Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against BingX+0.011%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$250.246% of the position

Long on BingX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 7 days−0.014%−$1 · spread now +0.011%, 7d avg +0.004%

Together, before fees−0.031%−$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PENGU-USDT	0.008815	0.0100	pay 0.0050% / 4h	2h 43m	—	$3.7M	—
Short	MEXC PENGU_USDT	0.008816	0.0100	get 0.0050% / 4h	2h 43m	$12.2M	$12.8M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against BingX. 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 BingXbpFee MEXCbpOrdersPrice spread, now +0.011%Rate

Funding earned: $0
Price spread: +0.011% → +0.004%: $0.77
Slippage, 4 orders: −$14.63
Fee BingX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$23.86
Costs to cover: 0.246%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; MEXC: live order book, 10 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 BingX live order book, 6 min ago	0.56 bp	9.1 bp −$9	15.9 bp −$159	43.8 bp −$4,379	332.4 bp −$166.2K
Sell MEXC live order book, 10 min ago	0.57 bp	5.4 bp −$5	16.5 bp −$165	55.7 bp −$5,568	112.8 bp −$56.4K

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
Nado PENGU-PERP	−0.0116%	1h	0.008799	−0.182%	$562K	$960K	5x	as long as short
Variational Omni PENGU	−0.0050%	4h	0.008788	−0.305%	$876K	$1.0M	—	as long as short
Gate PENGU_USDT	−0.0038%	4h	0.008814	−0.011%	$3.4M	$15.4M	75x	as long as short
ApeX Omni PENGUUSDT	−0.0034%	1h	0.008823	+0.091%	$80K	$248K	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008808	−0.079%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008803	−0.137%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.295%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0056%	1h	0.008796	−0.216%	$201	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008810	−0.057%	$311K	$706K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0097%	4h	0.008800	−0.170%	$19K	$176K	20x	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	0.008819	+0.045%	$8.3M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008815	0.000%	$169K	$442K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008785	−0.340%	$152K	$242K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008817	+0.026%	$37.4M	$157.0M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008812	−0.034%	$23.0M	$37.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008816	+0.011%	$7.5M	$47.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008790	−0.284%	$19K	$24K	5x	as long as short
MEXC PENGU_USDTshort	+0.0100%	4h	0.008816	+0.011%	$12.2M	$12.8M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008818	+0.034%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008818	+0.034%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDTlong	+0.0100%	4h	0.008815	long leg	—	$3.7M	—
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008812	−0.034%	$302K	$323K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008848	+0.372%	$471K	$2.1M	10x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009012	+2.235%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008804	−0.125%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008800	−0.170%	$89K	$327K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008815	−0.002%	$181K	$940K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008808	−0.079%	$203K	—	3x	as long as short
dYdX PENGU-USD	+0.0164%	1h	0.008779	−0.411%	$12K	$4K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008815	−0.005%	$364K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008791	−0.269%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008832	+0.193%	$1.5M	$3.2M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0512% / S −0.0708%	1h	0.008800	−0.170%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.724%	$95K	$104K	50x	as long as short