Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.035%

Price spread now: MEXC against Gate+0.066%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$470.470% of the position

Long on Gate Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.088%+$9 on $10k

Price spread, last 7 days−0.056%−$6 · spread now +0.066%, 7d avg −0.003%

Together, before fees+0.032%+$3 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 0.069% dearer against Gate than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PENGU_USDT	0.009131	0.0100	pay 0.0050% / 4h	19m 53s	$3.7M	$18.0M	75x
Short	MEXC PENGU_USDT	0.009137	0.0100	get 0.0050% / 4h	19m 53s	$11.3M	$13.1M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Gate. 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 GatebpFee MEXCbpOrdersPrice spread, now +0.066%Rate

Funding earned: $0
Price spread: +0.066% → −0.003%: $6.92
Slippage, 4 orders: −$32.04
Fee Gate: 7.5 bp × 2 orders: −$15
Fee MEXC: 0 bp × 2 orders: $0
Net: −$40.12
Costs to cover: 0.470%
Break-even: never at this rate

Slippage from Gate: 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 Gate live order book, 4 min ago	2.73 bp	14.4 bp −$14	44.5 bp −$445	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.54 bp	6.5 bp −$6	37.2 bp −$372	61.4 bp −$6,135	140.0 bp −$70.0K

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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009128	−0.033%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.745%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0079%	1h	0.009123	−0.088%	$1K	$29K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.009135	+0.044%	$330K	$773K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009116	−0.167%	$642K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009141	+0.114%	$146K	$718K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009119	−0.131%	$138K	$267K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009140	+0.099%	$40.3M	$193.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009127	−0.044%	$24.5M	$45.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009132	+0.011%	$8.2M	$57.0M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.009130	−0.011%	$18K	$25K	5x	as long as short
Gate PENGU_USDTlong	+0.0100%	4h	0.009131	long leg	$3.7M	$18.0M	75x
MEXC PENGU_USDTshort	+0.0100%	4h	0.009137	+0.066%	$11.3M	$13.1M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.009127	−0.044%	$5.0M	$10.4M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009144	+0.142%	$9.0M	$14.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009135	+0.044%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009125	−0.066%	$316K	$382K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009113	−0.198%	$907K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009117	−0.153%	$478K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009182	+0.559%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009120	−0.120%	$23K	$292K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009338	+2.267%	$2K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009126	−0.055%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009132	+0.011%	$94K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009126	−0.059%	$187K	$744K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009120	−0.120%	$211K	—	3x	as long as short
Hyperliquid PENGU	+0.0182%	1h	0.009151	+0.219%	$9.3M	$16.6M	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009113	−0.192%	$308	—	10x	as long as short
01 Exchange PENGUUSD	+0.0328%	1h	0.009126	−0.055%	$209	$41	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009141	+0.110%	$1.6M	$5.0M	75x	as long as short
dYdX PENGU-USD	+0.0382%	1h	0.009126	−0.053%	$12K	$6K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0434% / S −0.0352%	1h	0.009125	−0.066%	$104K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0535%	1h	0.009133	+0.022%	$353K	$2.6M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1928%	1h	0.009196	+0.712%	$81K	$74K	50x	as long as short