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: KuCoin against Pacifica−0.239%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

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

Long on Pacifica Short on KuCoin

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)+0.241%+$24 · spread now −0.239%, 7d avg +0.007%

Together, before fees+0.239%+ Points / potential airdropPacifica: Active · farm board+$24 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: KuCoin is 0.246% cheaper against Pacifica than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica PENGU	0.008779	0.0100	pay 0.0013% / 1h	58m 02s	$154K	$243K	5x
Short	KuCoin PENGUUSDTM	0.008758	0.0100	get 0.0050% / 4h	1h 58m	$4.7M	$9.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.239%Rate

Funding earned: $0
Price spread: −0.239% → +0.007%: −$24.61
Slippage, 4 orders: −$42.48
Fee Pacifica: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$87.1
Costs to cover: 0.625%
Break-even: never at this rate

Slippage from Pacifica: live order book, 5 min ago; KuCoin: 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 Pacifica live order book, 5 min ago	2.27 bp	12.0 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	1.71 bp	19.6 bp −$20	46.4 bp −$464	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	−0.228%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008760	−0.211%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.114%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0088%	1h	0.008772	−0.080%	$201	$64	5x	as long as short
Gate PENGU_USDT	+0.0090%	4h	0.008741	−0.433%	$3.4M	$15.3M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008764	−0.171%	$311K	$707K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008758	−0.239%	$19K	$161K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008760	−0.211%	$590K	$987K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008745	−0.387%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008761	−0.209%	$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 PENGUlong	+0.0100%	1h	0.008779	long leg	$154K	$243K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008735	−0.496%	$37.1M	$156.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008731	−0.547%	$23.0M	$38.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008734	−0.513%	$7.5M	$46.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008770	−0.103%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008747	−0.365%	$11.8M	$12.3M	125x	as long as short
KuCoin PENGUUSDTMshort	+0.0100%	4h	0.008758	−0.239%	$4.7M	$9.1M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.008741	−0.433%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008731	−0.547%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008749	−0.342%	$300K	$282K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008789	+0.113%	$874K	$987K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008798	+0.216%	$466K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008797	+0.205%	$80K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008967	+2.141%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008759	−0.228%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008774	−0.057%	$93K	$337K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008732	−0.530%	$183K	$941K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008755	−0.273%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0177%	1h	0.008780	+0.011%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008758	−0.245%	$296	—	10x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0582%	1h	0.008759	−0.228%	$119K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0649%	1h	0.008768	−0.127%	$360K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.141%	$95K	$94K	50x	as long as short