PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0240%/8h= −26.3% APRnext payment −$1.20 per $10,000 · paid last 24h −0.072%

Price spread now: MEXC against BloFin−0.199%79s7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as 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−$250.255% of the position

Long on BloFin Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.486%−$49 on $10k

Price spread, last 4 days (all we have)+0.140%+$14 · spread now −0.199%, 7d avg −0.001%

Together, before fees−0.346%−$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and MEXC is 0.198% cheaper against BloFin than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.001%). Swap the legs. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PENGU-USDT	0.009047	0.0340	pay 0.0170% / 4h	59m 47s	$1.6M	$4.9M	75x
Short	MEXC PENGU_USDT	0.009029	0.0100	get 0.0050% / 4h	59m 47s	$10.9M	$13.0M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against BloFin. 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 BloFinbpFee MEXCbpOrdersPrice spread, now −0.199%Rate

Funding earned: −$50.4
Price spread: −0.199% → −0.001%: −$19.81
Slippage, 4 orders: −$13.46
Fee BloFin: 6 bp × 2 orders: −$12
Fee MEXC: 0 bp × 2 orders: $0
Net: −$95.68
Costs to cover: 0.255%
Break-even: never at this rate

Slippage from BloFin: 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 BloFin live order book, 4 min ago	1.66 bp	10.9 bp −$11	17.5 bp −$175	52.2 bp −$5,223	doesn't fit
Sell MEXC live order book, 4 min ago	0.55 bp	3.0 bp −$3	12.7 bp −$127	56.2 bp −$5,623	125.5 bp −$62.8K

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	0.009054	+0.073%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.852%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009036	−0.122%	$324K	$769K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009052	+0.053%	$639K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009035	−0.130%	$143K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009046	−0.011%	$137K	$260K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009030	−0.190%	$39.4M	$190.1M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009027	−0.221%	$24.2M	$44.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009031	−0.177%	$8.0M	$54.8M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009060	+0.144%	$18K	$25K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENGU_USDT	+0.0100%	4h	0.009019	−0.309%	$3.6M	$17.6M	75x	as long as short
MEXC PENGU_USDTshort	+0.0100%	4h	0.009029	−0.199%	$10.9M	$13.0M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.009028	−0.210%	$5.0M	$10.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009030	−0.188%	$8.7M	$13.9M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009025	−0.243%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009042	−0.055%	$295K	$368K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009035	−0.134%	$921K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009052	+0.055%	$475K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009071	+0.265%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009051	+0.044%	$23K	$250K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009267	+2.432%	$2K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009052	+0.055%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009070	+0.254%	$94K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009023	−0.260%	$185K	$523K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009045	−0.022%	$209K	—	3x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0192%	1h	0.009056	+0.099%	$1K	$29K	10x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.009047	+0.002%	$306	—	10x	as long as short
01 Exchange PENGUUSD	+0.0320%	1h	0.009062	+0.166%	$207	$60	5x	as long as short
BloFin PENGU-USDTlong	+0.0340%	4h	0.009047	long leg	$1.6M	$4.9M	75x
Hyperliquid PENGU	+0.0386%	1h	0.009034	−0.144%	$9.0M	$16.3M	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0443% / S −0.0368%	1h	0.009053	+0.066%	$107K	—	100x	as long as short
dYdX PENGU-USD	+0.0540%	1h	0.009042	−0.053%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0674%	1h	0.009055	+0.085%	$338K	$2.5M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009135	+0.973%	$80K	$70K	50x	as long as short