PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0297%/8h= +32.6% APRnext payment +$1.49 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Bybit+0.092%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.097%+$10 on $10k

Price spread, last 7 days−0.071%−$7 · spread now +0.092%, 7d avg +0.042%

Together, before fees+0.026%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and MEXC is 0.050% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.042%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.097% in total (about 5.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.49 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PENGUUSDT	0.008661	−0.0197	get 0.0099% / 4h	2h 34m	$22.4M	$35.9M	75x
Short	MEXC PENGU_USDT	0.008669	0.0100	get 0.0050% / 4h	2h 34m	$12.9M	$12.7M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bybit. 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 BybitbpFee MEXCbpOrdersPrice spread, now +0.092%Rate

Funding earned: $62.44
Price spread: +0.092% → +0.042%: $5.02
Slippage, 4 orders: −$20.86
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 0 bp × 2 orders: $0
Net: $35.6
Costs to cover: 0.319%
Break-even: 3.0 days

Slippage from Bybit: live order book, 5 min ago; MEXC: live order book, 4 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 Bybit live order book, 5 min ago	0.58 bp	9.1 bp −$9	10.3 bp −$103	94.2 bp −$9,420	doesn't fit
Sell MEXC live order book, 4 min ago	1.73 bp	3.0 bp −$3	21.4 bp −$214	70.6 bp −$7,057	136.6 bp −$68.3K

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
Kraken Futures PF_PENGUUSD	−0.0552%	1h	0.008671	+0.110%	$384K	$2.1M	50x	as long as short
Gate PENGU_USDT	−0.0372%	4h	0.008663	+0.023%	$3.4M	$15.4M	75x	as long as short
Bybit PENGUUSDTlong	−0.0197%	4h	0.008661	long leg	$22.4M	$35.9M	75x
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.623%	$3K	$81K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0096%	1h	0.008671	+0.115%	$19K	$9K	10x	as long as short
Backpack PENGU_USDC_PERP	−0.0091%	1h	0.008667	+0.069%	$309K	$315K	10x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008666	+0.062%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008671	+0.110%	$33K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0016%	1h	0.008670	+0.104%	$198	$59	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008668	+0.081%	$295K	$720K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0100%	1h	0.008663	+0.029%	$672K	$758K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008671	+0.115%	$8.6M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008670	+0.109%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008669	+0.092%	$143K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008668	+0.081%	$35.8M	$150.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008665	+0.046%	$7.7M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008670	+0.104%	$19K	$24K	5x	as long as short
MEXC PENGU_USDTshort	+0.0100%	4h	0.008669	+0.092%	$12.9M	$12.7M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008667	+0.069%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008671	+0.115%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008667	+0.069%	—	$3.9M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008647	−0.159%	$794K	$713K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008666	+0.058%	$453K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008672	+0.127%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008670	+0.104%	$21K	$184K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008878	+2.505%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008666	+0.058%	$982	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008687	+0.300%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008668	+0.081%	$177K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008665	+0.046%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008666	+0.055%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008675	+0.162%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0489% / S −0.0675%	1h	0.008670	+0.104%	$108K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008785	+1.432%	$92K	$96K	50x	as long as short