Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1652%/8h= +180.9% APRpaid last 24h +0.636%

Price spread now: Coinbase International against MEXC+0.147%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+1.832%+$183 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$50 a day on $10k at the current rate, and Coinbase International is 0.147% dearer against MEXC than usual: you sell high and buy low: +$15 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENGU_USDT	0.008832	0.0100	pay 0.0050% / 4h	2h 21m	$10.5M	$12.7M	125x
Short	Coinbase International PENGU-PERP-INTX	0.008845	0.1752	get 0.0219% / 1h	21m 17s	$78K	$76K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.147%Rate

Funding earned: $346.92
Price spread: +0.147% → 0.000%: $14.72
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $351.64
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: MEXC: live order book, 2 min ago; Coinbase International: no order-book sample. 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 MEXC live order book, 2 min ago	0.57 bp	4.2 bp −$4	13.8 bp −$138	57.4 bp −$5,742	136.4 bp −$68.2K
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008821	−0.125%	$17K	$12K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008822	−0.115%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.487%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008817	−0.170%	$319K	$750K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008834	+0.028%	$593K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008839	+0.079%	$8.1M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008823	−0.099%	$121K	$667K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008824	−0.091%	$134K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008826	−0.068%	$37.2M	$177.4M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008816	−0.181%	$23.4M	$42.0M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008818	−0.159%	$7.5M	$51.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008840	+0.091%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008827	−0.057%	$3.3M	$16.6M	75x	as long as short
MEXC PENGU_USDTlong	+0.0100%	4h	0.008832	long leg	$10.5M	$12.7M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008831	−0.011%	$4.9M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008822	−0.113%	$8.4M	$13.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008819	−0.147%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008805	−0.306%	$290K	$338K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008742	−1.018%	$913K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008765	−0.756%	$458K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008756	−0.861%	$79K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008820	−0.136%	$23K	$174K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009033	+2.276%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008819	−0.147%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008834	+0.023%	$92K	$392K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008819	−0.150%	$182K	$876K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008815	−0.192%	$204K	—	3x	as long as short
dYdX PENGU-USD	+0.0177%	1h	0.008826	−0.069%	$12K	$6K	5x	as long as short
01 Exchange PENGUUSD	+0.0184%	1h	0.008838	+0.068%	$202	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008835	+0.034%	$298	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0320%	1h	0.008825	−0.078%	$322K	$2.4M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008757	−0.849%	$1.5M	$4.4M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0466%	1h	0.008819	−0.147%	$122K	—	100x	as long as short
Coinbase International PENGU-PERP-INTXshort	+0.1752%	1h	0.008845	+0.147%	$78K	$76K	50x