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 0.000%

Price spread now: HTX against MEXC+0.067%50s7-day average +0.280% · you sell dearer than you buy

Net, funding: paid 7d − costs−$100as 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−$1221.224% of the position

Long on MEXC Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.226%+$23 on $10k

Price spread, last 4 days (all we have)+0.221%+$22 · spread now +0.067%, 7d avg +0.280%

Together, before fees+0.447%+$45 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: HTX is 0.213% cheaper against MEXC than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of +0.280%. The two prices were read 50 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	MEXC PENGU_USDT	0.008926	0.0100	pay 0.0050% / 4h	3h 15m	$10.9M	$12.7M	125x
Short	HTX PENGU-USDT	0.008932	0.0100	get 0.0050% / 4h	3h 15m	$92K	$378K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.067%Rate

Funding earned: $0
Price spread: +0.067% → +0.280%: −$21.3
Slippage, 4 orders: −$110.36
Fee MEXC: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$143.65
Costs to cover: 1.224%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; HTX: live order book, 37 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, 3 min ago	1.68 bp	3.3 bp −$3	10.2 bp −$102	54.6 bp −$5,461	107.7 bp −$53.9K
Sell HTX live order book, 37 min ago	8.81 bp	98.5 bp −$98	doesn't fit	doesn't fit	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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008918	−0.090%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008925	−0.014%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.535%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0063%	1h	0.008922	−0.042%	$12K	$5K	5x	as long as short
Gate PENGU_USDT	+0.0066%	4h	0.008923	−0.034%	$3.3M	$16.5M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008940	+0.157%	$325K	$752K	8x	as long as short
01 Exchange PENGUUSD	+0.0096%	1h	0.008944	+0.202%	$205	$64	5x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008935	+0.101%	$599K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008937	+0.123%	$8.5M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008929	+0.033%	$138K	$643K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008933	+0.078%	$136K	$273K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008929	+0.034%	$37.9M	$172.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008913	−0.146%	$23.7M	$41.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008913	−0.146%	$7.8M	$50.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008940	+0.157%	$19K	$25K	5x	as long as short
MEXC PENGU_USDTlong	+0.0100%	4h	0.008926	long leg	$10.9M	$12.7M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008924	−0.022%	$5.0M	$9.5M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008936	+0.112%	$8.7M	$13.1M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008915	−0.123%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008916	−0.112%	$298K	$327K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008910	−0.180%	$930K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008930	+0.045%	$465K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008933	+0.078%	$81K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008918	−0.090%	$23K	$115K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009141	+2.409%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008916	−0.112%	$1K	$5K	5x	as long as short
HTX PENGU-USDTshort	+0.0100%	4h	0.008932	+0.067%	$92K	$378K	25x
Extended PENGU-USD	+0.0104%	1h	0.008936	+0.112%	$184K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008915	−0.123%	$206K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008928	+0.019%	$301	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008932	+0.067%	$1.5M	$4.2M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0503% / S −0.0415%	1h	0.008924	−0.022%	$127K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0613%	1h	0.008924	−0.021%	$326K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.008954	+0.314%	$94K	$63K	50x	as long as short