Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against BingX+0.120%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$500.504% of the position

Long on BingX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.184%−$18 · spread now +0.120%, 7d avg +0.023%

Together, before fees−0.184%+ Points / potential airdropPacifica: Active · farm board−$18 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 0.097% dearer against BingX than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENGU-USDT	0.009178	0.0100	pay 0.0050% / 4h	3h 12m	—	$3.7M	—
Short	Pacifica PENGU	0.009189	0.0100	get 0.0013% / 1h	12m 09s	$140K	$234K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against BingX. 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 BingXbpFee PacificabpOrdersPrice spread, now +0.120%Rate

Funding earned: $0
Price spread: +0.120% → +0.023%: $9.67
Slippage, 4 orders: −$32.37
Fee BingX: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$40.7
Costs to cover: 0.504%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Pacifica: live order book, 21 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 BingX live order book, 8 min ago	0.55 bp	8.6 bp −$9	14.1 bp −$141	48.1 bp −$4,807	370.5 bp −$185.2K
Sell Pacifica live order book, 21 min ago	2.76 bp	13.0 bp −$13	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
Gate PENGU_USDT	−0.0082%	4h	0.009177	−0.011%	$3.8M	$18.2M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009175	−0.032%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−4.238%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009185	+0.076%	$329K	$770K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009170	−0.084%	$650K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009192	+0.153%	$9.5M	$16.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009180	+0.025%	$132K	$771K	20x	as long as short
Pacifica PENGUshort	+0.0100%	1h	0.009189	+0.120%	$140K	$234K	5x
Binance PENGUUSDT	+0.0100%	4h	0.009181	+0.029%	$40.8M	$196.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009176	−0.022%	$24.8M	$47.1M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009177	−0.011%	$8.4M	$58.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009180	+0.022%	$19K	$26K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009183	+0.054%	$11.7M	$13.1M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009175	−0.033%	$5.0M	$10.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009188	+0.109%	$9.0M	$15.2M	75x	as long as short
BingX PENGU-USDTlong	+0.0100%	4h	0.009178	long leg	—	$3.7M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009180	+0.022%	$303K	$374K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009151	−0.292%	$946K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009152	−0.287%	$481K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009151	−0.294%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009184	+0.065%	$24K	$341K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009392	+2.332%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009180	+0.022%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009185	+0.076%	$96K	$417K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009178	+0.003%	$188K	$747K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009177	−0.011%	$212K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009158	−0.219%	$309	—	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0295%	1h	0.009183	+0.054%	$1K	$28K	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009170	−0.087%	$1.6M	$5.3M	75x	as long as short
01 Exchange PENGUUSD	+0.0352%	1h	0.009180	+0.022%	$210	$141	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0376%	1h	0.009184	+0.069%	$349K	$2.7M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0433% / S −0.0351%	1h	0.009174	−0.044%	$105K	—	100x	as long as short
dYdX PENGU-USD	+0.1513%	1h	0.009172	−0.064%	$22K	$18K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2088%	1h	0.009232	+0.588%	$79K	$85K	50x	as long as short