Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.006%

Price spread now: KuCoin against 01 Exchange+0.022%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on 01 Exchange Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and KuCoin is 0.022% dearer against 01 Exchange than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange PENGUUSD	0.008936	0.0088	pay 0.0011% / 1h	19m 30s	$204	$64	5x
Short	KuCoin PENGUUSDTM	0.008938	0.0100	get 0.0050% / 4h	3h 19m	$4.9M	$9.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against 01 Exchange. 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 01 ExchangebpFee KuCoinbpOrdersPrice spread, now +0.022%Rate

Funding earned: $2.52
Price spread: +0.022% → 0.000%: $2.24
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$14.24
Costs to cover: 0.190%
Break-even: 46.6 days

Slippage unknown: 01 Exchange: no order-book sample; KuCoin: live order book, 4 min ago. Net counts fees only.

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 01 Exchange no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 4 min ago	1.12 bp	12.9 bp −$13	46.4 bp −$464	doesn't fit	doesn't fit

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.008957	+0.235%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008950	+0.160%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.645%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0040%	4h	0.008921	−0.168%	$3.3M	$16.5M	75x	as long as short
dYdX PENGU-USD	+0.0046%	1h	0.008928	−0.094%	$12K	$5K	5x	as long as short
01 Exchange PENGUUSDlong	+0.0088%	1h	0.008936	long leg	$204	$64	5x
Lighter PENGU	+0.0096%	1h	0.008943	+0.078%	$326K	$752K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008923	−0.140%	$599K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008941	+0.056%	$8.5M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008933	−0.030%	$138K	$643K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008925	−0.123%	$136K	$273K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008933	−0.034%	$37.9M	$172.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008923	−0.145%	$23.7M	$41.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008928	−0.090%	$7.8M	$50.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008920	−0.179%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008921	−0.168%	$10.9M	$12.7M	125x	as long as short
KuCoin PENGUUSDTMshort	+0.0100%	4h	0.008938	+0.022%	$4.9M	$9.5M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008931	−0.056%	$8.6M	$13.0M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008931	−0.056%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008947	+0.123%	$299K	$328K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008908	−0.314%	$930K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008907	−0.329%	$474K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008925	−0.123%	$81K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008956	+0.224%	$23K	$109K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009167	+2.585%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008956	+0.224%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008966	+0.336%	$93K	$378K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008924	−0.134%	$184K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008949	+0.145%	$207K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008924	−0.138%	$301	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008911	−0.280%	$1.5M	$4.1M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0503% / S −0.0415%	1h	0.008951	+0.168%	$127K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0611%	1h	0.008962	+0.288%	$328K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.008982	+0.515%	$95K	$63K	50x	as long as short