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 0.000%

Price spread now: BingX against MEXC0.000%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$220.216% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

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

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENGU_USDT	0.008888	0.0100	pay 0.0050% / 4h	3h 16m	$13.1M	$12.9M	125x
Short	BingX PENGU-USDT	0.008888	0.0100	get 0.0050% / 4h	3h 16m	—	$3.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against MEXC. 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 MEXCbpFee BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: −$11.6
Fee MEXC: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$21.6
Costs to cover: 0.216%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; BingX: live order book, 3 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 MEXC live order book, 2 min ago	1.13 bp	2.2 bp −$2	13.1 bp −$131	60.7 bp −$6,072	133.6 bp −$66.8K
Sell BingX live order book, 3 min ago	0.56 bp	9.2 bp −$9	14.4 bp −$144	56.0 bp −$5,605	344.1 bp −$172.1K

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	−0.0389%	1h	0.008880	−0.094%	$371K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0384%	4h	0.008888	0.000%	$3.5M	$15.8M	75x	as long as short
01 Exchange PENGUUSD	−0.0208%	1h	0.008861	−0.304%	$203	$59	5x	as long as short
Variational Omni PENGU	−0.0171%	4h	0.008882	−0.067%	$913K	$970K	—	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008869	−0.214%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008870	−0.207%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.114%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0081%	1h	0.008896	+0.093%	$12K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008901	+0.146%	$309K	$730K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008869	−0.214%	$24K	$175K	20x	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	0.008867	−0.236%	$702K	$766K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008892	+0.045%	$8.3M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008890	+0.026%	$190K	$465K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008896	+0.090%	$153K	$240K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008904	+0.180%	$37.4M	$155.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008898	+0.113%	$23.4M	$37.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008900	+0.135%	$7.7M	$47.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008870	−0.203%	$20K	$25K	5x	as long as short
MEXC PENGU_USDTlong	+0.0100%	4h	0.008888	long leg	$13.1M	$12.9M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008886	−0.023%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008892	+0.045%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDTshort	+0.0100%	4h	0.008888	0.000%	—	$3.8M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008874	−0.158%	$305K	$323K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008865	−0.253%	$470K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008887	−0.011%	$81K	$255K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009078	+2.138%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008867	−0.236%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008882	−0.068%	$91K	$300K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008887	−0.016%	$183K	$935K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008859	−0.326%	$205K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008868	−0.227%	$299	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008882	−0.068%	$1.5M	$2.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0520% / S −0.0723%	1h	0.008868	−0.225%	$117K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008967	+0.889%	$95K	$104K	50x	as long as short