PENGU

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0038%/8h= −4.2% APRnext payment −$0.19 per $10,000 · paid last 24h −0.031%

Price spread now: Gate against MEXC−0.120%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$420.423% of the position

Long on MEXC Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 7 days+0.116%+$12 · spread now −0.120%, 7d avg +0.002%

Together, before fees+0.034%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.123% cheaper against MEXC than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.002%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PENGU_USDT	0.009138	0.0100	pay 0.0050% / 4h	3h 44m	$11.5M	$12.9M	125x
Short	Gate PENGU_USDT	0.009127	0.0062	get 0.0031% / 4h	3h 44m	$3.7M	$17.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.120%Rate

Funding earned: −$7.98
Price spread: −0.120% → +0.002%: −$12.29
Slippage, 4 orders: −$27.27
Fee MEXC: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$62.53
Costs to cover: 0.423%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Gate: 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 MEXC live order book, 3 min ago	0.55 bp	6.6 bp −$7	27.3 bp −$273	59.8 bp −$5,984	132.4 bp −$66.2K
Sell Gate live order book, 4 min ago	3.29 bp	15.4 bp −$15	48.0 bp −$480	doesn't fit	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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009134	−0.039%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.819%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDTshort	+0.0062%	4h	0.009127	−0.120%	$3.7M	$17.7M	75x
Deribit PENGU_USDC-PERPETUAL	+0.0078%	1h	0.009142	+0.044%	$1K	$29K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.009148	+0.109%	$330K	$747K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009136	−0.022%	$649K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009147	+0.098%	$9.3M	$16.8M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009139	+0.011%	$132K	$753K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009129	−0.098%	$138K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009137	−0.007%	$40.3M	$196.6M	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	0.009128	−0.109%	$24.7M	$46.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009129	−0.098%	$8.2M	$58.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009150	+0.131%	$18K	$25K	5x	as long as short
MEXC PENGU_USDTlong	+0.0100%	4h	0.009138	long leg	$11.5M	$12.9M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.009139	+0.011%	$5.1M	$10.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009143	+0.055%	$8.9M	$15.1M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009133	−0.055%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009137	−0.011%	$314K	$388K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009105	−0.361%	$941K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009136	−0.022%	$483K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009124	−0.153%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009137	−0.011%	$24K	$323K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009337	+2.178%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009142	+0.044%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009156	+0.197%	$95K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009131	−0.076%	$190K	$744K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009138	0.000%	$211K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009137	−0.014%	$309	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009158	+0.219%	$1.6M	$5.3M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0377%	1h	0.009146	+0.083%	$351K	$2.6M	50x	as long as short
01 Exchange PENGUUSD	+0.0416%	1h	0.009152	+0.153%	$209	$41	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0433% / S −0.0351%	1h	0.009133	−0.055%	$104K	—	100x	as long as short
dYdX PENGU-USD	+0.1154%	1h	0.009128	−0.110%	$12K	$6K	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2088%	1h	0.009211	+0.799%	$81K	$74K	50x	as long as short