Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0311%/8h= +34.1% APRpaid last 24h +0.055%

Price spread now: MEXC against Deribit+0.012%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit PENGU_USDC-PERPETUAL	0.008664	−0.0211	get 0.0026% / 1h	32m 35s	$19K	$9K	10x
Short	MEXC PENGU_USDT	0.008665	0.0100	get 0.0050% / 4h	2h 32m	$12.9M	$12.7M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Deribit. 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 DeribitbpFee MEXCbpOrdersPrice spread, now +0.012%Rate

Funding earned: $65.31
Price spread: +0.012% → 0.000%: $1.15
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: $59.46
Costs to cover: 0.070%
Break-even: 0.6 days

Slippage unknown: Deribit: no order-book sample; MEXC: live order book, 6 min ago. Net counts fees only.

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 Deribit no order-book sample	—	—	—	—	—
Sell MEXC live order book, 6 min ago	1.73 bp	3.0 bp −$3	21.4 bp −$214	70.6 bp −$7,057	136.6 bp −$68.3K

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.008665	+0.011%	$384K	$2.1M	50x	as long as short
Gate PENGU_USDT	−0.0356%	4h	0.008659	−0.058%	$3.4M	$15.4M	75x	as long as short
Deribit PENGU_USDC-PERPETUALlong	−0.0211%	1h	0.008664	long leg	$19K	$9K	10x
Bybit PENGUUSDT	−0.0162%	4h	0.008656	−0.092%	$22.4M	$35.9M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.589%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0081%	1h	0.008658	−0.069%	$309K	$315K	10x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008666	+0.027%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008665	+0.012%	$33K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0016%	1h	0.008666	+0.023%	$198	$59	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008667	+0.035%	$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	0.008666	+0.023%	$672K	$758K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008671	+0.081%	$8.7M	$15.2M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008668	+0.043%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008665	+0.012%	$142K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008664	+0.004%	$35.8M	$150.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008660	−0.046%	$7.7M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008670	+0.069%	$19K	$24K	5x	as long as short
MEXC PENGU_USDTshort	+0.0100%	4h	0.008665	+0.012%	$12.9M	$12.7M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008664	0.000%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008668	+0.046%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008662	−0.023%	—	$3.9M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008647	−0.194%	$794K	$713K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008672	+0.091%	$454K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008672	+0.092%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008665	+0.012%	$21K	$184K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008872	+2.401%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008661	−0.035%	$978	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008687	+0.265%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008661	−0.040%	$177K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008660	−0.046%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008663	−0.014%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008664	0.000%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0489% / S −0.0675%	1h	0.008663	−0.012%	$108K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008785	+1.397%	$92K	$96K	50x	as long as short