Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: ApeX Omni against Nado−0.115%61s7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$470.473% of the position

Long on Nado Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.068%+$7 on $10k

Price spread, last 4 days (all we have)−0.504%−$50 · spread now −0.115%, 7d avg +0.046%

Together, before fees−0.436%+ Points / potential airdropNado: Active · farm board−$44 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 0.160% cheaper against Nado than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.046%. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PENGU-PERP	0.009166	0.0100	pay 0.0012% / 1h	14m 07s	$645K	$1.1M	5x
Short	ApeX Omni PENGUUSDT	0.009155	0.0100	get 0.0013% / 1h	14m 07s	$80K	$252K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Nado. 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 NadobpFee ApeX OmnibpOrdersPrice spread, now −0.115%Rate

Funding earned: $0
Price spread: −0.115% → +0.046%: −$16.04
Slippage, 4 orders: −$30.26
Fee Nado: 3.5 bp × 2 orders: −$7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$63.3
Costs to cover: 0.473%
Break-even: 57547142984498.4 days

Slippage from Nado: live order book, 4 min ago; ApeX Omni: live order book, 22 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 Nado live order book, 4 min ago	1.64 bp	10.1 bp −$10	41.9 bp −$419	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 22 min ago	4.91 bp	13.8 bp −$14	103.7 bp −$1,037	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	0.009180	+0.162%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−4.108%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009188	+0.245%	$332K	$773K	8x	as long as short
Nado PENGU-PERPlong	+0.0100%	1h	0.009166	long leg	$645K	$1.1M	5x
Aster PENGUUSDT	+0.0100%	4h	0.009182	+0.180%	$147K	$730K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009159	−0.071%	$138K	$267K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009192	+0.285%	$40.5M	$194.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009183	+0.191%	$24.7M	$45.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009184	+0.202%	$8.3M	$57.6M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009170	+0.049%	$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	0.009180	+0.158%	$3.7M	$18.1M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009188	+0.245%	$11.4M	$13.1M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009188	+0.245%	$5.1M	$10.4M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009196	+0.333%	$9.1M	$14.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009187	+0.235%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009187	+0.235%	$318K	$382K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009127	−0.419%	$918K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009149	−0.183%	$480K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDTshort	+0.0100%	1h	0.009155	−0.115%	$80K	$252K	50x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009182	+0.180%	$24K	$299K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009393	+2.482%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009182	+0.180%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009195	+0.322%	$95K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009180	+0.156%	$188K	$744K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009179	+0.147%	$212K	—	3x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0186%	1h	0.009187	+0.235%	$1K	$29K	10x	as long as short
Hyperliquid PENGU	+0.0223%	1h	0.009203	+0.409%	$9.4M	$16.6M	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009137	−0.307%	$309	—	10x	as long as short
01 Exchange PENGUUSD	+0.0328%	1h	0.009171	+0.060%	$210	$41	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009146	−0.213%	$1.6M	$5.0M	75x	as long as short
dYdX PENGU-USD	+0.0390%	1h	0.009159	−0.068%	$12K	$6K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0435% / S −0.0352%	1h	0.009143	−0.245%	$105K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0532%	1h	0.009186	+0.219%	$356K	$2.6M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1928%	1h	0.009196	+0.333%	$81K	$74K	50x	as long as short