PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.2196%/8h= −240.5% APRnext payment −$2.75 per $10,000 · paid last 24h −0.593%

Price spread now: Pacifica against Coinbase International−2.621%7-day average −0.775% · you buy dearer than you sell

Net, funding: paid 7d − costs−$403as in the Funding arb table

Net, price: spread back to 7d avg − costs−$413as in the Price arb table

costs, in and out, $10k−$2292.288% of the position

Long on Coinbase International Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−1.746%−$175 on $10k

Price spread, last 3 days (all we have)+1.916%+$192 · spread now −2.621%, 7d avg −0.775%

Together, before fees+0.170%+ Points / potential airdropPacifica: Active · farm board+$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$66 a day on $10k at the current rate, and Pacifica is 1.846% cheaper against Coinbase International than usual: you would sell low and buy high (−$185 if the spread goes back to its 7-day average of −0.775%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PENGU-PERP-INTX	0.008967	0.2296	pay 0.0287% / 1h	34m 55s	$95K	$94K	50x
Short	Pacifica PENGU	0.008732	0.0100	get 0.0013% / 1h	34m 55s	$154K	$243K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Coinbase International. 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 Coinbase InternationalbpFee PacificabpOrdersPrice spread, now −2.621%Rate

Funding earned: −$461.16
Price spread: −2.621% → −0.775%: −$184.62
Slippage, 4 orders: −$210.82
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$874.59
Costs to cover: 2.288%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 58 min ago; Pacifica: live order book, 28 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 Coinbase International live order book, 58 min ago	84.41 bp	112.0 bp −$112	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 28 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
01 Exchange PENGUUSD	−0.0040%	1h	0.008739	−2.543%	$200	$64	5x	as long as short
Gate PENGU_USDT	−0.0014%	4h	0.008743	−2.498%	$3.3M	$15.6M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008748	−2.442%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008748	−2.444%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.985%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008751	−2.409%	$311K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008748	−2.442%	$23K	$166K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008748	−2.442%	$8.1M	$14.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008746	−2.465%	$121K	$577K	20x	as long as short
Pacifica PENGUshort	+0.0100%	1h	0.008732	−2.621%	$154K	$243K	5x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008747	−2.452%	$36.5M	$160.0M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008739	−2.543%	$23.3M	$38.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008741	−2.520%	$7.5M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	−2.532%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008749	−2.431%	$11.5M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008746	−2.465%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008749	−2.431%	$8.2M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008743	−2.498%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008747	−2.453%	$300K	$275K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008738	−2.556%	$868K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008720	−2.758%	$466K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008717	−2.788%	$80K	$243K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008741	−2.515%	$586K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008956	−0.123%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008747	−2.453%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008772	−2.175%	$91K	$348K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008739	−2.548%	$180K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008738	−2.554%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0189%	1h	0.008729	−2.657%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008742	−2.508%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008744	−2.487%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0582%	1h	0.008747	−2.453%	$119K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0650%	1h	0.008750	−2.415%	$354K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTXlong	+0.2296%	1h	0.008967	long leg	$95K	$94K	50x