Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against Binance+0.011%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$460.463% of the position

Long on Binance Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 4 days (all we have)+0.043%+$4 · spread now +0.011%, 7d avg +0.025%

Together, before fees+0.065%+ Points / potential airdropPacifica: Active · farm board+$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENGUUSDT	0.008711	0.0100	pay 0.0050% / 4h	11m 44s	$36.0M	$155.0M	75x
Short	Pacifica PENGU	0.008712	0.0100	get 0.0013% / 1h	11m 44s	$150K	$239K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Binance. 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 BinancebpFee PacificabpOrdersPrice spread, now +0.011%Rate

Funding earned: $0
Price spread: +0.011% → +0.025%: −$1.35
Slippage, 4 orders: −$28.29
Fee Binance: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$47.64
Costs to cover: 0.463%
Break-even: never at this rate

Slippage from Binance: live order book, 1 min ago; Pacifica: live order book, 1 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 Binance live order book, 1 min ago	0.57 bp	8.2 bp −$8	15.3 bp −$153	70.1 bp −$7,010	doesn't fit
Sell Pacifica live order book, 1 min ago	4.01 bp	18.2 bp −$18	doesn't fit	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
Kraken Futures PF_PENGUUSD	−0.0343%	1h	0.008728	+0.198%	$366K	$2.3M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0323%	1h	0.008722	+0.126%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0320%	4h	0.008704	−0.080%	$22.7M	$36.9M	75x	as long as short
Gate PENGU_USDT	−0.0308%	4h	0.008717	+0.069%	$3.4M	$15.7M	75x	as long as short
Variational Omni PENGU	−0.0295%	4h	0.008731	+0.232%	$767K	$832K	—	as long as short
01 Exchange PENGUUSD	−0.0272%	1h	0.008719	+0.092%	$199	$59	5x	as long as short
Backpack PENGU_USDC_PERP	−0.0183%	1h	0.008719	+0.092%	$306K	$315K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.895%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	−0.0020%	1h	0.008729	+0.201%	$694K	$777K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008729	+0.207%	$33K	—	150x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENGU-USD	+0.0019%	1h	0.008716	+0.062%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0084%	4h	0.008741	+0.344%	$457K	$2.1M	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008712	+0.011%	$305K	$741K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008723	+0.138%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008716	+0.057%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008727	+0.185%	$187K	$474K	20x	as long as short
Pacifica PENGUshort	+0.0100%	1h	0.008712	+0.011%	$150K	$239K	5x
Binance PENGUUSDTlong	+0.0100%	4h	0.008711	long leg	$36.0M	$155.0M	75x
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008702	−0.103%	$7.5M	$46.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008710	−0.011%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008711	0.000%	$12.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008712	+0.011%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008712	+0.011%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008702	−0.103%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008724	+0.149%	$79K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008935	+2.571%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008718	+0.080%	$998	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008749	+0.436%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008724	+0.147%	$180K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008717	+0.069%	$201K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008725	+0.166%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008721	+0.115%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008731	+0.230%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008768	+0.654%	$93K	$103K	50x	as long as short