Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against BingX+0.023%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$460.456% of the position

Long on BingX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.087%−$9 · spread now +0.023%, 7d avg +0.024%

Together, before fees−0.087%+ Points / potential airdropPacifica: Active · farm board−$9 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENGU-USDT	0.008788	0.0100	pay 0.0050% / 4h	1h 00m	—	$3.9M	—
Short	Pacifica PENGU	0.008790	0.0100	get 0.0013% / 1h	0m 44s	$152K	$239K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against BingX. 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 BingXbpFee PacificabpOrdersPrice spread, now +0.023%Rate

Funding earned: $0
Price spread: +0.023% → +0.024%: −$0.15
Slippage, 4 orders: −$27.61
Fee BingX: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$45.76
Costs to cover: 0.456%
Break-even: never at this rate

Slippage from BingX: live order book, 14 min ago; Pacifica: live order book, 17 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 BingX live order book, 14 min ago	0.57 bp	6.5 bp −$7	13.2 bp −$132	43.6 bp −$4,357	339.6 bp −$169.8K
Sell Pacifica live order book, 17 min ago	2.84 bp	16.6 bp −$17	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	−0.0607%	1h	0.008787	−0.007%	$367K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0270%	4h	0.008787	−0.011%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0204%	4h	0.008782	−0.068%	$22.8M	$36.5M	75x	as long as short
01 Exchange PENGUUSD	−0.0120%	1h	0.008785	−0.034%	$201	$59	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0092%	1h	0.008777	−0.125%	$19K	$9K	10x	as long as short
Variational Omni PENGU	−0.0087%	4h	0.008784	−0.042%	$802K	$802K	—	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008778	−0.119%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.011%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	+0.0054%	1h	0.008771	−0.193%	$683K	$760K	5x	as long as short
Backpack PENGU_USDC_PERP	+0.0076%	1h	0.008788	0.000%	$313K	$309K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENGU	+0.0096%	1h	0.008794	+0.068%	$308K	$737K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008777	−0.125%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008794	+0.068%	$8.5M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008799	+0.123%	$190K	$467K	20x	as long as short
Pacifica PENGUshort	+0.0100%	1h	0.008790	+0.023%	$152K	$239K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008789	+0.008%	$36.5M	$153.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008786	−0.023%	$7.6M	$47.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008790	+0.023%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008789	+0.011%	$12.6M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008792	+0.046%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008793	+0.057%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDTlong	+0.0100%	4h	0.008788	long leg	—	$3.9M	—
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008795	+0.074%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008782	−0.068%	$80K	$253K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008988	+2.276%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008774	−0.159%	$998	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008791	+0.034%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008786	−0.025%	$181K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008773	−0.171%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0122%	1h	0.008797	+0.099%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008770	−0.199%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008782	−0.068%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0711%	1h	0.008779	−0.102%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008914	+1.434%	$95K	$105K	50x	as long as short