PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0490%/8h= +53.7% APRnext payment +$2.45 per $10,000 · paid last 24h +0.015%

Price spread now: MEXC against Gate+0.035%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$390.395% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.089%+$9 on $10k

Price spread, last 7 days−0.042%−$4 · spread now +0.035%, 7d avg −0.005%

Together, before fees+0.047%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and MEXC is 0.040% dearer against Gate than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.005%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.089% in total (about 4.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.45 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	Gate PENGU_USDT	0.008636	−0.0390	get 0.0195% / 4h	2h 39m	$3.4M	$15.3M	75x
Short	MEXC PENGU_USDT	0.008639	0.0100	get 0.0050% / 4h	2h 39m	$12.7M	$12.7M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Gate. 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 GatebpFee MEXCbpOrdersPrice spread, now +0.035%Rate

Funding earned: $102.9
Price spread: +0.035% → −0.005%: $4.02
Slippage, 4 orders: −$24.45
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 0 bp × 2 orders: $0
Net: $67.47
Costs to cover: 0.395%
Break-even: 2.4 days

Slippage from Gate: live order book, 4 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 Gate live order book, 4 min ago	4.04 bp	16.7 bp −$17	43.4 bp −$434	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.58 bp	4.1 bp −$4	13.1 bp −$131	57.8 bp −$5,780	118.7 bp −$59.3K

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	−0.0553%	1h	0.008644	+0.097%	$383K	$2.1M	50x	as long as short
Gate PENGU_USDTlong	−0.0390%	4h	0.008636	long leg	$3.4M	$15.3M	75x
Deribit PENGU_USDC-PERPETUAL	−0.0328%	1h	0.008644	+0.093%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0246%	4h	0.008636	0.000%	$22.5M	$35.8M	75x	as long as short
Backpack PENGU_USDC_PERP	−0.0170%	1h	0.008672	+0.417%	$309K	$316K	10x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.915%	$3K	$81K	5.5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008649	+0.156%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008645	+0.105%	$33K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0016%	1h	0.008636	0.000%	$198	$59	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008641	+0.058%	$293K	$719K	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	0.008634	−0.017%	$670K	$758K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008646	+0.116%	$8.7M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008646	+0.115%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008642	+0.069%	$142K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008640	+0.046%	$35.7M	$150.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008642	+0.069%	$7.6M	$46.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008640	+0.046%	$19K	$24K	5x	as long as short
MEXC PENGU_USDTshort	+0.0100%	4h	0.008639	+0.035%	$12.7M	$12.7M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008639	+0.035%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008646	+0.116%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008628	−0.093%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008661	+0.284%	$794K	$713K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008663	+0.316%	$453K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008667	+0.359%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008645	+0.104%	$21K	$184K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008851	+2.490%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008639	+0.035%	$978	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008659	+0.266%	$90K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008640	+0.052%	$177K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008641	+0.058%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008642	+0.066%	$292	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008644	+0.093%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0489% / S −0.0675%	1h	0.008645	+0.104%	$108K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+3.092%	$94K	$97K	50x	as long as short