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 0.000%

Price spread now: Aster against Binance−0.048%7-day average +0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$380.384% of the position

Long on Binance Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 4 days (all we have)+0.126%+$13 · spread now −0.048%, 7d avg +0.042%

Together, before fees+0.139%+ Points / potential airdropAster: Stage 5 · farm board+$14 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: Aster is 0.091% cheaper against Binance than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PENGUUSDT	0.008798	0.0100	pay 0.0050% / 4h	1h 22m	$36.7M	$160.2M	75x
Short	Aster PENGUUSDT	0.008794	0.0100	get 0.0050% / 4h	1h 22m	$121K	$578K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Binance. 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 BinancebpFee AsterbpOrdersPrice spread, now −0.048%Rate

Funding earned: $0
Price spread: −0.048% → +0.042%: −$9.05
Slippage, 4 orders: −$20.38
Fee Binance: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$47.43
Costs to cover: 0.384%
Break-even: never at this rate

Slippage from Binance: live order book, 6 min ago; Aster: live order book, 40 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 Binance live order book, 6 min ago	0.57 bp	9.3 bp −$9	18.6 bp −$186	66.0 bp −$6,604	doesn't fit
Sell Aster live order book, 40 min ago	3.97 bp	12.1 bp −$12	79.2 bp −$792	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
01 Exchange PENGUUSD	−0.0048%	1h	0.008795	−0.034%	$201	$64	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008798	0.000%	$18K	$10K	10x	as long as short
Gate PENGU_USDT	+0.0006%	4h	0.008790	−0.091%	$3.4M	$15.6M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008793	−0.058%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.102%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008801	+0.034%	$312K	$711K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008796	−0.023%	$23K	$165K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008796	−0.023%	$590K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008793	−0.057%	$8.2M	$14.7M	5x	as long as short
Aster PENGUUSDTshort	+0.0100%	4h	0.008794	−0.048%	$121K	$578K	20x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008792	−0.068%	$155K	$243K	5x	as long as short
Binance PENGUUSDTlong	+0.0100%	4h	0.008798	long leg	$36.7M	$160.2M	75x
Bybit PENGUUSDT	+0.0100%	4h	0.008788	−0.114%	$23.3M	$38.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008790	−0.091%	$7.4M	$46.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008790	−0.091%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008798	0.000%	$11.4M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008791	−0.079%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008797	−0.011%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008790	−0.091%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008779	−0.216%	$300K	$290K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008728	−0.799%	$868K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008728	−0.794%	$455K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008751	−0.534%	$80K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009006	+2.364%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008797	−0.011%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008811	+0.148%	$92K	$354K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008794	−0.043%	$185K	$945K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008786	−0.136%	$203K	—	3x	as long as short
dYdX PENGU-USD	+0.0220%	1h	0.008790	−0.088%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008788	−0.118%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008790	−0.091%	$1.5M	$3.4M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0556% / S −0.0662%	1h	0.008793	−0.057%	$132K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0646%	1h	0.008806	+0.086%	$353K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+1.921%	$95K	$94K	50x	as long as short