Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: MEXC against Extended+0.259%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$300.299% of the position

Long on Extended Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.005%$0 · spread now +0.259%, 7d avg +0.042%

Together, before fees+0.005%+ Points / potential airdropExtended: Active · farm board+$1 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 0.217% dearer against Extended than usual: you sell high and buy low, +$22 on $10k if it goes back to its 7-day average of +0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENGU-USD	0.009016	0.0104	pay 0.0013% / 1h	31m 58s	$188K	$744K	10x
Short	MEXC PENGU_USDT	0.009039	0.0100	get 0.0050% / 4h	3h 31m	$11.5M	$13.0M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Extended. 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 ExtendedbpFee MEXCbpOrdersPrice spread, now +0.259%Rate

Funding earned: −$0.84
Price spread: +0.259% → +0.042%: $21.73
Slippage, 4 orders: −$24.92
Fee Extended: 2.5 bp × 2 orders: −$5
Fee MEXC: 0 bp × 2 orders: $0
Net: −$9.02
Costs to cover: 0.299%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; MEXC: live order book, 1 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 Extended live order book, 1 min ago	1.65 bp	10.4 bp −$10	91.5 bp −$915	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	1.10 bp	4.0 bp −$4	11.7 bp −$117	61.1 bp −$6,112	118.7 bp −$59.4K

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
Gate PENGU_USDT	−0.0340%	4h	0.009028	+0.137%	$3.7M	$17.9M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.009025	+0.104%	$1K	$29K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009012	−0.036%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.514%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009028	+0.137%	$329K	$756K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009021	+0.059%	$641K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009044	+0.314%	$9.2M	$16.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009048	+0.355%	$132K	$769K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009041	+0.281%	$137K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009050	+0.379%	$40.0M	$197.3M	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	0.009046	+0.337%	$24.4M	$47.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009044	+0.314%	$8.1M	$58.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009040	+0.270%	$18K	$26K	5x	as long as short
MEXC PENGU_USDTshort	+0.0100%	4h	0.009039	+0.259%	$11.5M	$13.0M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.009035	+0.215%	$5.0M	$10.5M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009060	+0.492%	$8.8M	$15.2M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009035	+0.215%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009028	+0.137%	$313K	$388K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009099	+0.924%	$940K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009076	+0.669%	$473K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009132	+1.290%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009024	+0.093%	$23K	$328K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009232	+2.400%	$2K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009019	+0.037%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009040	+0.270%	$94K	$416K	25x	as long as short
Extended PENGU-USDlong	+0.0104%	1h	0.009016	long leg	$188K	$744K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.009055	+0.436%	$209K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009018	+0.028%	$305	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009051	+0.392%	$1.6M	$5.2M	75x	as long as short
01 Exchange PENGUUSD	+0.0352%	1h	0.009044	+0.314%	$207	$41	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0382%	1h	0.009026	+0.115%	$335K	$2.7M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0430% / S −0.0351%	1h	0.009011	−0.052%	$103K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2088%	1h	0.009211	+2.167%	$81K	$73K	50x	as long as short
dYdX PENGU-USD	+0.2355%	1h	0.009038	+0.251%	$21K	$18K	5x	as long as short