PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0093%/8h= −10.2% APRnext payment −$0.47 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against MEXC−0.092%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

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

costs, in and out, $10k−$350.354% of the position

Long on MEXC Short on Bybit

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+0.071%+$7 · spread now −0.092%, 7d avg −0.042%

Together, before fees−0.026%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.050% cheaper against MEXC than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.042%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENGU_USDT	0.008668	0.0100	pay 0.0050% / 4h	2h 03m	$13.0M	$12.8M	125x
Short	Bybit PENGUUSDT	0.008660	0.0007	get 0.0003% / 4h	2h 03m	$22.5M	$36.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against MEXC. 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 MEXCbpFee BybitbpOrdersPrice spread, now −0.092%Rate

Funding earned: −$19.61
Price spread: −0.092% → −0.042%: −$5.01
Slippage, 4 orders: −$24.37
Fee MEXC: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$59.99
Costs to cover: 0.354%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Bybit: live order book, 1 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 MEXC live order book, 5 min ago	1.15 bp	5.1 bp −$5	15.6 bp −$156	57.1 bp −$5,714	129.2 bp −$64.6K
Sell Bybit live order book, 1 min ago	0.58 bp	13.7 bp −$14	29.2 bp −$292	138.4 bp −$13.8K	doesn't fit

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	−0.0552%	1h	0.008666	−0.026%	$384K	$2.1M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0327%	1h	0.008665	−0.035%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0282%	4h	0.008658	−0.115%	$3.4M	$15.5M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.542%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0096%	1h	0.008665	−0.035%	$309K	$314K	10x	as long as short
01 Exchange PENGUUSD	−0.0024%	1h	0.008665	−0.035%	$198	$59	5x	as long as short
Bybit PENGUUSDTshort	+0.0007%	4h	0.008660	−0.092%	$22.5M	$36.0M	75x
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008665	−0.040%	$33K	—	150x	as long as short
dYdX PENGU-USD	+0.0014%	1h	0.008661	−0.084%	$11K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008665	−0.035%	$295K	$725K	8x	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	0.008660	−0.092%	$673K	$757K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008663	−0.058%	$8.6M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008660	−0.092%	$171K	$448K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008660	−0.092%	$146K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008667	−0.012%	$35.8M	$151.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008663	−0.058%	$7.7M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008660	−0.092%	$19K	$24K	5x	as long as short
MEXC PENGU_USDTlong	+0.0100%	4h	0.008668	long leg	$13.0M	$12.8M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008663	−0.058%	$4.7M	$8.8M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008669	+0.012%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008653	−0.173%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008636	−0.374%	$798K	$726K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008640	−0.327%	$452K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008642	−0.300%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008664	−0.046%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008870	+2.330%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008662	−0.069%	$990	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008681	+0.150%	$91K	$250K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008658	−0.110%	$178K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008660	−0.092%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008658	−0.112%	$292	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008660	−0.092%	$1.5M	$2.7M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0703%	1h	0.008665	−0.035%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008699	+0.358%	$93K	$97K	50x	as long as short