Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against KuCoin+0.044%7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$680.679% of the position

Long on KuCoin Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 7 days−0.056%−$6 · spread now +0.044%, 7d avg −0.022%

Together, before fees−0.064%−$6 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 0.066% dearer against KuCoin than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin PENGUUSDTM	0.009131	0.0100	pay 0.0050% / 4h	3h 48m	$5.1M	$10.6M	75x
Short	MEXC PENGU_USDT	0.009135	0.0100	get 0.0050% / 4h	3h 48m	$11.6M	$12.9M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against KuCoin. 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 KuCoinbpFee MEXCbpOrdersPrice spread, now +0.044%Rate

Funding earned: $0
Price spread: +0.044% → −0.022%: $6.58
Slippage, 4 orders: −$55.91
Fee KuCoin: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$61.34
Costs to cover: 0.679%
Break-even: never at this rate

Slippage from KuCoin: live order book, 10 min ago; MEXC: live order book, 5 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 KuCoin live order book, 10 min ago	1.66 bp	31.3 bp −$31	74.9 bp −$749	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	2.74 bp	6.2 bp −$6	22.5 bp −$225	57.3 bp −$5,731	130.4 bp −$65.2K

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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009137	+0.065%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.745%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009123	−0.088%	$329K	$747K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009135	+0.044%	$649K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009144	+0.142%	$9.3M	$16.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009138	+0.080%	$144K	$753K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009113	−0.197%	$138K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009141	+0.113%	$40.3M	$196.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009133	+0.022%	$24.7M	$46.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009131	0.000%	$8.2M	$58.1M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.009130	−0.011%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009129	−0.022%	$3.8M	$17.5M	75x	as long as short
MEXC PENGU_USDTshort	+0.0100%	4h	0.009135	+0.044%	$11.6M	$12.9M	125x
KuCoin PENGUUSDTMlong	+0.0100%	4h	0.009131	long leg	$5.1M	$10.6M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.009141	+0.110%	$8.9M	$15.1M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009135	+0.044%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009132	+0.011%	$314K	$388K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009133	+0.022%	$941K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009124	−0.071%	$483K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009121	−0.110%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009137	+0.066%	$24K	$321K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009336	+2.245%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009130	−0.011%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009146	+0.164%	$95K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009131	+0.005%	$187K	$743K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009128	−0.033%	$211K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009132	+0.008%	$308	—	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0297%	1h	0.009142	+0.120%	$1K	$29K	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009155	+0.263%	$1.6M	$5.2M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0378%	1h	0.009141	+0.106%	$351K	$2.6M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0433% / S −0.0351%	1h	0.009135	+0.044%	$104K	—	100x	as long as short
01 Exchange PENGUUSD	+0.0448%	1h	0.009141	+0.110%	$209	$41	5x	as long as short
dYdX PENGU-USD	+0.0548%	1h	0.009111	−0.214%	$12K	$6K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2088%	1h	0.009211	+0.876%	$81K	$74K	50x	as long as short