PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.001%

Price spread now: Lighter against Pacifica+0.205%7-day average +0.027% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$550.547% of the position

Long on Pacifica Short on Lighter

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.205%−$21 · spread now +0.205%, 7d avg +0.027%

Together, before fees−0.217%+ Points / potential airdropPacifica: Active · Lighter: Season 3 · farm board−$22 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: Lighter is 0.178% dearer against Pacifica than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica PENGU	0.008770	0.0100	pay 0.0013% / 1h	25m 22s	$150K	$238K	5x
Short	Lighter PENGU	0.008788	0.0096	get 0.0012% / 1h	25m 22s	$308K	$736K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.205%Rate

Funding earned: −$0.84
Price spread: +0.205% → +0.027%: $17.84
Slippage, 4 orders: −$46.71
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$37.71
Costs to cover: 0.547%
Break-even: never at this rate

Slippage from Pacifica: live order book, 58 min ago; Lighter: live order book, 54 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, 58 min ago	2.87 bp	22.5 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 54 min ago	2.30 bp	8.3 bp −$8	60.5 bp −$605	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	−0.0606%	1h	0.008797	+0.312%	$370K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0316%	4h	0.008780	+0.114%	$3.4M	$15.6M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0205%	1h	0.008787	+0.194%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0147%	4h	0.008780	+0.114%	$22.9M	$36.4M	75x	as long as short
01 Exchange PENGUUSD	−0.0080%	1h	0.008778	+0.091%	$201	$59	5x	as long as short
Variational Omni PENGU	+0.0001%	4h	0.008766	−0.041%	$801K	$802K	—	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008789	+0.219%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	−0.627%	$3K	$81K	5.5x	as long as short
Lighter PENGUshort	+0.0096%	1h	0.008788	+0.205%	$308K	$736K	8x
Hyperliquid PENGU	+0.0100%	1h	0.008785	+0.171%	$8.7M	$15.0M	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008787	+0.196%	$189K	$466K	20x	as long as short
Pacifica PENGUlong	+0.0100%	1h	0.008770	long leg	$150K	$238K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008785	+0.171%	$36.6M	$152.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008782	+0.137%	$7.7M	$47.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008780	+0.114%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008781	+0.125%	$12.7M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008782	+0.137%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008788	+0.205%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008771	+0.011%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008770	0.000%	$313K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008803	+0.376%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008808	+0.433%	$80K	$253K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008774	+0.051%	$683K	$759K	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008785	+0.171%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008987	+2.474%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008786	+0.182%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008802	+0.365%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008783	+0.152%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008785	+0.171%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0138%	1h	0.008778	+0.094%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008778	+0.091%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008782	+0.137%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0711%	1h	0.008790	+0.228%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	+1.995%	$95K	$105K	50x	as long as short