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: MEXC against Variational Omni−0.147%7-day average +0.032% · you buy dearer than you sell

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

Long on Variational Omni Short on MEXC

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)−0.163%−$16 · spread now −0.147%, 7d avg +0.032%

Together, before fees−0.130%+ Points / potential airdropVariational Omni: Active · farm board−$13 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: MEXC is 0.179% cheaper against Variational Omni than usual: you would sell low and buy high, −$18 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	Variational Omni PENGU	0.009116	0.0100	pay 0.0050% / 4h	2h 00m	$918K	$1.2M	—
Short	MEXC PENGU_USDT	0.009103	0.0100	get 0.0050% / 4h	2h 00m	$12.3M	$13.1M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Variational Omni. 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 Variational OmnibpFee MEXCbpOrdersPrice spread, now −0.147%Rate

Funding earned: $0
Price spread: −0.147% → +0.032%: −$17.86
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: −$17.86
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; MEXC: live order book, 1 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 Variational Omni RFQ quote, 1 min ago	3.83 bp	doesn't fit	26.8 bp −$268	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	1.65 bp	3.9 bp −$4	13.3 bp −$133	46.0 bp −$4,597	101.1 bp −$50.5K

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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.009102	−0.157%	$1K	$27K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009093	−0.261%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.591%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009107	−0.103%	$326K	$713K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009101	−0.163%	$650K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009106	−0.116%	$137K	$780K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009106	−0.114%	$137K	$225K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009107	−0.099%	$40.1M	$192.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009105	−0.125%	$24.7M	$46.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009100	−0.179%	$8.4M	$56.7M	50x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.009110	−0.070%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009101	−0.168%	$3.7M	$18.0M	75x	as long as short
MEXC PENGU_USDTshort	+0.0100%	4h	0.009103	−0.147%	$12.3M	$13.1M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.009102	−0.157%	$5.2M	$10.5M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009110	−0.070%	$8.8M	$14.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009102	−0.157%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009095	−0.234%	$304K	$366K	10x	as long as short
Variational Omni PENGUlong	+0.0100%	4h	0.009116	long leg	$918K	$1.2M	—
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009158	+0.456%	$479K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009128	+0.128%	$82K	$248K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009102	−0.157%	$23K	$358K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009318	+2.212%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009101	−0.168%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009116	−0.004%	$94K	$368K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009098	−0.201%	$186K	$743K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009102	−0.157%	$210K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0214%	1h	0.009107	−0.097%	$334K	$2.6M	50x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009119	+0.034%	$308	—	10x	as long as short
01 Exchange PENGUUSD	+0.0312%	1h	0.009111	−0.059%	$208	$141	5x	as long as short
Hyperliquid PENGU	+0.0336%	1h	0.009116	−0.004%	$9.8M	$17.0M	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009105	−0.125%	$1.6M	$5.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0434% / S −0.0357%	1h	0.009094	−0.245%	$105K	—	100x	as long as short
dYdX PENGU-USD	+0.1001%	1h	0.009106	−0.114%	$20K	$21K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2288%	1h	0.009163	+0.512%	$84K	$95K	50x	as long as short