Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: HTX against Pacifica+0.179%7-day average +0.257% · you sell dearer than you buy

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$152as in the Price arb table

costs, in and out, $10k−$1441.443% of the position

Long on Pacifica Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.215%+$21 on $10k

Price spread, last 4 days (all we have)+0.041%+$4 · spread now +0.179%, 7d avg +0.257%

Together, before fees+0.256%+ Points / potential airdropPacifica: Active · farm board+$26 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: HTX is 0.079% cheaper against Pacifica than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.257%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica PENGU	0.008956	0.0100	pay 0.0013% / 1h	27m 51s	$137K	$272K	5x
Short	HTX PENGU-USDT	0.008972	0.0100	get 0.0050% / 4h	3h 27m	$93K	$379K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Pacifica. 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 PacificabpFee HTXbpOrdersPrice spread, now +0.179%Rate

Funding earned: $0
Price spread: +0.179% → +0.257%: −$7.88
Slippage, 4 orders: −$124.34
Fee Pacifica: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$152.22
Costs to cover: 1.443%
Break-even: never at this rate

Slippage from Pacifica: live order book, 25 min ago; HTX: live order book, 25 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 Pacifica live order book, 25 min ago	2.76 bp	19.0 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 25 min ago	8.81 bp	98.5 bp −$98	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
Gate PENGU_USDT	−0.0020%	4h	0.008942	−0.156%	$3.4M	$16.4M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008957	+0.011%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008954	−0.022%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.865%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0037%	1h	0.008945	−0.119%	$12K	$5K	5x	as long as short
01 Exchange PENGUUSD	+0.0080%	1h	0.008945	−0.123%	$205	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008955	−0.011%	$326K	$751K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008941	−0.162%	$600K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008955	−0.011%	$8.5M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008949	−0.075%	$138K	$642K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGUlong	+0.0100%	1h	0.008956	long leg	$137K	$272K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008947	−0.100%	$38.3M	$171.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008938	−0.201%	$23.8M	$41.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008943	−0.145%	$7.8M	$50.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008960	+0.045%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008945	−0.123%	$11.0M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008943	−0.145%	$5.0M	$9.4M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008951	−0.056%	$8.7M	$12.9M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008941	−0.167%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008942	−0.156%	$299K	$327K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009000	+0.490%	$939K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009016	+0.672%	$470K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009018	+0.692%	$82K	$251K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008957	+0.011%	$24K	$102K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009172	+2.412%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008961	+0.056%	$1K	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.008972	+0.179%	$93K	$379K	25x
Extended PENGU-USD	+0.0104%	1h	0.008940	−0.180%	$186K	$939K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008950	−0.067%	$207K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008942	−0.156%	$302	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008960	+0.045%	$1.5M	$4.2M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0503% / S −0.0415%	1h	0.008952	−0.045%	$127K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0610%	1h	0.008965	+0.099%	$351K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.009007	+0.569%	$95K	$62K	50x	as long as short