Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.072%

Price spread now: BloFin against Pacifica−0.315%94s7-day average −0.024% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Pacifica Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.485%+$49 on $10k

Price spread, last 4 days (all we have)+0.365%+$37 · spread now −0.315%, 7d avg −0.024%

Together, before fees+0.851%+ Points / potential airdropPacifica: Active · farm board+$85 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.291% cheaper against Pacifica than usual: you would sell low and buy high (spread −0.315% now, against its 7-day average of −0.024%). If the spread goes back, that is −$29 on $10k: about 4.0 days of funding at the current rate (+$7 a day). The two prices were read 94 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica PENGU	0.008897	0.0100	pay 0.0013% / 1h	31m 35s	$134K	$224K	5x
Short	BloFin PENGU-USDT	0.008869	0.0340	get 0.0170% / 4h	1h 31m	$1.6M	$5.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Pacifica. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PacificabpFee BloFinbpOrdersPrice spread, now −0.315%Rate

Funding earned: $50.4
Price spread: −0.315% → −0.024%: −$29.09
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $1.31
Costs to cover: 0.200%
Break-even: 6.8 days

Slippage unknown: Pacifica: live order book, 14 min ago; BloFin: live order book, 10 min ago. Net counts fees only.

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 Pacifica live order book, 14 min ago	2.77 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 10 min ago	3.86 bp	10.7 bp −$11	15.1 bp −$151	36.0 bp −$3,597	doesn't fit

PENGU on 34 exchanges

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
dYdX PENGU-USD	0.0000%	1h	0.008882	−0.169%	$19K	$21K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008879	−0.202%	$1K	$27K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008880	−0.191%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.214%	$3K	$117K	5.5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0065%	1h	0.008893	−0.045%	$328K	$2.7M	50x	as long as short
01 Exchange PENGUUSD	+0.0080%	1h	0.008846	−0.573%	$202	$141	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008901	+0.045%	$318K	$709K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008902	+0.056%	$8.6M	$17.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008900	+0.037%	$107K	$786K	20x	as long as short
Pacifica PENGUlong	+0.0100%	1h	0.008897	long leg	$134K	$224K	5x

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008905	+0.086%	$38.5M	$195.0M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008899	+0.022%	$23.7M	$47.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008905	+0.090%	$8.3M	$55.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008900	+0.034%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008895	−0.022%	$3.6M	$18.2M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008898	+0.011%	$12.4M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008897	0.000%	$5.1M	$10.5M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008903	+0.067%	$8.5M	$14.1M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008890	−0.079%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008892	−0.056%	$296K	$367K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008914	+0.194%	$883K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008895	−0.022%	$463K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008910	+0.146%	$80K	$247K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008900	+0.034%	$635K	$1.1M	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008881	−0.180%	$23K	$357K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009091	+2.181%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008886	−0.124%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008896	−0.011%	$93K	$369K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008897	+0.001%	$179K	$742K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008883	−0.157%	$205K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.008886	−0.123%	$300	—	10x	as long as short
BloFin PENGU-USDTshort	+0.0340%	4h	0.008869	−0.315%	$1.6M	$5.4M	75x
GMX PENGU/USD [WBTC.b-USDC]	L +0.0431% / S −0.0359%	1h	0.008913	+0.180%	$103K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2136%	1h	0.008905	+0.090%	$81K	$92K	50x	as long as short