Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0364%/8h= −39.9% APRpaid last 24h +0.001%

Price spread now: 01 Exchange against MEXC−0.023%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 01 Exchange

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

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and 01 Exchange is 0.023% cheaper against MEXC than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENGU_USDT	0.008782	0.0100	pay 0.0050% / 4h	1m 59s	$12.4M	$12.7M	125x
Short	01 Exchange PENGUUSD	0.008780	−0.0264	pay 0.0033% / 1h	1m 59s	$201	$59	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.023%Rate

Funding earned: −$76.44
Price spread: −0.023% → 0.000%: −$2.28
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$85.72
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 1 min ago; 01 Exchange: 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, 1 min ago	0.57 bp	2.8 bp −$3	8.1 bp −$81	50.6 bp −$5,062	126.1 bp −$63.1K
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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	−0.0340%	1h	0.008793	+0.121%	$369K	$2.3M	50x	as long as short
Bybit PENGUUSDT	−0.0308%	4h	0.008780	−0.023%	$22.9M	$37.1M	75x	as long as short
Variational Omni PENGU	−0.0306%	4h	0.008729	−0.600%	$863K	$927K	—	as long as short
Gate PENGU_USDT	−0.0298%	4h	0.008782	0.000%	$3.4M	$15.7M	75x	as long as short
01 Exchange PENGUUSDshort	−0.0264%	1h	0.008780	−0.023%	$201	$59	5x
Backpack PENGU_USDC_PERP	−0.0147%	1h	0.008783	+0.011%	$308K	$315K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.080%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	−0.0009%	1h	0.008779	−0.034%	$697K	$778K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008783	+0.011%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008783	+0.010%	$33K	—	150x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENGU-USD	+0.0026%	1h	0.008782	−0.003%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0090%	4h	0.008762	−0.228%	$458K	$2.1M	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008783	+0.011%	$307K	$741K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008783	+0.011%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008784	+0.023%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008785	+0.037%	$188K	$474K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008785	+0.034%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008784	+0.026%	$36.5M	$155.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008783	+0.011%	$7.6M	$47.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008780	−0.023%	$19K	$24K	5x	as long as short
MEXC PENGU_USDTlong	+0.0100%	4h	0.008782	long leg	$12.4M	$12.7M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008780	−0.023%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008788	+0.068%	$8.4M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008773	−0.102%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008762	−0.228%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008990	+2.368%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008780	−0.023%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008792	+0.114%	$90K	$284K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008778	−0.047%	$180K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008777	−0.057%	$203K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008778	−0.041%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008780	−0.023%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0497% / S −0.0683%	1h	0.008784	+0.023%	$111K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008799	+0.194%	$94K	$104K	50x	as long as short