PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0402%/8h= −44.0% APRnext payment −$2.01 per $10,000 · paid last 24h −0.015%

Price spread now: Gate against MEXC−0.092%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$410.409% of the position

Long on MEXC Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.089%−$9 on $10k

Price spread, last 7 days+0.094%+$9 · spread now −0.092%, 7d avg +0.006%

Together, before fees+0.006%+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Gate is 0.098% cheaper against MEXC than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.006%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.089% in total (about -4.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.01 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENGU_USDT	0.008691	0.0100	pay 0.0050% / 4h	2h 55m	$12.8M	$12.6M	125x
Short	Gate PENGU_USDT	0.008683	−0.0302	pay 0.0151% / 4h	2h 55m	$3.4M	$15.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.092%Rate

Funding earned: −$84.42
Price spread: −0.092% → +0.006%: −$9.77
Slippage, 4 orders: −$25.87
Fee MEXC: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$135.05
Costs to cover: 0.409%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Gate: 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, 3 min ago	2.31 bp	3.5 bp −$4	16.6 bp −$166	57.4 bp −$5,738	133.9 bp −$66.9K
Sell Gate live order book, 3 min ago	2.30 bp	15.0 bp −$15	47.9 bp −$479	doesn't fit	doesn't fit

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	−0.0550%	1h	0.008697	+0.073%	$385K	$2.1M	50x	as long as short
Backpack PENGU_USDC_PERP	−0.0355%	1h	0.008687	−0.046%	$311K	$318K	10x	as long as short
Bybit PENGUUSDT	−0.0344%	4h	0.008684	−0.081%	$22.8M	$35.6M	75x	as long as short
Gate PENGU_USDTshort	−0.0302%	4h	0.008683	−0.092%	$3.4M	$15.3M	75x
01 Exchange PENGUUSD	−0.0120%	1h	0.008679	−0.138%	$199	$59	5x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.276%	$3K	$81K	5.5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008684	−0.081%	$11K	$4K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008695	+0.046%	$21K	$8K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008694	+0.035%	$33K	—	150x	as long as short
Nado PENGU-PERP	+0.0088%	1h	0.008679	−0.132%	$674K	$758K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENGU	+0.0096%	1h	0.008693	+0.023%	$295K	$718K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008693	+0.023%	$8.7M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008690	−0.016%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008674	−0.196%	$143K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008694	+0.030%	$36.0M	$150.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008686	−0.058%	$7.7M	$46.6M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008680	−0.127%	$19K	$24K	5x	as long as short
MEXC PENGU_USDTlong	+0.0100%	4h	0.008691	long leg	$12.8M	$12.6M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008692	+0.012%	$4.8M	$8.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008689	−0.023%	$8.1M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008687	−0.046%	—	$4.0M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008676	−0.167%	$795K	$712K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008675	−0.184%	$454K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008677	−0.161%	$79K	$254K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008696	+0.058%	$21K	$185K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008879	+2.163%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008691	0.000%	$981	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008688	−0.035%	$91K	$248K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008690	−0.011%	$178K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008690	−0.012%	$201K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008685	−0.071%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008675	−0.184%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0489% / S −0.0675%	1h	0.008693	+0.023%	$109K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+2.439%	$94K	$97K	50x	as long as short