PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0408%/8h= +44.7% APRnext payment +$2.04 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Bybit+0.057%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$270.268% of the position

Long on Bybit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.097%+$10 on $10k

Price spread, last 7 days−0.024%−$2 · spread now +0.057%, 7d avg +0.043%

Together, before fees+0.073%+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.043%, so right now this pair is about funding alone: +$12 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.097% in total (about 5.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.04 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit PENGUUSDT	0.008735	−0.0308	get 0.0154% / 4h	19m 20s	$22.7M	$36.8M	75x
Short	MEXC PENGU_USDT	0.008740	0.0100	get 0.0050% / 4h	19m 20s	$12.3M	$12.6M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Bybit. 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 BybitbpFee MEXCbpOrdersPrice spread, now +0.057%Rate

Funding earned: $85.74
Price spread: +0.057% → +0.043%: $1.39
Slippage, 4 orders: −$15.75
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee MEXC: 0 bp × 2 orders: $0
Net: $60.39
Costs to cover: 0.268%
Break-even: 2.1 days

Slippage from Bybit: live order book, 4 min ago; MEXC: live order book, 4 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 Bybit live order book, 4 min ago	0.57 bp	10.2 bp −$10	23.2 bp −$232	136.6 bp −$13.7K	doesn't fit
Sell MEXC live order book, 4 min ago	0.57 bp	3.9 bp −$4	15.2 bp −$152	48.7 bp −$4,871	128.7 bp −$64.4K

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
Kraken Futures PF_PENGUUSD	−0.0342%	1h	0.008749	+0.165%	$368K	$2.3M	50x	as long as short
Bybit PENGUUSDTlong	−0.0308%	4h	0.008735	long leg	$22.7M	$36.8M	75x
Gate PENGU_USDT	−0.0300%	4h	0.008737	+0.023%	$3.4M	$15.6M	75x	as long as short
Variational Omni PENGU	−0.0261%	4h	0.008723	−0.134%	$768K	$832K	—	as long as short
01 Exchange PENGUUSD	−0.0248%	1h	0.008736	+0.011%	$200	$59	5x	as long as short
Backpack PENGU_USDC_PERP	−0.0167%	1h	0.008727	−0.092%	$311K	$313K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.618%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0093%	1h	0.008744	+0.103%	$19K	$9K	10x	as long as short
Nado PENGU-PERP	−0.0002%	1h	0.008736	+0.017%	$694K	$776K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008745	+0.117%	$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	+0.0023%	1h	0.008738	+0.039%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0090%	4h	0.008735	+0.001%	$457K	$2.1M	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008732	−0.034%	$305K	$741K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008743	+0.092%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008742	+0.080%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008746	+0.124%	$188K	$470K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008734	−0.011%	$151K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008741	+0.072%	$36.2M	$154.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008740	+0.057%	$7.5M	$47.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	+0.057%	$19K	$24K	5x	as long as short
MEXC PENGU_USDTshort	+0.0100%	4h	0.008740	+0.057%	$12.3M	$12.6M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008743	+0.092%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008745	+0.114%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008739	+0.046%	—	$3.9M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008731	−0.046%	$79K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008950	+2.461%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008740	+0.057%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008758	+0.263%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008738	+0.033%	$180K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008736	+0.011%	$202K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008739	+0.050%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008728	−0.080%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008746	+0.126%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008768	+0.378%	$93K	$103K	50x	as long as short