Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0210%/8h= −23.0% APRpaid last 24h +0.096%

Price spread now: Injective against Aster+0.307%7-day average — · you sell dearer than you buy

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

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.206%+$21 on $10k

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 pays, funding is against you. Injective is 0.307% dearer against Aster than usual: you sell high and buy low (spread +0.307% now, against zero (this spread has no 7-day history yet)): +$31 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 4.9 days. Mind the row above: over the last 7 days funding on this pair paid +0.206%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.008688	0.0100	pay 0.0050% / 4h	2h 17m	$172K	$448K	20x
Short	Injective PENGU/USDC PERP	0.008715	−0.0110	pay 0.0014% / 1h	17m 05s	$3K	$81K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.307%Rate

Funding earned: −$44.17
Price spread: +0.307% → 0.000%: $30.65
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$21.54
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Aster: live order book, 5 min ago; Injective: 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, 5 min ago	5.16 bp	11.5 bp −$11	102.7 bp −$1,027	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0550%	1h	0.008692	+0.041%	$386K	$2.1M	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0440%	1h	0.008689	+0.007%	$19K	$9K	10x	as long as short
Gate PENGU_USDT	−0.0260%	4h	0.008678	−0.119%	$3.4M	$15.4M	75x	as long as short
Injective PENGU/USDC PERPshort	−0.0110%	1h	0.008715	+0.307%	$3K	$81K	5.5x
dYdX PENGU-USD	0.0000%	1h	0.008692	+0.039%	$11K	$4K	5x	as long as short
Backpack PENGU_USDC_PERP	+0.0006%	1h	0.008682	−0.073%	$310K	$314K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008693	+0.053%	$33K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0008%	1h	0.008693	+0.053%	$199	$59	5x	as long as short
Bybit PENGUUSDT	+0.0027%	4h	0.008675	−0.154%	$22.5M	$36.0M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008682	−0.073%	$297K	$723K	8x	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	0.008687	−0.016%	$674K	$757K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008689	+0.007%	$8.7M	$15.2M	5x	as long as short
Aster PENGUUSDTlong	+0.0100%	4h	0.008688	long leg	$172K	$448K	20x
Pacifica PENGU	+0.0100%	1h	0.008688	−0.004%	$146K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008681	−0.085%	$35.9M	$151.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008681	−0.085%	$7.7M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008690	+0.019%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008685	−0.039%	$12.8M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008685	−0.039%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008688	−0.004%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008685	−0.039%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008709	+0.238%	$799K	$714K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008696	+0.089%	$455K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008718	+0.341%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008692	+0.042%	$23K	$184K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008899	+2.424%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008683	−0.062%	$988	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008716	+0.318%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008685	−0.045%	$179K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008686	−0.027%	$201K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008688	−0.007%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008685	−0.039%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0703%	1h	0.008692	+0.042%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008728	+0.456%	$94K	$97K	50x	as long as short