Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against Bitget+0.104%7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$500.499% of the position

Long on Bitget 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)−0.233%−$23 · spread now +0.104%, 7d avg −0.028%

Together, before fees−0.233%+ Points / potential airdropPacifica: Active · farm board−$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.131% dearer against Bitget than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENGUUSDT	0.008690	0.0100	pay 0.0050% / 4h	3h 15m	$8.1M	$12.1M	75x
Short	Pacifica PENGU	0.008699	0.0100	get 0.0013% / 1h	15m 12s	$147K	$228K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Bitget. 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 BitgetbpFee PacificabpOrdersPrice spread, now +0.104%Rate

Funding earned: $0
Price spread: +0.104% → −0.028%: $13.12
Slippage, 4 orders: −$29.93
Fee Bitget: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$36.81
Costs to cover: 0.499%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Pacifica: live order book, 12 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 Bitget live order book, 3 min ago	0.57 bp	14.5 bp −$15	25.4 bp −$254	doesn't fit	doesn't fit
Sell Pacifica live order book, 12 min ago	1.71 bp	10.8 bp −$11	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	−0.0272%	1h	0.008696	+0.074%	$400K	$2.1M	50x	as long as short
Gate PENGU_USDT	−0.0230%	4h	0.008679	−0.127%	$3.4M	$15.1M	75x	as long as short
Injective PENGU/USDC PERP	−0.0151%	1h	0.008884	+2.232%	$3K	$51K	5.5x	as long as short
01 Exchange PENGUUSD	−0.0024%	1h	0.008689	−0.012%	$199	$59	5x	as long as short
Bybit PENGUUSDT	−0.0020%	4h	0.008675	−0.173%	$22.9M	$34.6M	75x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008698	+0.098%	$11K	$5K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008687	−0.035%	$21K	$8K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008688	−0.027%	$33K	—	150x	as long as short
Lighter PENGU	+0.0096%	1h	0.008684	−0.069%	$300K	$697K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008692	+0.023%	$9.0M	$14.6M	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008690	−0.003%	$172K	$415K	20x	as long as short
Pacifica PENGUshort	+0.0100%	1h	0.008699	+0.104%	$147K	$228K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008683	−0.081%	$36.4M	$148.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008681	−0.104%	$7.8M	$46.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008690	0.000%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008684	−0.069%	$13.2M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008683	−0.081%	$4.9M	$8.6M	75x	as long as short
Bitget PENGUUSDTlong	+0.0100%	4h	0.008690	long leg	$8.1M	$12.1M	75x
BingX PENGU-USDT	+0.0100%	4h	0.008683	−0.081%	—	$4.0M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008697	+0.081%	$311K	$320K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008686	−0.050%	$859K	$648K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008694	+0.046%	$455K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008695	+0.058%	$79K	$254K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008690	0.000%	$672K	$753K	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008688	−0.023%	$21K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008889	+2.290%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008686	−0.046%	$995	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008710	+0.230%	$96K	$239K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008686	−0.043%	$178K	$680K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008685	−0.058%	$201K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008686	−0.041%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008685	−0.058%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0489% / S −0.0675%	1h	0.008686	−0.046%	$109K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.3264%	1h	0.008903	+2.451%	$94K	$97K	50x	as long as short