Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.020%

Price spread now: GRVT against Pacifica−0.188%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$590.595% of the position

Long on Pacifica Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$9 on $10k

Price spread, last 4 days (all we have)+0.052%+$5 · spread now −0.188%, 7d avg −0.029%

Together, before fees−0.033%+ Points / potential airdropPacifica: Active · GRVT: Active · farm board−$3 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: GRVT is 0.159% cheaper against Pacifica than usual: you would sell low and buy high, −$16 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	Pacifica PENGU	0.008805	0.0100	pay 0.0013% / 1h	21m 05s	$151K	$238K	5x
Short	GRVT PENGU_USDT_Perp	0.008788	0.0100	get 0.0050% / 4h	1h 21m	$460K	$2.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Pacifica. 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 PacificabpFee GRVTbpOrdersPrice spread, now −0.188%Rate

Funding earned: $0
Price spread: −0.188% → −0.029%: −$15.87
Slippage, 4 orders: −$42.49
Fee Pacifica: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$75.36
Costs to cover: 0.595%
Break-even: never at this rate

Slippage from Pacifica: live order book, 62 min ago; GRVT: live order book, 3 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 Pacifica live order book, 62 min ago	2.87 bp	22.5 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 3 min ago	1.14 bp	8.7 bp −$9	31.2 bp −$312	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_PENGUUSD	−0.0605%	1h	0.008809	+0.042%	$369K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0292%	4h	0.008793	−0.136%	$3.4M	$15.6M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0204%	1h	0.008797	−0.091%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0147%	4h	0.008790	−0.170%	$22.9M	$36.5M	75x	as long as short
01 Exchange PENGUUSD	−0.0072%	1h	0.008805	0.000%	$201	$59	5x	as long as short
Variational Omni PENGU	+0.0001%	4h	0.008766	−0.438%	$801K	$802K	—	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008801	−0.042%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.182%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	+0.0094%	1h	0.008801	−0.045%	$685K	$759K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008798	−0.080%	$309K	$736K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008798	−0.080%	$8.7M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008804	−0.007%	$190K	$466K	20x	as long as short
Pacifica PENGUlong	+0.0100%	1h	0.008805	long leg	$151K	$238K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008795	−0.114%	$36.6M	$153.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008793	−0.136%	$7.7M	$47.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	−0.057%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008796	−0.102%	$12.7M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008801	−0.045%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008795	−0.114%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008787	−0.204%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008795	−0.114%	$314K	$309K	10x	as long as short
GRVT PENGU_USDT_Perpshort	+0.0100%	4h	0.008788	−0.188%	$460K	$2.3M	10x
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008792	−0.148%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008799	−0.068%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009011	+2.340%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008796	−0.102%	$997	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008816	+0.125%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008794	−0.127%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008795	−0.114%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0132%	1h	0.008814	+0.105%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008793	−0.136%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008797	−0.091%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0711%	1h	0.008801	−0.045%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	+1.590%	$95K	$105K	50x	as long as short