, 5 min ago	2.20 bp	26.4 bp −$26	69.7 bp −$697	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.55 bp	11.2 bp −$11	24.7 bp −$247	165.6 bp −$16.6K	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	0.009060	+0.049%	$20K	$21K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.009063	+0.077%	$1K	$27K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009067	+0.121%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.948%	$3K	$117K	5.5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0064%	1h	0.009070	+0.158%	$332K	$2.6M	50x	as long as short
Lighter PENGU	+0.0096%	1h	0.009062	+0.066%	$324K	$699K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009059	+0.033%	$650K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009062	+0.064%	$135K	$774K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009058	+0.022%	$137K	$225K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009058	+0.027%	$39.9M	$192.5M	75x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDTshort	+0.0100%	4h	0.009051	−0.055%	$24.6M	$46.5M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009055	−0.011%	$8.4M	$56.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009060	+0.044%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009059	+0.033%	$3.7M	$17.9M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009061	+0.055%	$12.2M	$12.3M	125x	as long as short
KuCoin PENGUUSDTMlong	+0.0100%	4h	0.009056	long leg	$5.1M	$10.5M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.009065	+0.099%	$8.7M	$14.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009057	+0.011%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009062	+0.066%	$302K	$366K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009073	+0.190%	$917K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009084	+0.312%	$480K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009079	+0.254%	$82K	$247K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009062	+0.066%	$23K	$357K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009285	+2.529%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009065	+0.099%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009078	+0.243%	$93K	$368K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009055	−0.006%	$185K	$740K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009060	+0.044%	$209K	—	3x	as long as short
Hyperliquid PENGU	+0.0146%	1h	0.009066	+0.110%	$9.7M	$17.0M	5x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009057	+0.011%	$306	—	10x	as long as short
01 Exchange PENGUUSD	+0.0288%	1h	0.009072	+0.177%	$208	$141	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009072	+0.177%	$1.6M	$5.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0433% / S −0.0357%	1h	0.009062	+0.066%	$105K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2136%	1h	0.009222	+1.833%	$84K	$95K	50x	as long as short