Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Pacifica against SoDEX−0.195%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.195% cheaper against SoDEX than usual: you would sell low and buy high, −$19 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX PENGU-USD	0.008731	0.0100	pay 0.0013% / 1h	41m 33s	$1K	$5K	5x
Short	Pacifica PENGU	0.008714	0.0100	get 0.0013% / 1h	41m 33s	$153K	$243K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against SoDEX. 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 SoDEXbpFee PacificabpOrdersPrice spread, now −0.195%Rate

Funding earned: $0
Price spread: −0.195% → 0.000%: −$19.47
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$35.47
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Pacifica: live order book, 21 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 SoDEX no order-book sample	—	—	—	—	—
Sell Pacifica live order book, 21 min ago	2.27 bp	14.6 bp −$15	doesn't fit	doesn't fit	doesn't fit

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0208%	1h	0.008727	−0.046%	$18K	$10K	10x	as long as short
01 Exchange PENGUUSD	−0.0016%	1h	0.008709	−0.252%	$199	$64	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008736	+0.055%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0008%	4h	0.008715	−0.183%	$3.3M	$15.6M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.664%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008716	−0.172%	$309K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008731	0.000%	$23K	$165K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008709	−0.252%	$8.1M	$14.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008718	−0.150%	$131K	$576K	20x	as long as short
Pacifica PENGUshort	+0.0100%	1h	0.008714	−0.195%	$153K	$243K	5x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008716	−0.172%	$36.4M	$159.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008717	−0.160%	$23.2M	$38.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008718	−0.149%	$7.4M	$46.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008720	−0.126%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008711	−0.229%	$11.5M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008717	−0.160%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008713	−0.206%	$8.2M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008703	−0.321%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008729	−0.023%	$299K	$275K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008701	−0.344%	$863K	$986K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008753	+0.257%	$457K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008758	+0.309%	$80K	$243K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008719	−0.137%	$585K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008940	+2.394%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USDlong	+0.0100%	1h	0.008731	long leg	$1K	$5K	5x
HTX PENGU-USDT	+0.0100%	4h	0.008774	+0.492%	$91K	$348K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008713	−0.209%	$180K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008720	−0.126%	$201K	—	3x	as long as short
dYdX PENGU-USD	+0.0203%	1h	0.008715	−0.181%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008731	−0.004%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008749	+0.206%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0582%	1h	0.008734	+0.034%	$119K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0651%	1h	0.008742	+0.123%	$358K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.703%	$95K	$94K	50x	as long as short