Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against MEXC0.000%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$540.536% of the position

Long on MEXC Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 7 days−0.014%−$1 · spread now 0.000%, 7d avg +0.021%

Together, before fees−0.003%$0 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: KuCoin is 0.021% cheaper against MEXC than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENGU_USDT	0.009006	0.0100	pay 0.0050% / 4h	1h 31m	$11.0M	$12.9M	125x
Short	KuCoin PENGUUSDTM	0.009006	0.0100	get 0.0050% / 4h	1h 31m	$5.0M	$10.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.021%: −$2.11
Slippage, 4 orders: −$41.59
Fee MEXC: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$55.7
Costs to cover: 0.536%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; KuCoin: live order book, 6 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, 1 min ago	0.55 bp	3.4 bp −$3	13.6 bp −$136	68.9 bp −$6,889	136.4 bp −$68.2K
Sell KuCoin live order book, 6 min ago	1.11 bp	19.3 bp −$19	46.9 bp −$469	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009008	+0.021%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.410%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009018	+0.133%	$324K	$768K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009003	−0.028%	$633K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009010	+0.045%	$142K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009011	+0.056%	$136K	$295K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009006	0.000%	$39.4M	$188.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008999	−0.078%	$23.9M	$44.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009000	−0.067%	$7.9M	$54.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009010	+0.044%	$18K	$26K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENGU_USDT	+0.0100%	4h	0.009002	−0.044%	$3.4M	$17.2M	75x	as long as short
MEXC PENGU_USDTlong	+0.0100%	4h	0.009006	long leg	$11.0M	$12.9M	125x
KuCoin PENGUUSDTMshort	+0.0100%	4h	0.009006	0.000%	$5.0M	$10.1M	75x
Bitget PENGUUSDT	+0.0100%	4h	0.009011	+0.056%	$8.6M	$13.9M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009006	0.000%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009003	−0.033%	$310K	$360K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008984	−0.245%	$916K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008995	−0.122%	$474K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009006	0.000%	$79K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009010	+0.044%	$23K	$216K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009228	+2.465%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009009	+0.033%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009026	+0.222%	$93K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009004	−0.024%	$186K	$521K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009004	−0.022%	$208K	—	3x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0194%	1h	0.009011	+0.056%	$1K	$29K	10x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009004	−0.025%	$304	—	10x	as long as short
Hyperliquid PENGU	+0.0311%	1h	0.009012	+0.067%	$9.0M	$16.2M	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009020	+0.155%	$1.6M	$4.9M	75x	as long as short
01 Exchange PENGUUSD	+0.0344%	1h	0.009016	+0.111%	$206	$64	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0442% / S −0.0368%	1h	0.009010	+0.044%	$106K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0677%	1h	0.009018	+0.133%	$336K	$2.5M	50x	as long as short
dYdX PENGU-USD	+0.0704%	1h	0.009013	+0.080%	$12K	$6K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009151	+1.610%	$81K	$69K	50x	as long as short