PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0240%/8h= −26.3% APRnext payment −$1.20 per $10,000 · paid last 24h −0.072%

Price spread now: MEXC against BloFin−0.374%94s7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$250.252% of the position

Long on BloFin Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.486%−$49 on $10k

Price spread, last 3 days (all we have)+0.291%+$29 · spread now −0.374%, 7d avg −0.029%

Together, before fees−0.195%−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and MEXC is 0.345% cheaper against BloFin than usual: you would sell low and buy high (−$35 if the spread goes back to its 7-day average of −0.029%). Swap the legs. The two prices were read 94 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENGU-USDT	0.008822	0.0340	pay 0.0170% / 4h	3h 51m	$1.5M	$2.8M	75x
Short	MEXC PENGU_USDT	0.008789	0.0100	get 0.0050% / 4h	3h 51m	$12.4M	$12.6M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against BloFin. 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 BloFinbpFee MEXCbpOrdersPrice spread, now −0.374%Rate

Funding earned: −$50.4
Price spread: −0.374% → −0.029%: −$34.55
Slippage, 4 orders: −$13.23
Fee BloFin: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$110.17
Costs to cover: 0.252%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; MEXC: live order book, 7 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 BloFin live order book, 2 min ago	2.27 bp	10.9 bp −$11	15.2 bp −$152	48.0 bp −$4,802	doesn't fit
Sell MEXC live order book, 7 min ago	0.57 bp	3.1 bp −$3	13.7 bp −$137	53.8 bp −$5,377	120.4 bp −$60.2K

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
Bybit PENGUUSDT	−0.0420%	4h	0.008784	−0.431%	$22.9M	$37.2M	75x	as long as short
Kraken Futures PF_PENGUUSD	−0.0392%	1h	0.008817	−0.054%	$369K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0358%	4h	0.008780	−0.476%	$3.4M	$15.4M	75x	as long as short
Variational Omni PENGU	−0.0281%	4h	0.008802	−0.223%	$869K	$929K	—	as long as short
01 Exchange PENGUUSD	−0.0096%	1h	0.008826	+0.045%	$202	$59	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0090%	1h	0.008812	−0.113%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008823	+0.010%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.374%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008792	−0.340%	$308K	$727K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008815	−0.079%	$23K	$185K	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	0.008822	0.000%	$701K	$778K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008779	−0.487%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008789	−0.378%	$188K	$481K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008785	−0.419%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008788	−0.385%	$36.6M	$155.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008789	−0.374%	$7.6M	$47.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008820	−0.023%	$19K	$24K	5x	as long as short
MEXC PENGU_USDTshort	+0.0100%	4h	0.008789	−0.374%	$12.4M	$12.6M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008789	−0.374%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008779	−0.487%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008788	−0.385%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008798	−0.272%	$309K	$315K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008805	−0.193%	$461K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008799	−0.261%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009020	+2.244%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008808	−0.159%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008827	+0.057%	$90K	$300K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008777	−0.509%	$184K	$642K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008800	−0.249%	$203K	—	3x	as long as short
dYdX PENGU-USD	+0.0130%	1h	0.008789	−0.376%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008820	−0.025%	$298	—	10x	as long as short
BloFin PENGU-USDTlong	+0.0340%	4h	0.008822	long leg	$1.5M	$2.8M	75x
GMX PENGU/USD [WBTC.b-USDC]	L +0.0499% / S −0.0683%	1h	0.008823	+0.011%	$111K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008823	+0.011%	$94K	$104K	50x	as long as short