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% APRpaid last 24h +0.020%

Price spread now: Pacifica against Variational Omni+0.737%7-day average +0.049% · you sell dearer than you buy

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

Long on Variational Omni Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.037%+$4 on $10k

Price spread, last 4 days (all we have)−1.108%−$111 · spread now +0.737%, 7d avg +0.049%

Together, before fees−1.070%+ Points / potential airdropVariational Omni: Active · Pacifica: Active · farm board−$107 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 0.687% dearer against Variational Omni than usual: you sell high and buy low, +$69 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PENGU	0.008728	0.0100	pay 0.0050% / 4h	1h 22m	$868K	$985K	—
Short	Pacifica PENGU	0.008792	0.0100	get 0.0013% / 1h	22m 22s	$155K	$243K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Variational Omni. 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 Variational OmnibpFee PacificabpOrdersPrice spread, now +0.737%Rate

Funding earned: $0
Price spread: +0.737% → +0.049%: $68.72
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $60.72
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 42 min ago; Pacifica: live order book, 41 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 Variational Omni RFQ quote, 42 min ago	3.41 bp	doesn't fit	20.5 bp −$205	doesn't fit	doesn't fit
Sell Pacifica live order book, 41 min ago	2.27 bp	14.6 bp −$15	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
01 Exchange PENGUUSD	−0.0048%	1h	0.008795	+0.771%	$201	$64	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008785	+0.656%	$18K	$10K	10x	as long as short
Gate PENGU_USDT	+0.0006%	4h	0.008790	+0.714%	$3.4M	$15.6M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008793	+0.747%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.702%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008787	+0.679%	$312K	$710K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008786	+0.668%	$23K	$165K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008796	+0.782%	$590K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008793	+0.748%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008797	+0.790%	$121K	$578K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGUshort	+0.0100%	1h	0.008792	+0.737%	$155K	$243K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008793	+0.752%	$36.7M	$160.2M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008790	+0.714%	$23.3M	$38.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008790	+0.714%	$7.4M	$46.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008790	+0.714%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008795	+0.771%	$11.4M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008791	+0.725%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008793	+0.748%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008781	+0.611%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008779	+0.588%	$300K	$290K	10x	as long as short
Variational Omni PENGUlong	+0.0100%	4h	0.008728	long leg	$868K	$985K	—
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008728	+0.005%	$455K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008751	+0.267%	$80K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008996	+3.074%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008779	+0.588%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008804	+0.874%	$92K	$354K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008791	+0.727%	$185K	$945K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008775	+0.542%	$203K	—	3x	as long as short
dYdX PENGU-USD	+0.0220%	1h	0.008790	+0.716%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008788	+0.687%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008790	+0.714%	$1.5M	$3.4M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0556% / S −0.0662%	1h	0.008790	+0.714%	$132K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0647%	1h	0.008788	+0.694%	$353K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.742%	$95K	$94K	50x	as long as short