Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Aster against Aevo+0.073%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$940.942% of the position

Long on Aevo Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 3 days (all we have)+0.048%+$5 · spread now +0.073%, 7d avg +0.060%

Together, before fees+0.041%+ Points / potential airdropAster: Stage 5 · farm board+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENGU-PERP	0.008686	0.0104	pay 0.0013% / 1h	17m 12s	$201K	$17K	3x
Short	Aster PENGUUSDT	0.008692	0.0100	get 0.0050% / 4h	2h 17m	$172K	$448K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Aevo. 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 AevobpFee AsterbpOrdersPrice spread, now +0.073%Rate

Funding earned: −$0.84
Price spread: +0.073% → +0.060%: $1.28
Slippage, 4 orders: −$70.19
Fee Aevo: 8 bp × 2 orders: −$16
Fee Aster: 4 bp × 2 orders: −$8
Net: −$93.76
Costs to cover: 0.942%
Break-even: never at this rate

Slippage from Aevo: live order book, 7 min ago; Aster: live order book, 5 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 Aevo live order book, 7 min ago	11.49 bp	38.9 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	5.16 bp	12.9 bp −$13	40.0 bp −$400	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
Kraken Futures PF_PENGUUSD	−0.0550%	1h	0.008692	+0.068%	$386K	$2.1M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0440%	1h	0.008689	+0.035%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0260%	4h	0.008684	−0.023%	$3.4M	$15.4M	75x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.334%	$3K	$81K	5.5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008692	+0.066%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008693	+0.080%	$33K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0008%	1h	0.008693	+0.081%	$199	$59	5x	as long as short
Backpack PENGU_USDC_PERP	+0.0015%	1h	0.008687	+0.012%	$310K	$314K	10x	as long as short
Bybit PENGUUSDT	+0.0027%	4h	0.008674	−0.138%	$22.5M	$36.0M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008682	−0.046%	$297K	$723K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0100%	1h	0.008687	+0.012%	$674K	$757K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008694	+0.092%	$8.7M	$15.2M	5x	as long as short
Aster PENGUUSDTshort	+0.0100%	4h	0.008692	+0.073%	$172K	$448K	20x
Pacifica PENGU	+0.0100%	1h	0.008688	+0.023%	$146K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008681	−0.055%	$35.9M	$151.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008681	−0.058%	$7.7M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008690	+0.046%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008688	+0.023%	$12.8M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008691	+0.058%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008691	+0.058%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008687	+0.012%	—	$3.9M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008709	+0.265%	$799K	$714K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008696	+0.116%	$455K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008718	+0.368%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008692	+0.069%	$23K	$184K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008899	+2.452%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008683	−0.035%	$988	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008716	+0.345%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008685	−0.017%	$179K	$682K	10x	as long as short
Aevo PENGU-PERPlong	+0.0104%	1h	0.008686	long leg	$201K	$17K	3x
Reya PENGURUSDPERP	+0.0237%	1h	0.008688	+0.020%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008685	−0.012%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0703%	1h	0.008692	+0.069%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008728	+0.484%	$94K	$97K	50x	as long as short