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: HTX against MEXC−0.011%7-day average +0.284% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

costs, in and out, $10k−$810.813% of the position

Long on MEXC Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.232%+$23 on $10k

Price spread, last 4 days (all we have)+0.368%+$37 · spread now −0.011%, 7d avg +0.284%

Together, before fees+0.599%+$60 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: HTX is 0.295% cheaper against MEXC than usual: you would sell low and buy high, −$30 on $10k if it goes back to its 7-day average of +0.284%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENGU_USDT	0.008751	0.0100	pay 0.0050% / 4h	1h 32m	$11.5M	$12.4M	125x
Short	HTX PENGU-USDT	0.008750	0.0100	get 0.0050% / 4h	1h 32m	$91K	$349K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.011%Rate

Funding earned: $0
Price spread: −0.011% → +0.284%: −$29.54
Slippage, 4 orders: −$69.25
Fee MEXC: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$110.8
Costs to cover: 0.813%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; HTX: live order book, 30 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, 6 min ago	0.57 bp	2.7 bp −$3	11.3 bp −$113	47.9 bp −$4,791	113.5 bp −$56.7K
Sell HTX live order book, 30 min ago	14.73 bp	24.0 bp −$24	doesn't fit	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
01 Exchange PENGUUSD	−0.0048%	1h	0.008757	+0.069%	$200	$64	5x	as long as short
Gate PENGU_USDT	−0.0022%	4h	0.008751	0.000%	$3.3M	$15.6M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008749	−0.023%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008749	−0.022%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.434%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008756	+0.057%	$311K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008750	−0.011%	$23K	$166K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008755	+0.046%	$8.2M	$14.6M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008754	+0.033%	$121K	$577K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008754	+0.034%	$154K	$243K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.008751	+0.002%	$36.6M	$160.1M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008746	−0.057%	$23.3M	$38.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008750	−0.011%	$7.5M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008760	+0.103%	$19K	$24K	5x	as long as short
MEXC PENGU_USDTlong	+0.0100%	4h	0.008751	long leg	$11.5M	$12.4M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008754	+0.034%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008756	+0.057%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008752	+0.011%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008752	+0.011%	$300K	$275K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008738	−0.151%	$868K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008744	−0.082%	$467K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008743	−0.091%	$80K	$243K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008740	−0.126%	$586K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008958	+2.365%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008750	−0.011%	$1K	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.008750	−0.011%	$91K	$349K	25x
Extended PENGU-USD	+0.0104%	1h	0.008751	−0.006%	$180K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008745	−0.069%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0212%	1h	0.008747	−0.043%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008748	−0.033%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008744	−0.080%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0582%	1h	0.008750	−0.011%	$119K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0649%	1h	0.008761	+0.109%	$355K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.468%	$95K	$94K	50x	as long as short