Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against Bitget−0.237%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$560.557% of the position

Long on Bitget 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)+0.195%+$20 · spread now −0.237%, 7d avg −0.028%

Together, before fees+0.195%+ Points / potential airdropPacifica: Active · farm board+$20 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 0.208% cheaper against Bitget than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENGUUSDT	0.008874	0.0100	pay 0.0050% / 4h	2h 20m	$8.5M	$13.4M	75x
Short	Pacifica PENGU	0.008853	0.0100	get 0.0013% / 1h	20m 01s	$134K	$274K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Bitget. 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 BitgetbpFee PacificabpOrdersPrice spread, now −0.237%Rate

Funding earned: $0
Price spread: −0.237% → −0.028%: −$20.85
Slippage, 4 orders: −$35.73
Fee Bitget: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$76.57
Costs to cover: 0.557%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Pacifica: live order book, 28 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 Bitget live order book, 4 min ago	1.14 bp	14.6 bp −$15	28.7 bp −$287	95.0 bp −$9,503	doesn't fit
Sell Pacifica live order book, 28 min ago	3.40 bp	10.6 bp −$11	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008858	−0.184%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.958%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008863	−0.124%	$321K	$750K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008855	−0.214%	$594K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008869	−0.056%	$8.1M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008863	−0.122%	$122K	$667K	20x	as long as short
Pacifica PENGUshort	+0.0100%	1h	0.008853	−0.237%	$134K	$274K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008870	−0.042%	$37.4M	$177.4M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008866	−0.090%	$23.5M	$42.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008870	−0.045%	$7.5M	$51.4M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.008860	−0.158%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008863	−0.124%	$3.3M	$16.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008863	−0.124%	$10.5M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008863	−0.124%	$4.9M	$9.7M	75x	as long as short
Bitget PENGUUSDTlong	+0.0100%	4h	0.008874	long leg	$8.5M	$13.4M	75x
BingX PENGU-USDT	+0.0100%	4h	0.008861	−0.146%	—	$3.7M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008864	−0.113%	$292K	$338K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008816	−0.654%	$920K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008765	−1.226%	$458K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008756	−1.330%	$79K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008857	−0.192%	$23K	$174K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009072	+2.231%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008860	−0.158%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008868	−0.068%	$92K	$392K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008860	−0.163%	$182K	$876K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008855	−0.214%	$205K	—	3x	as long as short
dYdX PENGU-USD	+0.0176%	1h	0.008848	−0.296%	$12K	$6K	5x	as long as short
01 Exchange PENGUUSD	+0.0184%	1h	0.008852	−0.248%	$203	$64	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0202%	1h	0.008861	−0.146%	$17K	$12K	10x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008855	−0.212%	$299	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0319%	1h	0.008866	−0.086%	$323K	$2.4M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008841	−0.372%	$1.5M	$4.7M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0503% / S −0.0466%	1h	0.008857	−0.192%	$123K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008845	−0.327%	$78K	$76K	50x	as long as short