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 +0.001%

Price spread now: MEXC against GRVT+0.851%67s7-day average −0.008% · 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—prices read too far apart to compare

costs, in and out, $10k−$350.348% of the position

Long on GRVT Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 7 days−0.877%−$88 · spread now +0.851%, 7d avg −0.008%

Together, before fees−0.835%+ Points / potential airdropGRVT: Active · farm board−$83 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 0.858% dearer against GRVT than usual: you sell high and buy low, +$86 on $10k if it goes back to its 7-day average of −0.008%. The two prices were read 67 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT PENGU_USDT_Perp	0.008865	0.0100	pay 0.0050% / 4h	2m 21s	$473K	$2.1M	10x
Short	MEXC PENGU_USDT	0.008940	0.0100	get 0.0050% / 4h	2m 21s	$10.9M	$12.4M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against GRVT. 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 GRVTbpFee MEXCbpOrdersPrice spread, now +0.851%Rate

Funding earned: $0
Price spread: +0.851% → −0.008%: $85.83
Slippage, 4 orders: −$25.8
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee MEXC: 0 bp × 2 orders: $0
Net: $51.02
Costs to cover: 0.348%
Break-even: from the start

Slippage from GRVT: live order book, 1 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 GRVT live order book, 1 min ago	2.80 bp	14.8 bp −$15	31.9 bp −$319	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.56 bp	3.4 bp −$3	23.3 bp −$233	61.4 bp −$6,139	146.4 bp −$73.2K

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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008938	+0.828%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008939	+0.836%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.853%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008945	+0.907%	$318K	$720K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008939	+0.839%	$24K	$92K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008940	+0.856%	$601K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008946	+0.918%	$8.3M	$14.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008944	+0.893%	$128K	$599K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008941	+0.862%	$157K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008940	+0.852%	$38.0M	$166.3M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDT	+0.0100%	4h	0.008935	+0.794%	$23.6M	$39.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008934	+0.783%	$7.5M	$48.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008940	+0.851%	$19K	$24K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008938	+0.828%	$3.4M	$15.9M	75x	as long as short
MEXC PENGU_USDTshort	+0.0100%	4h	0.008940	+0.851%	$10.9M	$12.4M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008940	+0.851%	$4.9M	$9.3M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008945	+0.907%	$8.7M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008936	+0.806%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008929	+0.727%	$297K	$326K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008853	−0.131%	$922K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perplong	+0.0100%	4h	0.008865	long leg	$473K	$2.1M	10x
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008876	+0.129%	$80K	$242K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009150	+3.220%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008935	+0.794%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008918	+0.603%	$92K	$377K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008933	+0.766%	$184K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008930	+0.738%	$206K	—	3x	as long as short
01 Exchange PENGUUSD	+0.0112%	1h	0.008942	+0.873%	$205	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008936	+0.802%	$302	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008926	+0.693%	$1.5M	$3.8M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0358%	1h	0.008943	+0.887%	$350K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0426%	1h	0.008940	+0.847%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0512% / S −0.0572%	1h	0.008938	+0.828%	$120K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008962	+1.099%	$95K	$63K	50x	as long as short