PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0507%/8h= +55.5% APRnext payment +$0.63 per $10,000 · paid last 24h +0.001%

Price spread now: Kraken Futures against Nado+0.242%46s7-day average +0.110% · you sell dearer than you buy

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−$780.780% of the position

Long on Nado Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.052%+$5 on $10k

Price spread, last 4 days (all we have)−0.051%−$5 · spread now +0.242%, 7d avg +0.110%

Together, before fees+0.001%+ Points / potential airdropNado: Active · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Kraken Futures is 0.132% dearer against Nado than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.110%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.052% in total (about 5.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.63 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PENGU-PERP	0.008989	0.0100	pay 0.0012% / 1h	45m 32s	$603K	$1.0M	5x
Short	Kraken Futures PF_PENGUUSD	0.009011	0.0607	get 0.0076% / 1h	45m 32s	$353K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.242%Rate

Funding earned: $106.53
Price spread: +0.242% → +0.110%: $13.22
Slippage, 4 orders: −$61.03
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $41.72
Costs to cover: 0.780%
Break-even: 4.3 days

Slippage from Nado: live order book, 3 min ago; Kraken Futures: live order book, 3 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, 3 min ago	2.22 bp	12.9 bp −$13	41.2 bp −$412	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	16.61 bp	27.8 bp −$28	56.0 bp −$560	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	0.009005	+0.172%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009002	+0.137%	$33K	—	150x	as long as short
dYdX PENGU-USD	+0.0023%	1h	0.008992	+0.026%	$12K	$5K	5x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.230%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0072%	1h	0.008991	+0.017%	$206	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009000	+0.117%	$334K	$745K	8x	as long as short
Nado PENGU-PERPlong	+0.0100%	1h	0.008989	long leg	$603K	$1.0M	5x
Hyperliquid PENGU	+0.0100%	1h	0.009004	+0.161%	$8.4M	$14.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008995	+0.057%	$126K	$602K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008991	+0.017%	$139K	$270K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008989	0.000%	$38.5M	$169.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008983	−0.072%	$23.9M	$40.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008994	+0.050%	$7.9M	$49.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008990	+0.006%	$19K	$24K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008986	−0.039%	$3.4M	$16.1M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008987	−0.028%	$11.2M	$12.5M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008989	−0.006%	$4.9M	$9.4M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009005	+0.172%	$8.8M	$12.8M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008990	+0.006%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009000	+0.117%	$301K	$330K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008992	+0.027%	$938K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009005	+0.167%	$473K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008986	−0.039%	$91K	$247K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009003	+0.150%	$24K	$81K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009217	+2.531%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009002	+0.139%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009015	+0.284%	$93K	$378K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008983	−0.072%	$186K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008999	+0.106%	$208K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008998	+0.097%	$304	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008964	−0.284%	$1.5M	$4.1M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0504% / S −0.0415%	1h	0.009000	+0.117%	$128K	—	100x	as long as short
Kraken Futures PF_PENGUUSDshort	+0.0607%	1h	0.009011	+0.242%	$353K	$2.4M	50x
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.009060	+0.784%	$96K	$61K	50x	as long as short