Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Pacifica against ApeX Omni−0.334%51s7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$640.643% of the position

Long on ApeX Omni Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 3 days (all we have)+0.157%+$16 · spread now −0.334%, 7d avg −0.025%

Together, before fees+0.168%+ Points / potential airdropPacifica: Active · farm board+$17 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 0.309% cheaper against ApeX Omni than usual: you would sell low and buy high, −$31 on $10k if it goes back to its 7-day average of −0.025%. The two prices were read 51 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	ApeX Omni PENGUUSDT	0.008681	0.0100	pay 0.0013% / 1h	11m 49s	$79K	$253K	50x
Short	Pacifica PENGU	0.008652	0.0100	get 0.0013% / 1h	11m 49s	$146K	$236K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against ApeX 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 ApeX OmnibpFee PacificabpOrdersPrice spread, now −0.334%Rate

Funding earned: $0
Price spread: −0.334% → −0.025%: −$30.9
Slippage, 4 orders: −$46.26
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$95.16
Costs to cover: 0.643%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 10 min ago; Pacifica: live order book, 11 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 ApeX Omni live order book, 10 min ago	7.46 bp	14.6 bp −$15	112.8 bp −$1,128	doesn't fit	doesn't fit
Sell Pacifica live order book, 11 min ago	2.87 bp	12.0 bp −$12	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
Kraken Futures PF_PENGUUSD	−0.0552%	1h	0.008663	−0.212%	$384K	$2.1M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0443%	1h	0.008654	−0.311%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0272%	4h	0.008649	−0.369%	$3.4M	$15.4M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.392%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0042%	1h	0.008650	−0.357%	$309K	$314K	10x	as long as short
01 Exchange PENGUUSD	0.0000%	1h	0.008652	−0.334%	$198	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008656	−0.284%	$33K	—	150x	as long as short
dYdX PENGU-USD	+0.0007%	1h	0.008657	−0.282%	$11K	$4K	5x	as long as short
Bybit PENGUUSDT	+0.0037%	4h	0.008644	−0.426%	$22.5M	$36.0M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008653	−0.323%	$296K	$723K	8x	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	0.008650	−0.357%	$671K	$756K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008657	−0.276%	$8.6M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008656	−0.293%	$171K	$448K	20x	as long as short
Pacifica PENGUshort	+0.0100%	1h	0.008652	−0.334%	$146K	$236K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008653	−0.323%	$35.8M	$151.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008651	−0.346%	$7.6M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008650	−0.357%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008653	−0.323%	$12.7M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008655	−0.300%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008658	−0.265%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008640	−0.472%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008675	−0.068%	$797K	$715K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008682	+0.015%	$454K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDTlong	+0.0100%	1h	0.008681	long leg	$79K	$253K	50x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008655	−0.300%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008862	+2.085%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008651	−0.346%	$990	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008675	−0.069%	$91K	$250K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008651	−0.349%	$178K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008650	−0.357%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008651	−0.348%	$292	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008663	−0.207%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0501% / S −0.0703%	1h	0.008656	−0.288%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008728	+0.541%	$94K	$97K	50x	as long as short