PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0487%/8h= +53.3% APRnext payment +$0.61 per $10,000 · paid last 24h +0.013%

Price spread now: Pacifica against Kraken Futures−0.559%7-day average −0.078% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$750.750% of the position

Long on Kraken Futures Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 3 days (all we have)+0.450%+$45 · spread now −0.559%, 7d avg −0.078%

Together, before fees+0.396%+ Points / potential airdropPacifica: Active · farm board+$40 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.481% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.559% now, against its 7-day average of −0.078%). If the spread goes back, that is −$48 on $10k: about 3.3 days of funding at the current rate (+$15 a day). Mind the row above: over the last 7 days funding on this pair cost −0.053%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.053% in total (about -2.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.61 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_PENGUUSD	0.008946	−0.0387	get 0.0048% / 1h	15m 50s	$373K	$2.3M	50x
Short	Pacifica PENGU	0.008896	0.0100	get 0.0013% / 1h	15m 50s	$153K	$240K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Kraken Futures. 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 Kraken FuturesbpFee PacificabpOrdersPrice spread, now −0.559%Rate

Funding earned: $102.17
Price spread: −0.559% → −0.078%: −$48.1
Slippage, 4 orders: −$57.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$20.95
Costs to cover: 0.750%
Break-even: 8.4 days

Slippage from Kraken Futures: 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 Kraken Futures live order book, 3 min ago	12.96 bp	25.6 bp −$26	62.5 bp −$625	doesn't fit	doesn't fit
Sell Pacifica live order book, 57 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_PENGUUSDlong	−0.0387%	1h	0.008946	long leg	$373K	$2.3M	50x
Gate PENGU_USDT	−0.0348%	4h	0.008935	−0.123%	$3.5M	$15.8M	75x	as long as short
01 Exchange PENGUUSD	−0.0208%	1h	0.008909	−0.413%	$204	$59	5x	as long as short
Variational Omni PENGU	−0.0157%	4h	0.008900	−0.513%	$913K	$970K	—	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008936	−0.111%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008926	−0.228%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.755%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0081%	1h	0.008896	−0.555%	$12K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008939	−0.078%	$310K	$730K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008935	−0.123%	$24K	$175K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0100%	1h	0.008906	−0.450%	$705K	$766K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008945	−0.011%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008942	−0.041%	$192K	$465K	20x	as long as short
Pacifica PENGUshort	+0.0100%	1h	0.008896	−0.559%	$153K	$240K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008942	−0.044%	$37.6M	$155.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008936	−0.111%	$23.5M	$37.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008939	−0.078%	$7.7M	$48.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008900	−0.514%	$20K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008941	−0.056%	$13.1M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008940	−0.067%	$4.8M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008946	0.000%	$8.5M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008928	−0.201%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008938	−0.089%	$307K	$323K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008865	−0.900%	$470K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008887	−0.659%	$81K	$255K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009148	+2.258%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008934	−0.134%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008942	−0.044%	$92K	$300K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008940	−0.072%	$184K	$935K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008934	−0.134%	$206K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008912	−0.376%	$301	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008882	−0.715%	$1.5M	$2.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0521% / S −0.0723%	1h	0.008926	−0.223%	$118K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008826	−1.341%	$94K	$102K	50x	as long as short