Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against KuCoin−0.054%7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$650.650% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 4 days (all we have)−0.071%−$7 · spread now −0.054%, 7d avg −0.071%

Together, before fees−0.084%+ Points / potential airdropExtended: Active · farm board−$8 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENGUUSDTM	0.008795	0.0100	pay 0.0050% / 4h	1h 05m	$4.8M	$8.9M	75x
Short	Extended PENGU-USD	0.008790	0.0104	get 0.0013% / 1h	5m 29s	$181K	$622K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.054%Rate

Funding earned: $0.84
Price spread: −0.054% → −0.071%: $1.73
Slippage, 4 orders: −$47.98
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$62.41
Costs to cover: 0.650%
Break-even: 527.1 days

Slippage from KuCoin: live order book, 3 min ago; Extended: live order book, 13 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	0.57 bp	19.1 bp −$19	50.1 bp −$501	doesn't fit	doesn't fit
Sell Extended live order book, 13 min ago	1.71 bp	10.9 bp −$11	81.3 bp −$813	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
Kraken Futures PF_PENGUUSD	−0.0606%	1h	0.008805	+0.111%	$368K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0284%	4h	0.008789	−0.068%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0191%	4h	0.008787	−0.091%	$22.8M	$36.5M	75x	as long as short
01 Exchange PENGUUSD	−0.0120%	1h	0.008797	+0.023%	$201	$59	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0091%	1h	0.008799	+0.045%	$19K	$9K	10x	as long as short
Variational Omni PENGU	−0.0063%	4h	0.008782	−0.144%	$803K	$802K	—	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008797	+0.028%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.068%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	+0.0058%	1h	0.008791	−0.040%	$684K	$759K	5x	as long as short
Backpack PENGU_USDC_PERP	+0.0086%	1h	0.008790	−0.057%	$314K	$309K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENGU	+0.0096%	1h	0.008792	−0.034%	$308K	$736K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008802	+0.080%	$8.7M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008797	+0.022%	$190K	$467K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008789	−0.068%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008796	+0.008%	$36.6M	$153.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008796	+0.011%	$7.6M	$47.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008790	−0.057%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008795	0.000%	$12.6M	$12.8M	125x	as long as short
KuCoin PENGUUSDTMlong	+0.0100%	4h	0.008795	long leg	$4.8M	$8.9M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008799	+0.045%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008792	−0.034%	—	$3.9M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008796	+0.011%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008786	−0.102%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008799	+0.045%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009013	+2.479%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008794	−0.011%	$996	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008809	+0.159%	$92K	$249K	25x	as long as short
Extended PENGU-USDshort	+0.0104%	1h	0.008790	−0.054%	$181K	$622K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008795	0.000%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0133%	1h	0.008797	+0.022%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008796	+0.017%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008789	−0.068%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0711%	1h	0.008799	+0.045%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008896	+1.148%	$95K	$105K	50x	as long as short