Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against OKX+0.160%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−$38as in the Price arb table

costs, in and out, $10k−$520.518% of the position

Long on OKX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$5 on $10k

Price spread, last 4 days (all we have)−0.108%−$11 · spread now +0.160%, 7d avg +0.024%

Together, before fees−0.054%+ Points / potential airdropPacifica: Active · farm board−$5 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 0.135% dearer against OKX than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PENGU-USDT-SWAP	0.008755	0.0100	pay 0.0050% / 4h	2h 42m	$7.5M	$50.2M	50x
Short	Pacifica PENGU	0.008769	0.0100	get 0.0013% / 1h	42m 31s	$133K	$274K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against OKX. 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 OKXbpFee PacificabpOrdersPrice spread, now +0.160%Rate

Funding earned: $0
Price spread: +0.160% → +0.024%: $13.55
Slippage, 4 orders: −$33.84
Fee OKX: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$38.3
Costs to cover: 0.518%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Pacifica: live order book, 6 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 OKX live order book, 1 min ago	0.57 bp	10.1 bp −$10	28.5 bp −$285	doesn't fit	doesn't fit
Sell Pacifica live order book, 6 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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008774	+0.217%	$17K	$12K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008775	+0.224%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.388%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008780	+0.286%	$318K	$749K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008753	−0.023%	$587K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008786	+0.354%	$8.0M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008762	+0.084%	$120K	$667K	20x	as long as short
Pacifica PENGUshort	+0.0100%	1h	0.008769	+0.160%	$133K	$274K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008759	+0.045%	$36.9M	$175.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008745	−0.114%	$23.2M	$41.7M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAPlong	+0.0100%	4h	0.008755	long leg	$7.5M	$50.2M	50x
Arcus PENGU-USD	+0.0100%	1h	0.008760	+0.057%	$19K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008761	+0.069%	$3.3M	$16.4M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008763	+0.091%	$10.4M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008777	+0.251%	$4.9M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008757	+0.023%	$8.4M	$13.2M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008754	−0.011%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008771	+0.183%	$291K	$337K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008796	+0.468%	$918K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008798	+0.491%	$460K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008802	+0.537%	$80K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008773	+0.206%	$23K	$153K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008991	+2.696%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008772	+0.194%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008789	+0.388%	$91K	$387K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008758	+0.035%	$181K	$866K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008765	+0.114%	$202K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0184%	1h	0.008763	+0.091%	$200	$64	5x	as long as short
dYdX PENGU-USD	+0.0196%	1h	0.008779	+0.270%	$12K	$6K	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008756	+0.011%	$296	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0322%	1h	0.008779	+0.275%	$322K	$2.4M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008781	+0.297%	$1.5M	$4.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0540% / S −0.0513%	1h	0.008773	+0.206%	$134K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008847	+1.051%	$93K	$58K	50x	as long as short