Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: OKX against Pacifica0.000%49s7-day average −0.023% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Pacifica Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.055%−$5 on $10k

Price spread, last 4 days (all we have)−0.034%−$3 · spread now 0.000%, 7d avg −0.023%

Together, before fees−0.089%+ Points / potential airdropPacifica: Active · farm board−$9 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: OKX is 0.023% dearer against Pacifica than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.023%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica PENGU	0.009153	0.0100	pay 0.0013% / 1h	21m 48s	$138K	$267K	5x
Short	OKX PENGU-USDT-SWAP	0.009153	0.0100	get 0.0050% / 4h	21m 48s	$8.2M	$57.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.023%: $2.27
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$15.73
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 16 min ago; OKX: live order book, 2 min ago. Net counts fees only.

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, 16 min ago	3.28 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.55 bp	12.4 bp −$12	33.3 bp −$333	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	0.009152	−0.015%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.977%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009170	+0.186%	$331K	$773K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009132	−0.229%	$643K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009167	+0.150%	$147K	$718K	20x	as long as short
Pacifica PENGUlong	+0.0100%	1h	0.009153	long leg	$138K	$267K	5x
Binance PENGUUSDT	+0.0100%	4h	0.009162	+0.101%	$40.4M	$193.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009152	−0.011%	$24.5M	$45.6M	75x	as long as short
OKX PENGU-USDT-SWAPshort	+0.0100%	4h	0.009153	0.000%	$8.2M	$57.1M	50x
Arcus PENGU-USD	+0.0100%	1h	0.009140	−0.142%	$18K	$25K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENGU_USDT	+0.0100%	4h	0.009155	+0.022%	$3.7M	$18.0M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009162	+0.098%	$11.4M	$13.1M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009150	−0.033%	$5.0M	$10.3M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009165	+0.131%	$9.0M	$14.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009149	−0.044%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009152	−0.011%	$317K	$382K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009119	−0.374%	$932K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009117	−0.393%	$478K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009121	−0.350%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009150	−0.033%	$24K	$290K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009374	+2.415%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009164	+0.120%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009170	+0.186%	$95K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009158	+0.050%	$188K	$744K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009147	−0.066%	$211K	—	3x	as long as short
Hyperliquid PENGU	+0.0172%	1h	0.009172	+0.208%	$9.3M	$16.6M	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0187%	1h	0.009158	+0.055%	$1K	$29K	10x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009144	−0.099%	$309	—	10x	as long as short
01 Exchange PENGUUSD	+0.0328%	1h	0.009159	+0.066%	$210	$41	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009179	+0.284%	$1.6M	$5.1M	75x	as long as short
dYdX PENGU-USD	+0.0387%	1h	0.009152	−0.014%	$12K	$6K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0435% / S −0.0352%	1h	0.009155	+0.022%	$105K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0533%	1h	0.009167	+0.152%	$354K	$2.6M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1928%	1h	0.009196	+0.470%	$81K	$74K	50x	as long as short