Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Aster−0.072%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$310.310% of the position

Long on Aster Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 4 days (all we have)+0.199%+$20 · spread now −0.072%, 7d avg −0.040%

Together, before fees+0.181%+ Points / potential airdropAster: Stage 5 · farm board+$18 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: MEXC is 0.032% cheaper against Aster than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.008702	0.0100	pay 0.0050% / 4h	2h 58m	$172K	$448K	20x
Short	MEXC PENGU_USDT	0.008696	0.0100	get 0.0050% / 4h	2h 58m	$12.8M	$12.6M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.072%Rate

Funding earned: $0
Price spread: −0.072% → −0.040%: −$3.19
Slippage, 4 orders: −$23.02
Fee Aster: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$34.22
Costs to cover: 0.310%
Break-even: never at this rate

Slippage from Aster: live order book, 28 min ago; MEXC: live order book, 5 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, 28 min ago	4.54 bp	11.8 bp −$12	117.5 bp −$1,175	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.57 bp	4.2 bp −$4	12.3 bp −$123	57.0 bp −$5,701	116.7 bp −$58.4K

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
Backpack PENGU_USDC_PERP	−0.0592%	1h	0.008700	−0.026%	$311K	$324K	10x	as long as short
Kraken Futures PF_PENGUUSD	−0.0549%	1h	0.008714	+0.135%	$385K	$2.2M	50x	as long as short
Bybit PENGUUSDT	−0.0351%	4h	0.008687	−0.175%	$22.8M	$35.6M	75x	as long as short
Gate PENGU_USDT	−0.0316%	4h	0.008689	−0.152%	$3.4M	$15.3M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0209%	1h	0.008710	+0.089%	$21K	$8K	10x	as long as short
01 Exchange PENGUUSD	−0.0136%	1h	0.008696	−0.072%	$199	$59	5x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.146%	$3K	$81K	5.5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008702	−0.008%	$11K	$5K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008694	−0.100%	$33K	—	150x	as long as short
Lighter PENGU	+0.0096%	1h	0.008699	−0.038%	$294K	$718K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008701	−0.015%	$8.7M	$15.1M	5x	as long as short
Aster PENGUUSDTlong	+0.0100%	4h	0.008702	long leg	$172K	$448K	20x
Pacifica PENGU	+0.0100%	1h	0.008700	−0.026%	$143K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008696	−0.076%	$36.0M	$150.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008693	−0.107%	$7.7M	$46.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008700	−0.026%	$19K	$24K	5x	as long as short
MEXC PENGU_USDTshort	+0.0100%	4h	0.008696	−0.072%	$12.8M	$12.6M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008695	−0.084%	$4.8M	$8.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008700	−0.026%	$8.2M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008688	−0.164%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008738	+0.406%	$802K	$708K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008715	+0.146%	$456K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008718	+0.181%	$79K	$254K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008693	−0.101%	$675K	$766K	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008710	+0.089%	$21K	$185K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008927	+2.582%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008706	+0.043%	$987	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008742	+0.457%	$91K	$248K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008696	−0.078%	$178K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008706	+0.043%	$201K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008692	−0.121%	$294	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008711	+0.100%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0490% / S −0.0675%	1h	0.008711	+0.100%	$109K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+2.307%	$94K	$97K	50x	as long as short