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 Aster+0.177%7-day average −0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

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

costs, in and out, $10k−$480.476% of the position

Long on Aster Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 4 days (all we have)−0.240%−$24 · spread now +0.177%, 7d avg −0.043%

Together, before fees−0.253%+ Points / potential airdropAster: Stage 5 · farm board−$25 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: Binance is 0.219% dearer against Aster than usual: you sell high and buy low, +$22 on $10k if it goes back to its 7-day average of −0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.008820	0.0100	pay 0.0050% / 4h	31m 52s	$122K	$579K	20x
Short	Binance PENGUUSDT	0.008836	0.0100	get 0.0050% / 4h	31m 52s	$36.9M	$162.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Aster. 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 AsterbpFee BinancebpOrdersPrice spread, now +0.177%Rate

Funding earned: $0
Price spread: +0.177% → −0.043%: $21.94
Slippage, 4 orders: −$29.56
Fee Aster: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$25.62
Costs to cover: 0.476%
Break-even: never at this rate

Slippage from Aster: live order book, 26 min ago; Binance: live order book, 11 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 Aster live order book, 26 min ago	8.58 bp	16.2 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	0.57 bp	9.4 bp −$9	20.9 bp −$209	67.2 bp −$6,719	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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008825	+0.052%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008817	−0.041%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.356%	$3K	$117K	5.5x	as long as short
Gate PENGU_USDT	+0.0054%	4h	0.008828	+0.086%	$3.3M	$15.6M	75x	as long as short
01 Exchange PENGUUSD	+0.0064%	1h	0.008814	−0.073%	$202	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008829	+0.097%	$314K	$717K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008825	+0.052%	$23K	$124K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008813	−0.081%	$591K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008828	+0.086%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDTlong	+0.0100%	4h	0.008820	long leg	$122K	$579K	20x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008801	−0.220%	$155K	$241K	5x	as long as short
Binance PENGUUSDTshort	+0.0100%	4h	0.008836	+0.177%	$36.9M	$162.2M	75x
Bybit PENGUUSDT	+0.0100%	4h	0.008831	+0.120%	$23.4M	$39.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008834	+0.154%	$7.3M	$47.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008810	−0.118%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008829	+0.097%	$11.0M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008823	+0.029%	$4.9M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008824	+0.040%	$8.3M	$12.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008830	+0.108%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008828	+0.086%	$293K	$314K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008716	−1.184%	$866K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008750	−0.798%	$456K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008753	−0.764%	$79K	$242K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009040	+2.489%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008825	+0.052%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008820	−0.005%	$92K	$371K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008825	+0.051%	$181K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008815	−0.062%	$204K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008812	−0.091%	$298	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008794	−0.300%	$1.5M	$3.5M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0363%	1h	0.008833	+0.138%	$346K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0472%	1h	0.008792	−0.320%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0498% / S −0.0555%	1h	0.008817	−0.039%	$116K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008822	+0.018%	$94K	$60K	50x	as long as short