Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h +0.041%

Price spread now: Reya against MEXC−0.042%7-day average — · you buy dearer than you sell

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

Long on MEXC Short on Reya

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—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.042% cheaper against MEXC than usual: you would sell low and buy high (spread −0.042% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 24 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENGU_USDT	0.008966	0.0100	pay 0.0050% / 4h	2h 15m	$10.7M	$12.7M	125x
Short	Reya PENGURUSDPERP	0.008962	0.0240	get 0.0030% / 1h	15m 27s	$303	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.042%Rate

Funding earned: $29.34
Price spread: −0.042% → 0.000%: −$4.19
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: $19.16
Costs to cover: 0.060%
Break-even: 2.4 days

Slippage unknown: MEXC: live order book, 3 min ago; Reya: 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, 3 min ago	1.13 bp	4.0 bp −$4	15.0 bp −$150	57.6 bp −$5,759	117.0 bp −$58.5K
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008961	−0.059%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.974%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008981	+0.167%	$325K	$750K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008963	−0.028%	$609K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008972	+0.067%	$8.3M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008969	+0.035%	$123K	$684K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008972	+0.067%	$136K	$273K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008966	0.000%	$37.9M	$179.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008959	−0.078%	$23.7M	$42.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008961	−0.056%	$7.6M	$52.3M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.008970	+0.045%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008959	−0.078%	$3.3M	$16.7M	75x	as long as short
MEXC PENGU_USDTlong	+0.0100%	4h	0.008966	long leg	$10.7M	$12.7M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008966	0.000%	$5.0M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008968	+0.022%	$8.5M	$13.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008967	+0.011%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008965	−0.011%	$293K	$344K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008940	−0.290%	$934K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008883	−0.929%	$466K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008867	−1.104%	$80K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008964	−0.022%	$23K	$178K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009171	+2.286%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008958	−0.089%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008922	−0.491%	$93K	$392K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008961	−0.055%	$185K	$876K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008950	−0.178%	$207K	—	3x	as long as short
dYdX PENGU-USD	+0.0194%	1h	0.008969	+0.039%	$12K	$6K	5x	as long as short
01 Exchange PENGUUSD	+0.0208%	1h	0.008968	+0.022%	$205	$64	5x	as long as short
Reya PENGURUSDPERPshort	+0.0240%	1h	0.008962	−0.042%	$303	—	10x
Deribit PENGU_USDC-PERPETUAL	+0.0309%	1h	0.008956	−0.112%	$14K	$15K	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0315%	1h	0.008966	+0.002%	$328K	$2.5M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008878	−0.981%	$1.5M	$4.7M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0517% / S −0.0482%	1h	0.008958	−0.089%	$127K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.009053	+0.970%	$80K	$79K	50x	as long as short