Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: KuCoin against Nado−0.051%7-day average +0.019% · 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−$67as in the Price arb table

costs, in and out, $10k−$600.599% of the position

Long on Nado Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.071%+$7 on $10k

Price spread, last 4 days (all we have)−1.370%−$137 · spread now −0.051%, 7d avg +0.019%

Together, before fees−1.299%+ Points / potential airdropNado: Active · farm board−$130 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: KuCoin is 0.071% cheaper against Nado than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado PENGU-PERP	0.008798	0.0100	pay 0.0013% / 1h	16m 27s	$593K	$993K	5x
Short	KuCoin PENGUUSDTM	0.008794	0.0100	get 0.0050% / 4h	2h 16m	$4.7M	$9.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.051%Rate

Funding earned: $0
Price spread: −0.051% → +0.019%: −$7.06
Slippage, 4 orders: −$40.88
Fee Nado: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$66.94
Costs to cover: 0.599%
Break-even: never at this rate

Slippage from Nado: live order book, 52 min ago; KuCoin: live order book, 2 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, 52 min ago	1.12 bp	9.2 bp −$9	26.3 bp −$263	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	2.28 bp	19.4 bp −$19	45.3 bp −$453	doesn't fit	doesn't fit

PENGU on 33 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	0.008774	−0.278%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008794	−0.046%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.108%	$3K	$117K	5.5x	as long as short
Variational Omni PENGU	+0.0060%	4h	0.008804	+0.061%	$876K	$999K	—	as long as short
Gate PENGU_USDT	+0.0082%	4h	0.008793	−0.063%	$3.4M	$15.6M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008791	−0.085%	$311K	$707K	8x	as long as short
01 Exchange PENGUUSD	+0.0096%	1h	0.008798	−0.006%	$201	$64	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008792	−0.074%	$19K	$161K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008801	+0.028%	$8.3M	$14.9M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008790	−0.098%	$142K	$511K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008789	−0.108%	$155K	$245K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008798	−0.010%	$37.4M	$157.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008785	−0.153%	$23.1M	$38.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008791	−0.085%	$7.5M	$47.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008790	−0.097%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008799	+0.006%	$11.9M	$12.9M	125x	as long as short
KuCoin PENGUUSDTMshort	+0.0100%	4h	0.008794	−0.051%	$4.7M	$9.0M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008801	+0.028%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008780	−0.210%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008774	−0.278%	$301K	$300K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008807	+0.092%	$462K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008803	+0.051%	$80K	$249K	50x	as long as short
Nado PENGU-PERPlong	+0.0100%	1h	0.008798	long leg	$593K	$993K	5x
SunX PENGU-USDT	+0.0100%	4h	0.008987	+2.142%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008776	−0.256%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008793	−0.063%	$94K	$337K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008784	−0.168%	$184K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008767	−0.358%	$203K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008786	−0.138%	$361K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008797	−0.016%	$297	—	10x	as long as short
dYdX PENGU-USD	+0.0312%	1h	0.008797	−0.015%	$12K	$4K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0708%	1h	0.008773	−0.290%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.915%	$95K	$94K	50x	as long as short