Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0423%/8h= +46.3% APRpaid last 24h +0.060%

Price spread now: Aster against Deribit+0.058%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Aster is 0.058% dearer against Deribit than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit PENGU_USDC-PERPETUAL	0.008722	−0.0323	get 0.0040% / 1h	11m 44s	$19K	$9K	10x
Short	Aster PENGUUSDT	0.008727	0.0100	get 0.0050% / 4h	11m 44s	$187K	$474K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Deribit. 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 DeribitbpFee AsterbpOrdersPrice spread, now +0.058%Rate

Funding earned: $88.83
Price spread: +0.058% → 0.000%: $5.84
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: $79.67
Costs to cover: 0.150%
Break-even: 0.7 days

Slippage unknown: Deribit: no order-book sample; Aster: live order book, 66 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell Aster live order book, 66 min ago	5.12 bp	11.6 bp −$12	57.5 bp −$575	doesn't fit	doesn't fit

Deribit: 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	−0.0343%	1h	0.008728	+0.071%	$366K	$2.3M	50x	as long as short
Deribit PENGU_USDC-PERPETUALlong	−0.0323%	1h	0.008722	long leg	$19K	$9K	10x
Bybit PENGUUSDT	−0.0320%	4h	0.008704	−0.206%	$22.7M	$36.9M	75x	as long as short
Gate PENGU_USDT	−0.0308%	4h	0.008717	−0.057%	$3.4M	$15.7M	75x	as long as short
Variational Omni PENGU	−0.0295%	4h	0.008731	+0.106%	$767K	$832K	—	as long as short
01 Exchange PENGUUSD	−0.0272%	1h	0.008719	−0.034%	$199	$59	5x	as long as short
Backpack PENGU_USDC_PERP	−0.0183%	1h	0.008719	−0.034%	$306K	$315K	10x	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	+0.768%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	−0.0020%	1h	0.008729	+0.075%	$694K	$777K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008729	+0.080%	$33K	—	150x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PENGU-USD	+0.0019%	1h	0.008716	−0.064%	$12K	$4K	5x	as long as short
GRVT PENGU_USDT_Perp	+0.0084%	4h	0.008741	+0.218%	$457K	$2.1M	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.008712	−0.115%	$305K	$741K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008723	+0.011%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008716	−0.069%	$8.4M	$15.3M	5x	as long as short
Aster PENGUUSDTshort	+0.0100%	4h	0.008727	+0.058%	$187K	$474K	20x
Pacifica PENGU	+0.0100%	1h	0.008712	−0.115%	$150K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008711	−0.126%	$36.0M	$155.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008702	−0.229%	$7.5M	$46.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008710	−0.138%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008711	−0.126%	$12.3M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008712	−0.115%	$4.7M	$9.0M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008712	−0.115%	$8.3M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008702	−0.229%	—	$2.3M	—	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008724	+0.023%	$79K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008935	+2.442%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008718	−0.046%	$998	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008749	+0.310%	$91K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008724	+0.021%	$180K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008717	−0.057%	$201K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0238%	1h	0.008725	+0.039%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008721	−0.011%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0496% / S −0.0683%	1h	0.008731	+0.103%	$110K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008768	+0.527%	$93K	$103K	50x	as long as short