Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: MEXC against Pacifica+0.093%7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$290.292% of the position

Long on Pacifica Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now +0.093%, 7d avg −0.025%

Together, before fees−0.012%+ Points / potential airdropPacifica: Active · farm board−$1 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: MEXC is 0.117% dearer against Pacifica than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica PENGU	0.008645	0.0100	pay 0.0013% / 1h	52m 07s	$142K	$232K	5x
Short	MEXC PENGU_USDT	0.008653	0.0100	get 0.0050% / 4h	2h 52m	$12.7M	$12.6M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Pacifica. 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 PacificabpFee MEXCbpOrdersPrice spread, now +0.093%Rate

Funding earned: $0
Price spread: +0.093% → −0.025%: $11.74
Slippage, 4 orders: −$21.17
Fee Pacifica: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$17.43
Costs to cover: 0.292%
Break-even: never at this rate

Slippage from Pacifica: live order book, 36 min ago; MEXC: live order book, 1 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 Pacifica live order book, 36 min ago	1.71 bp	11.2 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.58 bp	5.4 bp −$5	17.0 bp −$170	50.6 bp −$5,064	91.6 bp −$45.8K

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	−0.0553%	1h	0.008655	+0.116%	$383K	$2.1M	50x	as long as short
Bybit PENGUUSDT	−0.0368%	4h	0.008646	+0.012%	$22.7M	$35.7M	75x	as long as short
Gate PENGU_USDT	−0.0336%	4h	0.008648	+0.035%	$3.4M	$15.3M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0327%	1h	0.008656	+0.127%	$19K	$9K	10x	as long as short
Backpack PENGU_USDC_PERP	−0.0266%	1h	0.008651	+0.069%	$309K	$318K	10x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.810%	$3K	$81K	5.5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008655	+0.116%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008659	+0.161%	$33K	—	150x	as long as short
Lighter PENGU	+0.0096%	1h	0.008654	+0.104%	$293K	$718K	8x	as long as short
Nado PENGU-PERP	+0.0098%	1h	0.008643	−0.020%	$670K	$759K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008659	+0.162%	$8.7M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008654	+0.098%	$171K	$448K	20x	as long as short
Pacifica PENGUlong	+0.0100%	1h	0.008645	long leg	$142K	$232K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008652	+0.080%	$35.8M	$150.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008651	+0.069%	$7.7M	$46.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008640	−0.058%	$19K	$24K	5x	as long as short
MEXC PENGU_USDTshort	+0.0100%	4h	0.008653	+0.093%	$12.7M	$12.6M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008653	+0.093%	$4.8M	$8.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008658	+0.150%	$8.1M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008640	−0.058%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008676	+0.364%	$795K	$712K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008682	+0.424%	$454K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008677	+0.370%	$79K	$254K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008656	+0.127%	$21K	$185K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008858	+2.464%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008653	+0.093%	$979	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008674	+0.335%	$91K	$248K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008651	+0.071%	$177K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008652	+0.081%	$200K	$17K	3x	as long as short
01 Exchange PENGUUSD	+0.0160%	1h	0.008638	−0.081%	$198	$59	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008645	+0.004%	$292	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008648	+0.035%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0489% / S −0.0675%	1h	0.008659	+0.162%	$108K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+2.984%	$94K	$97K	50x	as long as short