Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Binance+0.034%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$240.239% of the position

Long on Binance Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days−0.044%−$4 · spread now +0.034%, 7d avg −0.003%

Together, before fees−0.044%−$4 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: MEXC is 0.037% dearer against Binance than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENGUUSDT	0.008707	0.0100	pay 0.0050% / 4h	52m 22s	$36.2M	$161.3M	75x
Short	MEXC PENGU_USDT	0.008710	0.0100	get 0.0050% / 4h	52m 22s	$11.1M	$12.2M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Binance. 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 BinancebpFee MEXCbpOrdersPrice spread, now +0.034%Rate

Funding earned: $0
Price spread: +0.034% → −0.003%: $3.73
Slippage, 4 orders: −$13.94
Fee Binance: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$20.21
Costs to cover: 0.239%
Break-even: never at this rate

Slippage from Binance: live order book, 6 min ago; MEXC: live order book, 1 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 Binance live order book, 6 min ago	0.57 bp	10.4 bp −$10	19.8 bp −$198	79.8 bp −$7,980	doesn't fit
Sell MEXC live order book, 1 min ago	0.57 bp	3.8 bp −$4	12.0 bp −$120	51.5 bp −$5,152	112.4 bp −$56.2K

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
ApeX Omni PENGUUSDT	−0.0359%	1h	0.008737	+0.345%	$80K	$242K	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008742	+0.402%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008709	+0.018%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0014%	4h	0.008710	+0.034%	$3.3M	$15.5M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.942%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0056%	1h	0.008704	−0.034%	$199	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008720	+0.149%	$310K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008709	+0.023%	$23K	$132K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008707	0.000%	$583K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008713	+0.069%	$8.1M	$14.7M	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008717	+0.118%	$120K	$579K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008722	+0.172%	$153K	$243K	5x	as long as short
Binance PENGUUSDTlong	+0.0100%	4h	0.008707	long leg	$36.2M	$161.3M	75x
Bybit PENGUUSDT	+0.0100%	4h	0.008703	−0.046%	$23.0M	$39.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008704	−0.034%	$7.2M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008710	+0.034%	$19K	$23K	5x	as long as short
MEXC PENGU_USDTshort	+0.0100%	4h	0.008710	+0.034%	$11.1M	$12.2M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008714	+0.080%	$4.8M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008706	−0.011%	$8.2M	$12.2M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008696	−0.126%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008740	+0.379%	$298K	$295K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008747	+0.460%	$870K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008757	+0.572%	$460K	$2.1M	10x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008944	+2.722%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008741	+0.390%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008742	+0.402%	$91K	$372K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008702	−0.056%	$184K	$942K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008700	−0.080%	$201K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008709	+0.020%	$294	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008736	+0.333%	$1.5M	$3.5M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0366%	1h	0.008751	+0.506%	$342K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0451%	1h	0.008725	+0.201%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0509% / S −0.0439%	1h	0.008707	0.000%	$128K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008967	+2.986%	$95K	$61K	50x	as long as short