Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Pacifica against MEXC+0.104%7-day average +0.025% · 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−$32as in the Price arb table

costs, in and out, $10k−$400.401% of the position

Long on MEXC Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 4 days (all we have)−0.111%−$11 · spread now +0.104%, 7d avg +0.025%

Together, before fees−0.089%+ Points / potential airdropPacifica: Active · farm board−$9 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: Pacifica is 0.079% dearer against MEXC than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENGU_USDT	0.008655	0.0100	pay 0.0050% / 4h	2h 08m	$12.8M	$12.7M	125x
Short	Pacifica PENGU	0.008664	0.0100	get 0.0013% / 1h	8m 05s	$146K	$236K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.104%Rate

Funding earned: $0
Price spread: +0.104% → +0.025%: $7.89
Slippage, 4 orders: −$32.06
Fee MEXC: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$32.17
Costs to cover: 0.401%
Break-even: never at this rate

Slippage from MEXC: live order book, 10 min ago; Pacifica: live order book, 15 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, 10 min ago	0.58 bp	4.3 bp −$4	20.6 bp −$206	62.2 bp −$6,224	110.5 bp −$55.3K
Sell Pacifica live order book, 15 min ago	2.87 bp	12.0 bp −$12	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
Kraken Futures PF_PENGUUSD	−0.0552%	1h	0.008666	+0.133%	$383K	$2.1M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0327%	1h	0.008663	+0.092%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0284%	4h	0.008658	+0.035%	$3.4M	$15.4M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.693%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0058%	1h	0.008657	+0.023%	$309K	$314K	10x	as long as short
Bybit PENGUUSDT	−0.0015%	4h	0.008655	0.000%	$22.5M	$36.0M	75x	as long as short
01 Exchange PENGUUSD	0.0000%	1h	0.008661	+0.069%	$198	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008665	+0.110%	$33K	—	150x	as long as short
dYdX PENGU-USD	+0.0015%	1h	0.008674	+0.218%	$11K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008658	+0.035%	$297K	$723K	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	0.008661	+0.069%	$673K	$757K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008664	+0.104%	$8.6M	$15.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008665	+0.112%	$171K	$448K	20x	as long as short
Pacifica PENGUshort	+0.0100%	1h	0.008664	+0.104%	$146K	$236K	5x
Binance PENGUUSDT	+0.0100%	4h	0.008659	+0.046%	$35.8M	$151.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008660	+0.058%	$7.7M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008660	+0.058%	$19K	$24K	5x	as long as short
MEXC PENGU_USDTlong	+0.0100%	4h	0.008655	long leg	$12.8M	$12.7M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008660	+0.058%	$4.7M	$8.8M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008666	+0.127%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008659	+0.046%	—	$3.9M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008647	−0.095%	$799K	$726K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008679	+0.277%	$454K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008677	+0.254%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008663	+0.092%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008871	+2.496%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008656	+0.012%	$988	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008682	+0.312%	$91K	$250K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008660	+0.056%	$178K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008658	+0.035%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008658	+0.039%	$292	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008676	+0.243%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0703%	1h	0.008664	+0.104%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008699	+0.508%	$93K	$97K	50x	as long as short