Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against KuCoin−0.011%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$710.713% of the position

Long on KuCoin Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now −0.011%, 7d avg −0.007%

Together, before fees+0.013%+ Points / potential airdropPacifica: Active · farm board+$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENGUUSDTM	0.008835	0.0100	pay 0.0050% / 4h	3h 28m	$4.7M	$9.0M	75x
Short	Pacifica PENGU	0.008834	0.0100	get 0.0013% / 1h	28m 38s	$152K	$238K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against KuCoin. 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 KuCoinbpFee PacificabpOrdersPrice spread, now −0.011%Rate

Funding earned: $0
Price spread: −0.011% → −0.007%: −$0.4
Slippage, 4 orders: −$51.29
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$71.7
Costs to cover: 0.713%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Pacifica: live order book, 44 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 KuCoin live order book, 5 min ago	1.13 bp	15.7 bp −$16	54.4 bp −$544	doesn't fit	doesn't fit
Sell Pacifica live order book, 44 min ago	4.01 bp	18.2 bp −$18	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	−0.0392%	1h	0.008829	−0.064%	$368K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0234%	4h	0.008829	−0.068%	$3.4M	$15.6M	75x	as long as short
01 Exchange PENGUUSD	−0.0224%	1h	0.008827	−0.091%	$202	$59	5x	as long as short
Variational Omni PENGU	−0.0221%	4h	0.008831	−0.044%	$871K	$933K	—	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0090%	1h	0.008823	−0.136%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008823	−0.133%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.521%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0084%	1h	0.008837	+0.020%	$12K	$4K	5x	as long as short
Nado PENGU-PERP	+0.0087%	1h	0.008823	−0.130%	$699K	$767K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008833	−0.023%	$308K	$728K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008822	−0.147%	$24K	$182K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008833	−0.023%	$8.3M	$15.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008835	−0.004%	$189K	$481K	20x	as long as short
Pacifica PENGUshort	+0.0100%	1h	0.008834	−0.011%	$152K	$238K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008828	−0.074%	$36.9M	$154.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008827	−0.091%	$23.2M	$37.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008831	−0.045%	$7.6M	$47.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008820	−0.170%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008830	−0.057%	$13.0M	$12.8M	125x	as long as short
KuCoin PENGUUSDTMlong	+0.0100%	4h	0.008835	long leg	$4.7M	$9.0M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008831	−0.045%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008823	−0.136%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008821	−0.158%	$306K	$322K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008836	+0.010%	$468K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008810	−0.283%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009033	+2.241%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008818	−0.192%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008843	+0.091%	$91K	$296K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008829	−0.072%	$182K	$973K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008813	−0.249%	$204K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008819	−0.183%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008816	−0.215%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0517% / S −0.0723%	1h	0.008823	−0.136%	$117K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008863	+0.317%	$94K	$103K	50x	as long as short