Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Aster−0.136%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$430.426% of the position

Long on Aster Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now −0.136%, 7d avg −0.082%

Together, before fees+0.036%+ Points / potential airdropAster: Stage 5 · Extended: Active · farm board+$4 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: Extended is 0.054% cheaper against Aster than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.008789	0.0100	pay 0.0050% / 4h	2h 33m	$168K	$506K	20x
Short	Extended PENGU-USD	0.008777	0.0104	get 0.0013% / 1h	33m 32s	$181K	$939K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.136%Rate

Funding earned: $0.84
Price spread: −0.136% → −0.082%: −$5.37
Slippage, 4 orders: −$29.63
Fee Aster: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$47.16
Costs to cover: 0.426%
Break-even: 400.0 days

Slippage from Aster: live order book, 34 min ago; Extended: live order book, 35 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, 34 min ago	4.47 bp	10.9 bp −$11	150.4 bp −$1,504	doesn't fit	doesn't fit
Sell Extended live order book, 35 min ago	1.68 bp	10.6 bp −$11	45.8 bp −$458	doesn't fit	doesn't fit

PENGU on 33 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
Variational Omni PENGU	−0.0010%	4h	0.008770	−0.216%	$872K	$1.0M	—	as long as short
Gate PENGU_USDT	0.0000%	4h	0.008781	−0.092%	$3.4M	$15.5M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008811	+0.249%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008792	+0.031%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.001%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0072%	1h	0.008785	−0.047%	$201	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008794	+0.056%	$311K	$707K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008811	+0.249%	$19K	$170K	20x	as long as short
Nado PENGU-PERP	+0.0099%	1h	0.008790	+0.010%	$592K	$991K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008795	+0.067%	$8.3M	$14.9M	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDTlong	+0.0100%	4h	0.008789	long leg	$168K	$506K	20x
Pacifica PENGU	+0.0100%	1h	0.008790	+0.010%	$155K	$245K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008794	+0.060%	$37.5M	$157.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008786	−0.035%	$22.9M	$38.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008792	+0.033%	$7.5M	$47.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008780	−0.104%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008795	+0.067%	$12.0M	$12.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008793	+0.044%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008794	+0.056%	$8.3M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008791	+0.022%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008812	+0.261%	$302K	$320K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008804	+0.170%	$472K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008802	+0.147%	$80K	$248K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009028	+2.718%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008812	+0.261%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008811	+0.249%	$89K	$327K	25x	as long as short
Extended PENGU-USDshort	+0.0104%	1h	0.008777	−0.136%	$181K	$939K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008805	+0.181%	$203K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008820	+0.349%	$363K	$2.3M	50x	as long as short
dYdX PENGU-USD	+0.0238%	1h	0.008789	−0.004%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008790	+0.008%	$297	—	10x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0512% / S −0.0708%	1h	0.008793	+0.044%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+2.024%	$95K	$104K	50x	as long as short