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 −0.001%

Price spread now: GRVT against Aster−0.338%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$500.502% of the position

Long on Aster Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.055%−$6 on $10k

Price spread, last 4 days (all we have)+1.756%+$176 · spread now −0.338%, 7d avg −0.041%

Together, before fees+1.701%+ Points / potential airdropAster: Stage 5 · GRVT: Active · farm board+$170 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: GRVT is 0.297% cheaper against Aster than usual: you would sell low and buy high, −$30 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.008718	0.0100	pay 0.0050% / 4h	1h 45m	$128K	$573K	20x
Short	GRVT PENGU_USDT_Perp	0.008688	0.0100	get 0.0050% / 4h	1h 45m	$455K	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.338%Rate

Funding earned: $0
Price spread: −0.338% → −0.041%: −$29.71
Slippage, 4 orders: −$33.22
Fee Aster: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$79.93
Costs to cover: 0.502%
Break-even: never at this rate

Slippage from Aster: live order book, 17 min ago; GRVT: live order book, 3 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, 17 min ago	3.97 bp	10.2 bp −$10	68.7 bp −$687	doesn't fit	doesn't fit
Sell GRVT live order book, 3 min ago	2.29 bp	8.9 bp −$9	26.3 bp −$263	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
Deribit PENGU_USDC-PERPETUAL	−0.0094%	1h	0.008713	−0.055%	$18K	$10K	10x	as long as short
01 Exchange PENGUUSD	0.0000%	1h	0.008722	+0.048%	$200	$64	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008712	−0.066%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0030%	4h	0.008717	−0.009%	$3.4M	$15.5M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.817%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008719	+0.014%	$310K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008713	−0.055%	$23K	$165K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008717	−0.003%	$587K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008720	+0.025%	$8.1M	$14.6M	5x	as long as short
Aster PENGUUSDTlong	+0.0100%	4h	0.008718	long leg	$128K	$573K	20x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008706	−0.135%	$153K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008717	−0.009%	$36.6M	$159.2M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008715	−0.032%	$23.2M	$38.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008720	+0.025%	$7.4M	$46.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008720	+0.025%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008715	−0.032%	$11.5M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008710	−0.089%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008721	+0.037%	$8.2M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008717	−0.009%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008718	+0.003%	$299K	$276K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008701	−0.193%	$863K	$986K	—	as long as short
GRVT PENGU_USDT_Perpshort	+0.0100%	4h	0.008688	−0.338%	$455K	$2.0M	10x
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008708	−0.112%	$79K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008921	+2.331%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008712	−0.066%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008734	+0.186%	$91K	$348K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008711	−0.081%	$182K	$941K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008710	−0.089%	$201K	—	3x	as long as short
dYdX PENGU-USD	+0.0219%	1h	0.008704	−0.154%	$11K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008719	+0.010%	$294	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008710	−0.089%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0582%	1h	0.008712	−0.066%	$119K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0652%	1h	0.008721	+0.042%	$357K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.859%	$95K	$94K	50x	as long as short