Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h +0.041%

Price spread now: Reya against MEXC−0.456%138s7-day average — · you buy dearer than you sell

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

Long on MEXC Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.456% cheaper against MEXC than usual: you would sell low and buy high (spread −0.456% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$46 on $10k: about 11 days of funding at the current rate (+$4 a day). The two prices were read 138 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	MEXC PENGU_USDT	0.009052	0.0100	pay 0.0050% / 4h	1h 27m	$11.0M	$12.9M	125x
Short	Reya PENGURUSDPERP	0.009011	0.0240	get 0.0030% / 1h	27m 10s	$304	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.456%Rate

Funding earned: $29.4
Price spread: −0.456% → 0.000%: −$45.58
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: −$22.18
Costs to cover: 0.060%
Break-even: 12.3 days

Slippage unknown: MEXC: live order book, 1 min ago; Reya: no order-book sample. 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 MEXC live order book, 1 min ago	0.55 bp	3.1 bp −$3	9.9 bp −$99	46.3 bp −$4,628	108.9 bp −$54.5K
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.009009	−0.475%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.905%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009057	+0.055%	$325K	$768K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009048	−0.044%	$637K	$1.1M	5x	as long as short
Aster PENGUUSDT	+0.0100%	4h	0.009055	+0.034%	$143K	$716K	20x	as long as short
Pacifica PENGU	+0.0100%	1h	0.009042	−0.110%	$136K	$276K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009056	+0.039%	$39.6M	$188.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009046	−0.066%	$24.0M	$44.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009050	−0.022%	$8.0M	$54.6M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009050	−0.022%	$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	0.009045	−0.077%	$3.4M	$17.2M	75x	as long as short
MEXC PENGU_USDTlong	+0.0100%	4h	0.009052	long leg	$11.0M	$12.9M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.009051	−0.011%	$5.1M	$10.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009056	+0.044%	$8.7M	$13.9M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009044	−0.088%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009052	0.000%	$309K	$362K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009012	−0.443%	$918K	$1.1M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009024	−0.314%	$474K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009019	−0.365%	$79K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009050	−0.022%	$23K	$225K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009264	+2.342%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009050	−0.022%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009054	+0.022%	$93K	$404K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009048	−0.046%	$185K	$526K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009045	−0.077%	$209K	—	3x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0192%	1h	0.009052	0.000%	$1K	$29K	10x	as long as short
Reya PENGURUSDPERPshort	+0.0240%	1h	0.009011	−0.456%	$304	—	10x
Hyperliquid PENGU	+0.0274%	1h	0.009060	+0.088%	$9.1M	$16.2M	5x	as long as short
01 Exchange PENGUUSD	+0.0336%	1h	0.009054	+0.022%	$207	$60	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009048	−0.044%	$1.6M	$4.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0443% / S −0.0368%	1h	0.009045	−0.077%	$107K	—	100x	as long as short
dYdX PENGU-USD	+0.0640%	1h	0.009038	−0.156%	$12K	$6K	5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0674%	1h	0.009056	+0.039%	$337K	$2.5M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1664%	1h	0.009151	+1.094%	$81K	$69K	50x	as long as short