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 OKX−0.046%49s7-day average +0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as 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−$510.506% of the position

Long on OKX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 4 days (all we have)+0.136%+$14 · spread now −0.046%, 7d avg +0.025%

Together, before fees+0.194%+ Points / potential airdropPacifica: Active · farm board+$19 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 0.070% cheaper against OKX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.025%. 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	OKX PENGU-USDT-SWAP	0.008758	0.0100	pay 0.0050% / 4h	1h 31m	$7.5M	$46.4M	50x
Short	Pacifica PENGU	0.008754	0.0100	get 0.0013% / 1h	31m 54s	$154K	$243K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against OKX. 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 OKXbpFee PacificabpOrdersPrice spread, now −0.046%Rate

Funding earned: $0
Price spread: −0.046% → +0.025%: −$7.04
Slippage, 4 orders: −$32.6
Fee OKX: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$57.65
Costs to cover: 0.506%
Break-even: never at this rate

Slippage from OKX: live order book, 2 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 OKX live order book, 2 min ago	0.57 bp	10.0 bp −$10	21.1 bp −$211	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	−0.137%	$18K	$10K	10x	as long as short
01 Exchange PENGUUSD	−0.0048%	1h	0.008757	−0.011%	$200	$64	5x	as long as short
Gate PENGU_USDT	−0.0022%	4h	0.008751	−0.080%	$3.3M	$15.6M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008752	−0.074%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.354%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008749	−0.103%	$311K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008749	−0.103%	$23K	$166K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008749	−0.097%	$587K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008751	−0.080%	$8.2M	$14.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008753	−0.052%	$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	0.008754	−0.046%	$154K	$243K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008758	0.000%	$36.6M	$160.1M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008753	−0.057%	$23.3M	$38.7M	75x	as long as short
OKX PENGU-USDT-SWAPlong	+0.0100%	4h	0.008758	long leg	$7.5M	$46.4M	50x
Arcus PENGU-USD	+0.0100%	1h	0.008760	+0.023%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008758	0.000%	$11.5M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008758	0.000%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008759	+0.011%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008756	−0.023%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008746	−0.137%	$300K	$274K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008738	−0.231%	$868K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008744	−0.162%	$467K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008743	−0.171%	$80K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008961	+2.318%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008745	−0.148%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008773	+0.171%	$91K	$349K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008755	−0.034%	$180K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008737	−0.240%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0212%	1h	0.008747	−0.123%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008751	−0.084%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008744	−0.160%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0555% / S −0.0662%	1h	0.008751	−0.080%	$131K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0650%	1h	0.008754	−0.049%	$355K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.386%	$95K	$94K	50x	as long as short