Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against GRVT+0.200%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

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

costs, in and out, $10k−$540.539% of the position

Long on GRVT Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 4 days (all we have)−0.121%−$12 · spread now +0.200%, 7d avg +0.029%

Together, before fees−0.067%+ Points / potential airdropGRVT: Active · Pacifica: Active · farm board−$7 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 0.171% dearer against GRVT than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT PENGU_USDT_Perp	0.009099	0.0100	pay 0.0050% / 4h	1h 50m	$481K	$2.1M	10x
Short	Pacifica PENGU	0.009117	0.0100	get 0.0013% / 1h	50m 47s	$140K	$289K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against GRVT. 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 GRVTbpFee PacificabpOrdersPrice spread, now +0.200%Rate

Funding earned: $0
Price spread: +0.200% → +0.029%: $17.14
Slippage, 4 orders: −$36.92
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$36.78
Costs to cover: 0.539%
Break-even: never at this rate

Slippage from GRVT: live order book, 3 min ago; Pacifica: live order book, 57 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 GRVT live order book, 3 min ago	0.55 bp	15.0 bp −$15	24.4 bp −$244	doesn't fit	doesn't fit
Sell Pacifica live order book, 57 min ago	3.40 bp	10.6 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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009137	+0.420%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.405%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009154	+0.607%	$331K	$763K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009130	+0.343%	$642K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009159	+0.657%	$122K	$691K	20x	as long as short
Pacifica PENGUshort	+0.0100%	1h	0.009117	+0.200%	$140K	$289K	5x
Binance PENGUUSDT	+0.0100%	4h	0.009168	+0.764%	$39.9M	$185.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009161	+0.684%	$24.3M	$43.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009166	+0.739%	$8.1M	$54.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009120	+0.233%	$19K	$26K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENGU_USDT	+0.0100%	4h	0.009161	+0.684%	$3.5M	$17.0M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009164	+0.717%	$11.3M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009160	+0.673%	$5.3M	$9.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009173	+0.816%	$8.8M	$13.8M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009160	+0.673%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009150	+0.563%	$315K	$361K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009134	+0.387%	$931K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perplong	+0.0100%	4h	0.009099	long leg	$481K	$2.1M	10x
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009093	−0.064%	$80K	$251K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009136	+0.409%	$23K	$201K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009352	+2.783%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009140	+0.453%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009135	+0.398%	$94K	$401K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009159	+0.657%	$189K	$846K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009133	+0.376%	$211K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009135	+0.395%	$308	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009151	+0.574%	$1.6M	$4.9M	75x	as long as short
01 Exchange PENGUUSD	+0.0360%	1h	0.009127	+0.310%	$209	$64	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0391% / S −0.0291%	1h	0.009138	+0.431%	$93K	—	100x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0407%	1h	0.009141	+0.464%	$1K	$29K	10x	as long as short
Hyperliquid PENGU	+0.0574%	1h	0.009177	+0.860%	$9.5M	$16.0M	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0667%	1h	0.009148	+0.546%	$340K	$2.5M	50x	as long as short
dYdX PENGU-USD	+0.0771%	1h	0.009113	+0.152%	$12K	$6K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009185	+0.948%	$81K	$69K	50x	as long as short