Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0300%/8h= +32.8% APRpaid last 24h +0.001%

Price spread now: MEXC against 01 Exchange+0.157%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on MEXC

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 for this trade now. Funding pays +$9 a day on $10k at the current rate, and MEXC is 0.157% dearer against 01 Exchange than usual: you sell high and buy low: +$16 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange PENGUUSD	0.008941	−0.0200	get 0.0025% / 1h	15m 27s	$205	$59	5x
Short	MEXC PENGU_USDT	0.008955	0.0100	get 0.0050% / 4h	3h 15m	$13.2M	$12.9M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against 01 Exchange. 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 01 ExchangebpFee MEXCbpOrdersPrice spread, now +0.157%Rate

Funding earned: $63
Price spread: +0.157% → 0.000%: $15.66
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: $71.66
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: 01 Exchange: no order-book sample; MEXC: live order book, 3 min ago. 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 01 Exchange no order-book sample	—	—	—	—	—
Sell MEXC live order book, 3 min ago	1.13 bp	3.4 bp −$3	15.5 bp −$155	57.9 bp −$5,789	126.3 bp −$63.2K

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	−0.0387%	1h	0.008946	+0.056%	$373K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0310%	4h	0.008944	+0.034%	$3.5M	$15.8M	75x	as long as short
01 Exchange PENGUUSDlong	−0.0200%	1h	0.008941	long leg	$205	$59	5x
Variational Omni PENGU	−0.0157%	4h	0.008900	−0.457%	$913K	$970K	—	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008936	−0.056%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008926	−0.172%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.700%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0086%	1h	0.008941	−0.005%	$12K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008948	+0.078%	$311K	$730K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008935	−0.067%	$24K	$175K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0100%	1h	0.008952	+0.129%	$709K	$766K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008952	+0.123%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008947	+0.064%	$192K	$465K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008945	+0.045%	$154K	$240K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008953	+0.133%	$37.6M	$155.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008947	+0.067%	$23.5M	$37.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008949	+0.089%	$7.7M	$48.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008950	+0.101%	$20K	$25K	5x	as long as short
MEXC PENGU_USDTshort	+0.0100%	4h	0.008955	+0.157%	$13.2M	$12.9M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008941	0.000%	$4.8M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008956	+0.168%	$8.5M	$12.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008946	+0.056%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008938	−0.034%	$307K	$323K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008880	−0.686%	$475K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008869	−0.805%	$81K	$250K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009148	+2.315%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008934	−0.078%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008942	+0.011%	$92K	$300K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008944	+0.029%	$184K	$935K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008934	−0.078%	$206K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008952	+0.121%	$302	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008882	−0.660%	$1.5M	$2.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0521% / S −0.0723%	1h	0.008926	−0.168%	$118K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008826	−1.286%	$94K	$102K	50x	as long as short