Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.058%

Price spread now: Deribit against Aster−0.012%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.008887	0.0100	pay 0.0050% / 4h	3h 20m	$190K	$465K	20x
Short	Deribit PENGU_USDC-PERPETUAL	0.008886	0	get 0.0000% / 1h	20m 32s	$18K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$21
Price spread: −0.012% → 0.000%: −$1.19
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$37.19
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 52 min ago; Deribit: 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 Aster live order book, 52 min ago	5.16 bp	11.6 bp −$12	182.0 bp −$1,820	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Kraken Futures PF_PENGUUSD	−0.0389%	1h	0.008894	+0.073%	$371K	$2.3M	50x	as long as short
Gate PENGU_USDT	−0.0298%	4h	0.008874	−0.147%	$3.4M	$15.6M	75x	as long as short
01 Exchange PENGUUSD	−0.0216%	1h	0.008883	−0.046%	$203	$59	5x	as long as short
Variational Omni PENGU	−0.0171%	4h	0.008882	−0.057%	$913K	$970K	—	as long as short
Deribit PENGU_USDC-PERPETUALshort	0.0000%	1h	0.008886	−0.012%	$18K	$10K	10x
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008890	+0.034%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.103%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0081%	1h	0.008870	−0.189%	$12K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008877	−0.113%	$309K	$729K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008887	−0.001%	$24K	$175K	20x	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	0.008874	−0.141%	$703K	$767K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008878	−0.102%	$8.3M	$15.3M	5x	as long as short
Aster PENGUUSDTlong	+0.0100%	4h	0.008887	long leg	$190K	$465K	20x
Pacifica PENGU	+0.0100%	1h	0.008870	−0.192%	$153K	$238K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008880	−0.079%	$37.1M	$155.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008873	−0.158%	$23.4M	$37.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008874	−0.147%	$7.7M	$47.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008880	−0.079%	$20K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008884	−0.034%	$13.2M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008884	−0.034%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008882	−0.057%	$8.5M	$12.7M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008869	−0.203%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008868	−0.214%	$305K	$323K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008848	−0.443%	$469K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008870	−0.192%	$81K	$255K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009094	+2.329%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008881	−0.068%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008910	+0.258%	$91K	$300K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008874	−0.142%	$183K	$973K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008876	−0.124%	$205K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008874	−0.149%	$300	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008881	−0.068%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0520% / S −0.0723%	1h	0.008891	+0.044%	$117K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1648%	1h	0.008897	+0.112%	$95K	$103K	50x	as long as short