Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0097%/8h= −10.6% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against MEXC+0.006%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 gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENGU_USDT	0.008779	0.0100	pay 0.0050% / 4h	3h 58m	$12.4M	$12.6M	125x
Short	gTrade (Gains Network) PENGU/USD	0.008780	L +0.0007% / S −0.0003%	get 0.0000% / 1h	58m 55s	$33K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.006%Rate

Funding earned: −$20.35
Price spread: +0.006% → 0.000%: $0.57
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$29.79
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 4 min ago; gTrade (Gains Network): 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, 4 min ago	0.57 bp	2.8 bp −$3	8.1 bp −$81	50.6 bp −$5,062	126.1 bp −$63.1K
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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
Kraken Futures PF_PENGUUSD	−0.0393%	1h	0.008790	+0.126%	$368K	$2.3M	50x	as long as short
Variational Omni PENGU	−0.0296%	4h	0.008774	−0.053%	$867K	$927K	—	as long as short
Gate PENGU_USDT	−0.0296%	4h	0.008775	−0.046%	$3.4M	$15.4M	75x	as long as short
Backpack PENGU_USDC_PERP	−0.0075%	1h	0.008774	−0.057%	$308K	$315K	10x	as long as short
01 Exchange PENGUUSD	−0.0056%	1h	0.008780	+0.011%	$201	$59	5x	as long as short
gTrade (Gains Network) PENGU/USDshort	L +0.0007% / S −0.0003%	1h	0.008780	+0.006%	$33K	—	150x
dYdX PENGU-USD	+0.0030%	1h	0.008792	+0.147%	$12K	$4K	5x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.114%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008781	+0.023%	$307K	$726K	8x	as long as short
GRVT PENGU_USDT_Perp	+0.0096%	4h	0.008787	+0.091%	$460K	$2.1M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008780	+0.011%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008778	−0.011%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008785	+0.072%	$188K	$474K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008780	+0.011%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008773	−0.068%	$36.4M	$155.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008770	−0.103%	$22.9M	$37.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008777	−0.023%	$7.6M	$47.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008780	+0.011%	$19K	$24K	5x	as long as short
MEXC PENGU_USDTlong	+0.0100%	4h	0.008779	long leg	$12.4M	$12.6M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008780	+0.011%	$4.8M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008780	+0.011%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008771	−0.091%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008791	+0.137%	$80K	$254K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008781	+0.028%	$698K	$778K	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008984	+2.335%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008778	−0.011%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008795	+0.182%	$90K	$300K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008777	−0.025%	$180K	$617K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008779	0.000%	$203K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008776	−0.029%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008776	−0.034%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0497% / S −0.0683%	1h	0.008779	0.000%	$111K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008799	+0.228%	$94K	$104K	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.1686%	1h	0.008799	+0.228%	$18K	$10K	10x	as long as short