Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Bitget−0.046%7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$330.330% of the position

Long on Bitget Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 7 days+0.012%+$1 · spread now −0.046%, 7d avg −0.053%

Together, before fees+0.001%$0 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PENGUUSDT	0.008766	0.0100	pay 0.0050% / 4h	2h 41m	$8.4M	$13.2M	75x
Short	MEXC PENGU_USDT	0.008762	0.0100	get 0.0050% / 4h	2h 41m	$10.4M	$12.6M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bitget. 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 BitgetbpFee MEXCbpOrdersPrice spread, now −0.046%Rate

Funding earned: $0
Price spread: −0.046% → −0.053%: $0.78
Slippage, 4 orders: −$20.98
Fee Bitget: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$32.2
Costs to cover: 0.330%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 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 Bitget live order book, 2 min ago	0.57 bp	12.4 bp −$12	35.7 bp −$357	103.7 bp −$10.4K	doesn't fit
Sell MEXC live order book, 1 min ago	0.57 bp	3.9 bp −$4	12.6 bp −$126	59.9 bp −$5,992	131.9 bp −$66.0K

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	0.0000%	1h	0.008768	+0.023%	$17K	$12K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008759	−0.078%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.262%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008768	+0.023%	$318K	$749K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008753	−0.148%	$587K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008772	+0.068%	$8.0M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008765	−0.014%	$120K	$667K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008769	+0.034%	$133K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008765	−0.012%	$37.0M	$175.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008757	−0.103%	$23.3M	$41.7M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008760	−0.068%	$7.5M	$50.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008760	−0.068%	$19K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008758	−0.091%	$3.3M	$16.4M	75x	as long as short
MEXC PENGU_USDTshort	+0.0100%	4h	0.008762	−0.046%	$10.4M	$12.6M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008761	−0.057%	$4.9M	$9.7M	75x	as long as short
Bitget PENGUUSDTlong	+0.0100%	4h	0.008766	long leg	$8.4M	$13.2M	75x
BingX PENGU-USDC	+0.0100%	4h	0.008750	−0.183%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008759	−0.080%	$290K	$337K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008796	+0.342%	$918K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008798	+0.365%	$460K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008802	+0.411%	$80K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008766	0.000%	$23K	$153K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008970	+2.327%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008769	+0.034%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008777	+0.125%	$91K	$387K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008757	−0.102%	$181K	$866K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008757	−0.103%	$202K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0184%	1h	0.008763	−0.034%	$200	$64	5x	as long as short
dYdX PENGU-USD	+0.0196%	1h	0.008779	+0.144%	$12K	$6K	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008756	−0.114%	$296	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0322%	1h	0.008774	+0.093%	$321K	$2.4M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008781	+0.171%	$1.5M	$4.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0525% / S −0.0491%	1h	0.008759	−0.080%	$129K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008812	+0.525%	$78K	$76K	50x	as long as short