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% APRpaid last 24h 0.000%

Price spread now: Pacifica against KuCoin+0.446%46s7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$620.625% of the position

Long on KuCoin Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.448%−$45 · spread now +0.446%, 7d avg −0.007%

Together, before fees−0.446%+ Points / potential airdropPacifica: Active · farm board−$45 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 0.453% dearer against KuCoin than usual: you sell high and buy low, +$45 on $10k if it goes back to its 7-day average of −0.007%. The two prices were read 46 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	KuCoin PENGUUSDTM	0.008740	0.0100	pay 0.0050% / 4h	1h 57m	$4.7M	$9.1M	75x
Short	Pacifica PENGU	0.008779	0.0100	get 0.0013% / 1h	57m 50s	$154K	$243K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against KuCoin. 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 KuCoinbpFee PacificabpOrdersPrice spread, now +0.446%Rate

Funding earned: $0
Price spread: +0.446% → −0.007%: $45.31
Slippage, 4 orders: −$42.48
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$17.17
Costs to cover: 0.625%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Pacifica: live order book, 5 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 KuCoin live order book, 5 min ago	1.71 bp	16.3 bp −$16	62.5 bp −$625	doesn't fit	doesn't fit
Sell Pacifica live order book, 5 min ago	2.27 bp	14.6 bp −$15	doesn't fit	doesn't fit	doesn't fit

PENGU on 33 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	0.0000%	1h	0.008759	+0.217%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008760	+0.234%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.561%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0088%	1h	0.008772	+0.366%	$201	$64	5x	as long as short
Gate PENGU_USDT	+0.0090%	4h	0.008734	−0.069%	$3.4M	$15.3M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008764	+0.275%	$311K	$707K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008758	+0.206%	$19K	$161K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008760	+0.235%	$590K	$987K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008745	+0.057%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008743	+0.037%	$132K	$523K	20x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGUshort	+0.0100%	1h	0.008779	+0.446%	$154K	$243K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008737	−0.034%	$37.1M	$156.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008732	−0.092%	$23.0M	$38.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008735	−0.057%	$7.5M	$46.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008770	+0.343%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008736	−0.046%	$11.8M	$12.3M	125x	as long as short
KuCoin PENGUUSDTMlong	+0.0100%	4h	0.008740	long leg	$4.7M	$9.1M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008738	−0.023%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008737	−0.034%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008749	+0.103%	$300K	$282K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008789	+0.560%	$874K	$987K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008798	+0.664%	$466K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008797	+0.652%	$80K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008967	+2.597%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008759	+0.217%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008774	+0.389%	$93K	$337K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008732	−0.086%	$183K	$941K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008755	+0.172%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0177%	1h	0.008780	+0.458%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008758	+0.201%	$296	—	10x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0582%	1h	0.008759	+0.217%	$119K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0649%	1h	0.008768	+0.318%	$360K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.597%	$95K	$94K	50x	as long as short