Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.020%

Price spread now: Variational Omni against MEXC+0.046%7-day average −0.032% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on MEXC Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.033%−$3 on $10k

Price spread, last 4 days (all we have)+0.263%+$26 · spread now +0.046%, 7d avg −0.032%

Together, before fees+0.231%+ Points / potential airdropVariational Omni: Active · farm board+$23 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: Variational Omni is 0.078% dearer against MEXC than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENGU_USDT	0.009069	0.0100	pay 0.0050% / 4h	1h 54m	$12.2M	$12.3M	125x
Short	Variational Omni PENGU	0.009073	0.0100	get 0.0050% / 4h	1h 54m	$917K	$1.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.046%Rate

Funding earned: $0
Price spread: +0.046% → −0.032%: $7.82
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $7.82
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: MEXC: live order book, 2 min ago; Variational Omni: RFQ quote, 2 min ago. Net counts fees only.

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, 2 min ago	0.55 bp	4.6 bp −$5	28.4 bp −$284	63.7 bp −$6,368	130.7 bp −$65.3K
Sell Variational Omni RFQ quote, 2 min ago	3.86 bp	doesn't fit	21.5 bp −$215	doesn't fit	doesn't fit

PENGU on 34 exchanges

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
dYdX PENGU-USD	0.0000%	1h	0.009067	−0.019%	$20K	$21K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009099	+0.336%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.087%	$3K	$117K	5.5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0064%	1h	0.009086	+0.191%	$333K	$2.6M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0080%	1h	0.009082	+0.143%	$1K	$27K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.009071	+0.022%	$325K	$699K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009079	+0.110%	$652K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009075	+0.070%	$135K	$774K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009070	+0.011%	$137K	$225K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009071	+0.020%	$40.0M	$192.3M	75x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDT	+0.0100%	4h	0.009059	−0.110%	$24.6M	$46.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009060	−0.099%	$8.4M	$56.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009070	+0.011%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009066	−0.033%	$3.7M	$17.9M	75x	as long as short
MEXC PENGU_USDTlong	+0.0100%	4h	0.009069	long leg	$12.2M	$12.3M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.009069	0.000%	$5.1M	$10.5M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009072	+0.033%	$8.7M	$14.3M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009056	−0.143%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009078	+0.099%	$304K	$365K	10x	as long as short
Variational Omni PENGUshort	+0.0100%	4h	0.009073	+0.046%	$917K	$1.2M	—
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009099	+0.330%	$480K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009101	+0.353%	$82K	$248K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009080	+0.121%	$23K	$357K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009297	+2.514%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009080	+0.121%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009090	+0.232%	$93K	$368K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009062	−0.083%	$185K	$740K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009080	+0.121%	$210K	—	3x	as long as short
Hyperliquid PENGU	+0.0155%	1h	0.009080	+0.121%	$9.7M	$17.0M	5x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009072	+0.033%	$306	—	10x	as long as short
01 Exchange PENGUUSD	+0.0304%	1h	0.009081	+0.132%	$208	$141	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009085	+0.176%	$1.6M	$5.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0433% / S −0.0357%	1h	0.009074	+0.055%	$105K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2136%	1h	0.009222	+1.687%	$84K	$95K	50x	as long as short