Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Pacifica against Arcus+0.045%7-day average — · you sell dearer than you buy

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

Long on Arcus Short on Pacifica

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—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.045% dearer against Arcus than usual: you sell high and buy low, +$5 on $10k if it 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	Arcus PENGU-USD	0.008850	0.0100	pay 0.0013% / 1h	5m 05s	$19K	$24K	5x
Short	Pacifica PENGU	0.008854	0.0100	get 0.0013% / 1h	5m 05s	$156K	$243K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Arcus. 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 ArcusbpFee PacificabpOrdersPrice spread, now +0.045%Rate

Funding earned: $0
Price spread: +0.045% → 0.000%: $4.52
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$7.98
Costs to cover: 0.125%
Break-even: never at this rate

Slippage unknown: Arcus: no order-book sample; Pacifica: live order book, 53 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 Arcus no order-book sample	—	—	—	—	—
Sell Pacifica live order book, 53 min ago	4.02 bp	20.0 bp −$20	doesn't fit	doesn't fit	doesn't fit

Arcus: 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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008875	+0.280%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.689%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008882	+0.362%	$316K	$720K	8x	as long as short
Gate PENGU_USDT	+0.0098%	4h	0.008866	+0.181%	$3.3M	$15.9M	75x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008881	+0.350%	$23K	$96K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008857	+0.085%	$595K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008872	+0.249%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008880	+0.343%	$127K	$599K	20x	as long as short
Pacifica PENGUshort	+0.0100%	1h	0.008854	+0.045%	$156K	$243K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008868	+0.202%	$37.7M	$165.9M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDT	+0.0100%	4h	0.008862	+0.136%	$23.5M	$39.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008859	+0.102%	$7.5M	$48.0M	50x	as long as short
Arcus PENGU-USDlong	+0.0100%	1h	0.008850	long leg	$19K	$24K	5x
MEXC PENGU_USDT	+0.0100%	4h	0.008871	+0.237%	$10.9M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008879	+0.328%	$4.8M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008872	+0.249%	$8.6M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008864	+0.158%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008870	+0.226%	$295K	$326K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008853	+0.033%	$922K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008865	+0.165%	$473K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008865	+0.169%	$80K	$242K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009073	+2.520%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008880	+0.339%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008884	+0.384%	$92K	$377K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008858	+0.096%	$183K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008876	+0.294%	$205K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0112%	1h	0.008866	+0.181%	$203	$64	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0200%	1h	0.008886	+0.407%	$18K	$10K	10x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008857	+0.082%	$299	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008877	+0.305%	$1.5M	$3.7M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0361%	1h	0.008886	+0.402%	$348K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0447%	1h	0.008849	−0.012%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0572%	1h	0.008877	+0.305%	$119K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008962	+1.266%	$95K	$63K	50x	as long as short