Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against OKX−0.011%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.041%+$4 on $10k

Price spread, last 7 days−0.015%−$1 · spread now −0.011%, 7d avg −0.001%

Together, before fees+0.027%+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PENGU-USDT-SWAP	0.008795	0.0100	pay 0.0050% / 4h	2h 19m	$7.5M	$47.5M	50x
Short	MEXC PENGU_USDT	0.008794	0.0100	get 0.0050% / 4h	2h 19m	$12.0M	$12.9M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against OKX. 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 OKXbpFee MEXCbpOrdersPrice spread, now −0.011%Rate

Funding earned: $0
Price spread: −0.011% → −0.001%: −$1.02
Slippage, 4 orders: −$16.39
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$27.41
Costs to cover: 0.264%
Break-even: never at this rate

Slippage from OKX: 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 OKX live order book, 4 min ago	0.57 bp	9.6 bp −$10	28.8 bp −$288	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.57 bp	2.6 bp −$3	13.0 bp −$130	64.5 bp −$6,454	111.8 bp −$55.9K

PENGU on 33 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	0.008788	−0.080%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008786	−0.100%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.068%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0058%	4h	0.008791	−0.045%	$3.4M	$15.6M	75x	as long as short
Variational Omni PENGU	+0.0060%	4h	0.008804	+0.101%	$876K	$999K	—	as long as short
01 Exchange PENGUUSD	+0.0088%	1h	0.008800	+0.057%	$201	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008804	+0.102%	$311K	$707K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008785	−0.114%	$19K	$161K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008782	−0.145%	$591K	$990K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008801	+0.068%	$8.3M	$14.9M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDT	+0.0100%	4h	0.008799	+0.049%	$143K	$509K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008794	−0.011%	$155K	$245K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008799	+0.043%	$37.6M	$157.6M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008791	−0.045%	$23.1M	$38.3M	75x	as long as short
OKX PENGU-USDT-SWAPlong	+0.0100%	4h	0.008795	long leg	$7.5M	$47.5M	50x
Arcus PENGU-USD	+0.0100%	1h	0.008800	+0.057%	$19K	$24K	5x	as long as short
MEXC PENGU_USDTshort	+0.0100%	4h	0.008794	−0.011%	$12.0M	$12.9M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008794	−0.011%	$4.7M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008799	+0.045%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008794	−0.011%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008792	−0.034%	$301K	$300K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008820	+0.285%	$472K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008813	+0.205%	$80K	$249K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008998	+2.308%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008787	−0.091%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008812	+0.193%	$94K	$337K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008792	−0.032%	$184K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008779	−0.182%	$203K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008796	+0.010%	$359K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008784	−0.123%	$297	—	10x	as long as short
dYdX PENGU-USD	+0.0296%	1h	0.008797	+0.025%	$12K	$4K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0512% / S −0.0708%	1h	0.008786	−0.102%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.956%	$95K	$94K	50x	as long as short