Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Pacifica against ApeX Omni+0.194%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$580.577% of the position

Long on ApeX Omni Short on Pacifica

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)−0.530%−$53 · spread now +0.194%, 7d avg −0.033%

Together, before fees−0.519%+ Points / potential airdropPacifica: Active · farm board−$52 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 0.228% dearer against ApeX Omni than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni PENGUUSDT	0.008743	0.0100	pay 0.0013% / 1h	31m 35s	$80K	$243K	50x
Short	Pacifica PENGU	0.008760	0.0100	get 0.0013% / 1h	31m 35s	$154K	$243K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against ApeX Omni. 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 ApeX OmnibpFee PacificabpOrdersPrice spread, now +0.194%Rate

Funding earned: $0
Price spread: +0.194% → −0.033%: $22.78
Slippage, 4 orders: −$39.71
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$34.94
Costs to cover: 0.577%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 30 min ago; Pacifica: live order book, 31 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 ApeX Omni live order book, 30 min ago	7.39 bp	15.3 bp −$15	106.7 bp −$1,067	doesn't fit	doesn't fit
Sell Pacifica live order book, 31 min ago	2.27 bp	14.6 bp −$15	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
Deribit PENGU_USDC-PERPETUAL	−0.0093%	1h	0.008746	+0.034%	$18K	$10K	10x	as long as short
01 Exchange PENGUUSD	−0.0048%	1h	0.008763	+0.229%	$200	$64	5x	as long as short
Gate PENGU_USDT	−0.0014%	4h	0.008755	+0.137%	$3.3M	$15.6M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008752	+0.098%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.526%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008761	+0.206%	$311K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008749	+0.069%	$23K	$166K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008759	+0.183%	$587K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008761	+0.206%	$8.2M	$14.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008759	+0.181%	$121K	$577K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGUshort	+0.0100%	1h	0.008760	+0.194%	$154K	$243K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008762	+0.221%	$36.6M	$160.1M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008756	+0.149%	$23.3M	$38.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008759	+0.183%	$7.5M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008760	+0.194%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008759	+0.183%	$11.4M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008759	+0.183%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008762	+0.217%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008758	+0.172%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008746	+0.034%	$300K	$274K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008738	−0.060%	$868K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008750	+0.081%	$468K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDTlong	+0.0100%	1h	0.008743	long leg	$80K	$243K	50x
SunX PENGU-USDT	+0.0100%	4h	0.008961	+2.493%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008745	+0.023%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008773	+0.343%	$91K	$349K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008757	+0.166%	$180K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008737	−0.069%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0214%	1h	0.008755	+0.140%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008751	+0.087%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008744	+0.011%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0555% / S −0.0662%	1h	0.008751	+0.092%	$131K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0650%	1h	0.008754	+0.122%	$355K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.562%	$95K	$94K	50x	as long as short