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: Binance against MEXC+0.011%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$270.273% of the position

Long on MEXC Short on Binance

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.002%$0 · spread now +0.011%, 7d avg +0.003%

Together, before fees−0.002%$0 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENGU_USDT	0.008795	0.0100	pay 0.0050% / 4h	2h 46m	$12.2M	$12.8M	125x
Short	Binance PENGUUSDT	0.008796	0.0100	get 0.0050% / 4h	2h 46m	$37.3M	$156.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against MEXC. 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 MEXCbpFee BinancebpOrdersPrice spread, now +0.011%Rate

Funding earned: $0
Price spread: +0.011% → +0.003%: $0.84
Slippage, 4 orders: −$17.33
Fee MEXC: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$26.49
Costs to cover: 0.273%
Break-even: never at this rate

Slippage from MEXC: live order book, 7 min ago; Binance: live order book, 12 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 MEXC live order book, 7 min ago	0.57 bp	3.3 bp −$3	12.8 bp −$128	57.6 bp −$5,756	120.6 bp −$60.3K
Sell Binance live order book, 12 min ago	0.57 bp	9.9 bp −$10	20.3 bp −$203	71.3 bp −$7,129	doesn't fit

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
Nado PENGU-PERP	−0.0142%	1h	0.008792	−0.028%	$536K	$926K	5x	as long as short
ApeX Omni PENGUUSDT	−0.0094%	1h	0.008841	+0.523%	$81K	$249K	50x	as long as short
Gate PENGU_USDT	−0.0052%	4h	0.008789	−0.068%	$3.4M	$15.4M	75x	as long as short
Variational Omni PENGU	−0.0050%	4h	0.008788	−0.078%	$876K	$1.0M	—	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008795	0.000%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008793	−0.018%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.068%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0056%	1h	0.008801	+0.068%	$201	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008811	+0.182%	$306K	$698K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0097%	4h	0.008793	−0.023%	$19K	$174K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008796	+0.011%	$8.2M	$15.0M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.008800	+0.060%	$169K	$442K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.008804	+0.102%	$152K	$242K	5x	as long as short
Binance PENGUUSDTshort	+0.0100%	4h	0.008796	+0.011%	$37.3M	$156.9M	75x
Bybit PENGUUSDT	+0.0100%	4h	0.008789	−0.068%	$22.9M	$37.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008795	0.000%	$7.5M	$47.6M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	+0.057%	$19K	$24K	5x	as long as short
MEXC PENGU_USDTlong	+0.0100%	4h	0.008795	long leg	$12.2M	$12.8M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008796	+0.011%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008797	+0.023%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008784	−0.125%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008815	+0.227%	$302K	$323K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008848	+0.601%	$471K	$2.1M	10x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009005	+2.388%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008792	−0.034%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008848	+0.603%	$94K	$326K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008794	−0.008%	$181K	$940K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008799	+0.045%	$203K	—	3x	as long as short
dYdX PENGU-USD	+0.0181%	1h	0.008811	+0.183%	$12K	$4K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008804	+0.099%	$364K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008790	−0.053%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008832	+0.421%	$1.5M	$3.2M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0512% / S −0.0708%	1h	0.008792	−0.034%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.956%	$95K	$104K	50x	as long as short