PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.001%

Price spread now: Pacifica against Lighter−0.068%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$570.567% of the position

Long on Lighter Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 4 days (all we have)+0.044%+$4 · spread now −0.068%, 7d avg −0.027%

Together, before fees+0.056%+ Points / potential airdropLighter: Season 3 · Pacifica: Active · farm board+$6 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 0.041% cheaper against Lighter than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter PENGU	0.008810	0.0096	pay 0.0012% / 1h	32m 09s	$311K	$707K	8x
Short	Pacifica PENGU	0.008804	0.0100	get 0.0013% / 1h	32m 09s	$155K	$245K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Lighter. 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 LighterbpFee PacificabpOrdersPrice spread, now −0.068%Rate

Funding earned: $0.84
Price spread: −0.068% → −0.027%: −$4.08
Slippage, 4 orders: −$48.65
Fee Lighter: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$59.89
Costs to cover: 0.567%
Break-even: 506.1 days

Slippage from Lighter: live order book, 33 min ago; Pacifica: live order book, 36 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 Lighter live order book, 33 min ago	3.92 bp	23.9 bp −$24	91.9 bp −$919	doesn't fit	doesn't fit
Sell Pacifica live order book, 36 min ago	3.36 bp	12.5 bp −$12	doesn't fit	doesn't fit	doesn't fit

PENGU on 33 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
Variational Omni PENGU	−0.0010%	4h	0.008770	−0.452%	$872K	$1.0M	—	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008812	+0.023%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008809	−0.008%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0016%	4h	0.008805	−0.057%	$3.4M	$15.5M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.238%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0072%	1h	0.008813	+0.034%	$202	$64	5x	as long as short
Lighter PENGUlong	+0.0096%	1h	0.008810	long leg	$311K	$707K	8x
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008810	0.000%	$19K	$168K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008817	+0.079%	$594K	$991K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008804	−0.068%	$8.3M	$14.9M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008817	+0.075%	$168K	$506K	20x	as long as short
Pacifica PENGUshort	+0.0100%	1h	0.008804	−0.068%	$155K	$245K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008804	−0.066%	$37.6M	$157.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008794	−0.182%	$23.0M	$38.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008799	−0.125%	$7.5M	$47.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008810	0.000%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008803	−0.079%	$12.0M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008810	0.000%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008802	−0.091%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008794	−0.182%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008803	−0.079%	$302K	$313K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008804	−0.068%	$472K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008802	−0.091%	$80K	$248K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009025	+2.440%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008809	−0.011%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008823	+0.148%	$94K	$337K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008808	−0.020%	$181K	$939K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008804	−0.068%	$203K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008818	+0.087%	$363K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008815	+0.052%	$298	—	10x	as long as short
dYdX PENGU-USD	+0.0239%	1h	0.008803	−0.084%	$12K	$4K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0513% / S −0.0708%	1h	0.008812	+0.023%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.782%	$95K	$100K	50x	as long as short