Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: MEXC against Pacifica−0.033%45s7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as 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−$420.422% of the position

Long on Pacifica Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)+0.136%+$14 · spread now −0.033%, 7d avg −0.020%

Together, before fees+0.128%+ Points / potential airdropPacifica: Active · farm board+$13 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica PENGU	0.009210	0.0100	pay 0.0013% / 1h	58m 54s	$140K	$235K	5x
Short	MEXC PENGU_USDT	0.009207	0.0100	get 0.0050% / 4h	2h 58m	$12.4M	$12.8M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Pacifica. 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 PacificabpFee MEXCbpOrdersPrice spread, now −0.033%Rate

Funding earned: $0
Price spread: −0.033% → −0.020%: −$1.22
Slippage, 4 orders: −$34.16
Fee Pacifica: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$43.38
Costs to cover: 0.422%
Break-even: never at this rate

Slippage from Pacifica: live order book, 34 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 Pacifica live order book, 34 min ago	2.76 bp	21.5 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	1.09 bp	3.6 bp −$4	14.4 bp −$144	53.9 bp −$5,392	121.7 bp −$60.8K

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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009228	+0.200%	$34K	—	150x	as long as short
Gate PENGU_USDT	+0.0030%	4h	0.009211	+0.011%	$3.8M	$17.5M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−4.571%	$3K	$117K	5.5x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0076%	1h	0.009207	−0.033%	$1K	$28K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.009216	+0.065%	$330K	$700K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009206	−0.043%	$652K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009222	+0.130%	$9.6M	$16.7M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009218	+0.091%	$142K	$789K	20x	as long as short
Pacifica PENGUlong	+0.0100%	1h	0.009210	long leg	$140K	$235K	5x
Binance PENGUUSDT	+0.0100%	4h	0.009216	+0.065%	$40.8M	$196.8M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDT	+0.0100%	4h	0.009206	−0.043%	$25.0M	$47.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009207	−0.033%	$8.4M	$58.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009220	+0.109%	$19K	$26K	5x	as long as short
MEXC PENGU_USDTshort	+0.0100%	4h	0.009207	−0.033%	$12.4M	$12.8M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.009214	+0.043%	$5.2M	$10.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009213	+0.033%	$9.0M	$15.0M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009212	+0.022%	—	$3.7M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009211	+0.011%	$305K	$371K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009219	+0.095%	$953K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009227	+0.185%	$482K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009238	+0.304%	$81K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009205	−0.054%	$24K	$356K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009439	+2.486%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009205	−0.054%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009224	+0.152%	$96K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009203	−0.071%	$189K	$741K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009197	−0.141%	$212K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0211%	1h	0.009213	+0.035%	$347K	$2.7M	50x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009200	−0.104%	$311	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009195	−0.163%	$1.7M	$5.4M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0434% / S −0.0351%	1h	0.009239	+0.315%	$106K	—	100x	as long as short
01 Exchange PENGUUSD	+0.0440%	1h	0.009221	+0.119%	$211	$141	5x	as long as short
dYdX PENGU-USD	+0.1353%	1h	0.009209	−0.015%	$22K	$18K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2288%	1h	0.009424	+2.324%	$81K	$87K	50x	as long as short