PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0514%/8h= +56.3% APRnext payment +$0.64 per $10,000 · paid last 24h −0.002%

Price spread now: Kraken Futures against Pacifica−0.035%7-day average +0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$810.809% of the position

Long on Pacifica Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 4 days (all we have)+0.163%+$16 · spread now −0.035%, 7d avg +0.073%

Together, before fees+0.243%+ Points / potential airdropPacifica: Active · farm board+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.107% cheaper against Pacifica than usual: you would sell low and buy high (spread −0.035% now, against its 7-day average of +0.073%). If the spread goes back, that is −$11 on $10k: about 17 hours of funding at the current rate (+$15 a day). At the pace of the last 7 days (+0.080% in total) that is about 9.3 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.080% in total (about 4.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.64 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica PENGU	0.008917	0.0100	pay 0.0013% / 1h	26m 06s	$136K	$272K	5x
Short	Kraken Futures PF_PENGUUSD	0.008914	0.0614	get 0.0077% / 1h	26m 06s	$349K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Pacifica. 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 PacificabpFee Kraken FuturesbpOrdersPrice spread, now −0.035%Rate

Funding earned: $107.92
Price spread: −0.035% → +0.073%: −$10.74
Slippage, 4 orders: −$62.89
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $16.28
Costs to cover: 0.809%
Break-even: 5.9 days

Slippage from Pacifica: live order book, 27 min ago; Kraken Futures: live order book, 3 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 Pacifica live order book, 27 min ago	2.76 bp	19.0 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	8.94 bp	16.9 bp −$17	48.5 bp −$485	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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008906	−0.123%	$18K	$10K	10x	as long as short
Gate PENGU_USDT	+0.0002%	4h	0.008906	−0.123%	$3.3M	$16.4M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008905	−0.137%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.435%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0035%	1h	0.008923	+0.065%	$12K	$5K	5x	as long as short
01 Exchange PENGUUSD	+0.0080%	1h	0.008917	0.000%	$204	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008910	−0.079%	$324K	$751K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008900	−0.191%	$597K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008917	0.000%	$8.5M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008910	−0.075%	$137K	$642K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGUlong	+0.0100%	1h	0.008917	long leg	$136K	$272K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008906	−0.119%	$38.0M	$172.0M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008900	−0.191%	$23.7M	$41.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008905	−0.135%	$7.8M	$50.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008910	−0.079%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008909	−0.090%	$10.9M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008903	−0.157%	$5.0M	$9.5M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008911	−0.067%	$8.7M	$12.9M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008902	−0.168%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008901	−0.179%	$297K	$327K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009000	+0.930%	$939K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008959	+0.474%	$476K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009018	+1.133%	$82K	$251K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008908	−0.101%	$24K	$103K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009117	+2.243%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008905	−0.135%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008920	+0.034%	$92K	$379K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008901	−0.175%	$185K	$939K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008896	−0.236%	$205K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008902	−0.174%	$301	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008939	+0.247%	$1.5M	$4.1M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0415%	1h	0.008903	−0.157%	$127K	—	100x	as long as short
Kraken Futures PF_PENGUUSDshort	+0.0614%	1h	0.008914	−0.035%	$349K	$2.4M	50x
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.008940	+0.258%	$94K	$62K	50x	as long as short