PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0489%/8h= −53.6% APRnext payment −$0.61 per $10,000 · paid last 24h −0.013%

Price spread now: Kraken Futures against Pacifica+0.211%7-day average +0.078% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

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

Long on Pacifica Short on Kraken Futures

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)−0.102%−$10 · spread now +0.211%, 7d avg +0.078%

Together, before fees−0.049%+ Points / potential airdropPacifica: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.133% dearer against Pacifica than usual: you sell high and buy low (spread +0.211% now, against its 7-day average of +0.078%): +$13 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 22 hours. Mind the row above: over the last 7 days funding on this pair paid +0.053%, so the current rate has only just turned against you.

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	Pacifica PENGU	0.008861	0.0100	pay 0.0013% / 1h	16m 53s	$153K	$240K	5x
Short	Kraken Futures PF_PENGUUSD	0.008880	−0.0389	pay 0.0049% / 1h	16m 53s	$371K	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.211%Rate

Funding earned: −$102.77
Price spread: +0.211% → +0.078%: $13.33
Slippage, 4 orders: −$57.02
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$164.47
Costs to cover: 0.750%
Break-even: never at this rate

Slippage from Pacifica: live order book, 56 min ago; Kraken Futures: live order book, 2 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, 56 min ago	4.01 bp	11.3 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	12.96 bp	20.0 bp −$20	50.6 bp −$506	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_PENGUUSDshort	−0.0389%	1h	0.008880	+0.211%	$371K	$2.3M	50x
Gate PENGU_USDT	−0.0384%	4h	0.008888	+0.305%	$3.5M	$15.8M	75x	as long as short
01 Exchange PENGUUSD	−0.0208%	1h	0.008861	0.000%	$203	$59	5x	as long as short
Variational Omni PENGU	−0.0171%	4h	0.008882	+0.237%	$913K	$970K	—	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008869	+0.090%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008870	+0.097%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.813%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0076%	1h	0.008861	−0.003%	$12K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008872	+0.124%	$308K	$730K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008869	+0.090%	$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	0.008867	+0.068%	$702K	$766K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008881	+0.226%	$8.3M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008884	+0.264%	$190K	$465K	20x	as long as short
Pacifica PENGUlong	+0.0100%	1h	0.008861	long leg	$153K	$240K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008890	+0.327%	$37.3M	$155.4M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008886	+0.282%	$23.3M	$37.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008890	+0.327%	$7.7M	$47.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008870	+0.102%	$20K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008888	+0.305%	$13.1M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008886	+0.282%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008890	+0.327%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008877	+0.181%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008874	+0.147%	$305K	$323K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008865	+0.051%	$470K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008887	+0.293%	$81K	$255K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009078	+2.449%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008867	+0.068%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008882	+0.237%	$91K	$300K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008887	+0.289%	$183K	$935K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008859	−0.023%	$205K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008868	+0.077%	$299	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008882	+0.237%	$1.5M	$2.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0520% / S −0.0723%	1h	0.008868	+0.079%	$117K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008967	+1.196%	$95K	$104K	50x	as long as short