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% APRpaid last 24h −0.003%

Price spread now: Nado against Aster+0.046%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$470.471% of the position

Long on Aster Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.070%−$7 on $10k

Price spread, last 4 days (all we have)+0.542%+$54 · spread now +0.046%, 7d avg −0.033%

Together, before fees+0.472%+ Points / potential airdropAster: Stage 5 · Nado: Active · farm board+$47 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: Nado is 0.079% dearer against Aster than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.008740	0.0100	pay 0.0050% / 4h	54m 02s	$121K	$579K	20x
Short	Nado PENGU-PERP	0.008744	0.0100	get 0.0012% / 1h	54m 02s	$586K	$1.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.046%Rate

Funding earned: $0
Price spread: +0.046% → −0.033%: $7.87
Slippage, 4 orders: −$32.08
Fee Aster: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$39.21
Costs to cover: 0.471%
Break-even: never at this rate

Slippage from Aster: live order book, 4 min ago; Nado: live order book, 4 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, 4 min ago	8.58 bp	16.2 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 4 min ago	1.72 bp	7.6 bp −$8	46.1 bp −$461	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	−0.0359%	1h	0.008737	−0.040%	$80K	$242K	50x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008735	−0.062%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008741	+0.005%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0010%	4h	0.008735	−0.062%	$3.3M	$15.5M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.555%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0072%	1h	0.008746	+0.063%	$200	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008741	+0.006%	$311K	$712K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008737	−0.040%	$23K	$133K	20x	as long as short
Nado PENGU-PERPshort	+0.0100%	1h	0.008744	+0.046%	$586K	$1.0M	5x
Hyperliquid PENGU	+0.0100%	1h	0.008743	+0.029%	$8.1M	$14.7M	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster PENGUUSDTlong	+0.0100%	4h	0.008740	long leg	$121K	$579K	20x
Pacifica PENGU	+0.0100%	1h	0.008749	+0.098%	$154K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008740	−0.002%	$36.4M	$161.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008735	−0.062%	$23.1M	$39.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008736	−0.051%	$7.2M	$46.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008750	+0.109%	$19K	$23K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008739	−0.017%	$11.2M	$12.2M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008741	+0.006%	$4.8M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008737	−0.040%	$8.2M	$12.3M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008738	−0.028%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008737	−0.040%	$298K	$295K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008747	+0.075%	$870K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008757	+0.187%	$460K	$2.1M	10x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008964	+2.558%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008737	−0.040%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008749	+0.098%	$91K	$372K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008731	−0.105%	$184K	$942K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008728	−0.143%	$202K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008743	+0.032%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008738	−0.028%	$1.5M	$3.5M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0366%	1h	0.008745	+0.049%	$342K	$2.4M	50x	as long as short
dYdX PENGU-USD	+0.0442%	1h	0.008753	+0.141%	$12K	$5K	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0439%	1h	0.008740	−0.005%	$128K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2928%	1h	0.008967	+2.592%	$95K	$61K	50x	as long as short