PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0571%/8h= −62.6% APRnext payment −$0.71 per $10,000 · paid last 24h −0.007%

Price spread now: Pacifica against Kraken Futures−0.319%7-day average −0.068% · 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−$89as in the Price arb table

costs, in and out, $10k−$640.644% of the position

Long on Kraken Futures Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.089%−$9 on $10k

Price spread, last 4 days (all we have)+0.210%+$21 · spread now −0.319%, 7d avg −0.068%

Together, before fees+0.122%+ Points / potential airdropPacifica: Active · farm board+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Pacifica is 0.251% cheaper against Kraken Futures than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.068%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.089% in total (about -4.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.71 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	Kraken Futures PF_PENGUUSD	0.009090	0.0671	pay 0.0084% / 1h	5m 58s	$337K	$2.5M	50x
Short	Pacifica PENGU	0.009061	0.0100	get 0.0013% / 1h	5m 58s	$137K	$260K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Kraken Futures. 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 Kraken FuturesbpFee PacificabpOrdersPrice spread, now −0.319%Rate

Funding earned: −$119.96
Price spread: −0.319% → −0.068%: −$25.1
Slippage, 4 orders: −$46.4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$209.46
Costs to cover: 0.644%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Pacifica: live order book, 37 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 Kraken Futures live order book, 3 min ago	2.76 bp	19.5 bp −$19	42.9 bp −$429	doesn't fit	doesn't fit
Sell Pacifica live order book, 37 min ago	2.20 bp	10.0 bp −$10	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009086	−0.039%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.312%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009093	+0.033%	$326K	$772K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009090	+0.005%	$641K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009083	−0.075%	$143K	$716K	20x	as long as short
Pacifica PENGUshort	+0.0100%	1h	0.009061	−0.319%	$137K	$260K	5x
Binance PENGUUSDT	+0.0100%	4h	0.009085	−0.055%	$39.6M	$190.0M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009076	−0.154%	$24.3M	$44.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009081	−0.099%	$8.0M	$55.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009100	+0.110%	$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	0.009087	−0.033%	$3.7M	$17.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009086	−0.044%	$11.0M	$13.0M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009090	0.000%	$5.1M	$10.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009089	−0.011%	$8.7M	$13.9M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009084	−0.066%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009090	0.000%	$297K	$368K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009045	−0.497%	$921K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009042	−0.527%	$474K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009053	−0.407%	$79K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009088	−0.022%	$23K	$243K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009316	+2.486%	$2K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009087	−0.033%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009113	+0.253%	$94K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009081	−0.097%	$186K	$523K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009075	−0.165%	$210K	—	3x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0190%	1h	0.009092	+0.022%	$1K	$29K	10x	as long as short
Hyperliquid PENGU	+0.0200%	1h	0.009099	+0.099%	$9.1M	$16.3M	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009093	+0.029%	$307	—	10x	as long as short
01 Exchange PENGUUSD	+0.0328%	1h	0.009102	+0.132%	$208	$60	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009063	−0.297%	$1.6M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0443% / S −0.0368%	1h	0.009052	−0.418%	$107K	—	100x	as long as short
dYdX PENGU-USD	+0.0562%	1h	0.009062	−0.312%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSDlong	+0.0671%	1h	0.009090	long leg	$337K	$2.5M	50x
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009135	+0.495%	$80K	$70K	50x	as long as short