PENGU · Convergence Trade
Profit Calculator
This spread does not cover its own costs
The spread is 0.27%, but entry and exit cost 0.29% of the position. The trade is a loss at entry regardless of how the spread moves afterwards. Reduce the size, or pick another pair.
Three scenarios: the current spread 0.27% compresses to the target (0% = full convergence). Sized at $10,000 per leg.
| If spread converges to↓ target spread | 0% | 0.50% | 1.00% |
|---|---|---|---|
| Gross profit | +$26.90 | -$23.10 | -$73.10 |
| Round-trip fees | −$20.00 | −$20.00 | −$20.00 |
| Slippage(loading orderbook…) | — | — | — |
| Funding drag(est. 1h hold) | +$1.62 | +$1.62 | +$1.62 |
| Net potential | -$1.84 | -$51.84 | -$101.84 |
⏱ Hold time (estimated from history)
Exit target: spread compresses to the median 0.24% (full convergence to 0 is rare — holding to zero usually makes no sense).
Based on 56 comparable episodes over 1D. Check the position roughly every ~1h.
Estimate of historical spread behavior — not a guarantee of the future.
Spread Statistics
Window: 24h · 238 samples
Live spread — order book
on size $10,000Rebuilt from stored order books (last 3h) and updated every ~15s while the page is open. IN is the spread to open the position, OUT is the spread to close it; positive means the trade works in your favour. Both are walked for your position size, so they already include what depth costs you.
Backpack(cex)- Mark Price
- $0.009664
- Exchange Ticker
- PENGU_USDC_PERP
- Taker / Maker
- 0.05% / 0.02%
- Funding APR(1h)
- -101.18%
- OI
- $337.80K
- 24h Vol
- $591.71K
N1(dex)- Mark Price
- $0.009690
- Exchange Ticker
- PENGU
- Taker / Maker
- 0.05% / 0.01%
- Funding APR(1h)
- +40.32%
- OI
- $3.38K
- 24h Vol
- $3.51K
⚠ slippage not modeled (virtual liquidity / RFQ venue)
Trade Short235 long / 235 short samples · 2 days · auto-refresh every 30s