Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.013%

Price spread now: Hyperliquid against Aster−0.015%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$380.380% of the position

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.078%−$8 on $10k

Price spread, last 4 days (all we have)+0.017%+$2 · spread now −0.015%, 7d avg +0.002%

Together, before fees−0.062%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board−$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.008816	0.0100	pay 0.0050% / 4h	2h 52m	$169K	$485K	20x
Short	Hyperliquid PENGU	0.008815	0.0100	get 0.0013% / 1h	52m 56s	$8.3M	$14.9M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.015%Rate

Funding earned: $0
Price spread: −0.015% → +0.002%: −$1.68
Slippage, 4 orders: −$21.03
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$39.71
Costs to cover: 0.380%
Break-even: never at this rate

Slippage from Aster: live order book, 14 min ago; Hyperliquid: live order book, 10 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, 14 min ago	4.47 bp	10.9 bp −$11	150.4 bp −$1,504	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	0.57 bp	6.6 bp −$7	doesn't fit	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
ApeX Omni PENGUUSDT	−0.1869%	1h	0.008781	−0.401%	$80K	$249K	50x	as long as short
Nado PENGU-PERP	−0.0228%	1h	0.008787	−0.332%	$517K	$901K	5x	as long as short
Variational Omni PENGU	−0.0113%	4h	0.008707	−1.238%	$863K	$1.0M	—	as long as short
Gate PENGU_USDT	−0.0092%	4h	0.008829	+0.144%	$3.4M	$15.3M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008799	−0.196%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008791	−0.288%	$32K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0024%	1h	0.008777	−0.446%	$201	$64	5x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.310%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0067%	1h	0.008758	−0.664%	$12K	$4K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008811	−0.060%	$306K	$698K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_PENGU_USDC	+0.0097%	4h	0.008795	−0.242%	$19K	$179K	20x	as long as short
Hyperliquid PENGUshort	+0.0100%	1h	0.008815	−0.015%	$8.3M	$14.9M	5x
Aster PENGUUSDTlong	+0.0100%	4h	0.008816	long leg	$169K	$485K	20x
Pacifica PENGU	+0.0100%	1h	0.008764	−0.593%	$151K	$240K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008830	+0.155%	$37.3M	$156.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008825	+0.099%	$23.0M	$37.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008825	+0.099%	$7.5M	$47.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008770	−0.525%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008828	+0.133%	$12.4M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008833	+0.189%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008834	+0.201%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008829	+0.144%	—	$3.7M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008815	−0.015%	$302K	$323K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008735	−0.926%	$463K	$2.0M	10x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009000	+2.084%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008802	−0.162%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008802	−0.162%	$90K	$303K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008827	+0.125%	$181K	$940K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008795	−0.242%	$203K	—	3x	as long as short
Kraken Futures PF_PENGUUSD	+0.0210%	1h	0.008812	−0.049%	$364K	$2.3M	50x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008787	−0.335%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008809	−0.083%	$1.5M	$3.2M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0675%	1h	0.008785	−0.355%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1352%	1h	0.008967	+1.709%	$95K	$104K	50x	as long as short