Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Aster against Extended+0.148%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

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

costs, in and out, $10k−$460.455% of the position

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 4 days (all we have)−0.071%−$7 · spread now +0.148%, 7d avg +0.082%

Together, before fees−0.055%+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm board−$6 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 0.066% dearer against Extended than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENGU-USD	0.008786	0.0104	pay 0.0013% / 1h	0m 35s	$181K	$622K	10x
Short	Aster PENGUUSDT	0.008799	0.0100	get 0.0050% / 4h	1h 00m	$190K	$467K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Extended. 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 ExtendedbpFee AsterbpOrdersPrice spread, now +0.148%Rate

Funding earned: −$0.84
Price spread: +0.148% → +0.082%: $6.6
Slippage, 4 orders: −$32.5
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$39.74
Costs to cover: 0.455%
Break-even: never at this rate

Slippage from Extended: live order book, 17 min ago; Aster: live order book, 17 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 Extended live order book, 17 min ago	1.71 bp	10.9 bp −$11	64.6 bp −$646	doesn't fit	doesn't fit
Sell Aster live order book, 17 min ago	5.12 bp	11.6 bp −$12	57.5 bp −$575	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
Kraken Futures PF_PENGUUSD	−0.0607%	1h	0.008787	+0.018%	$367K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0270%	4h	0.008787	+0.014%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0204%	4h	0.008782	−0.043%	$22.8M	$36.5M	75x	as long as short
01 Exchange PENGUUSD	−0.0120%	1h	0.008785	−0.009%	$201	$59	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0092%	1h	0.008777	−0.100%	$19K	$9K	10x	as long as short
Variational Omni PENGU	−0.0087%	4h	0.008784	−0.017%	$802K	$802K	—	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008778	−0.094%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.037%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	+0.0054%	1h	0.008771	−0.168%	$683K	$760K	5x	as long as short
Backpack PENGU_USDC_PERP	+0.0076%	1h	0.008788	+0.025%	$313K	$309K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENGU	+0.0096%	1h	0.008794	+0.094%	$308K	$737K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008777	−0.100%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008794	+0.094%	$8.5M	$15.2M	5x	as long as short
Aster PENGUUSDTshort	+0.0100%	4h	0.008799	+0.148%	$190K	$467K	20x
Pacifica PENGU	+0.0100%	1h	0.008790	+0.048%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008789	+0.034%	$36.5M	$153.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008786	+0.003%	$7.6M	$47.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008790	+0.048%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008789	+0.037%	$12.6M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008792	+0.071%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008793	+0.082%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008788	+0.025%	—	$3.9M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008795	+0.100%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008782	−0.043%	$80K	$253K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008988	+2.302%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008774	−0.134%	$998	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008791	+0.060%	$92K	$249K	25x	as long as short
Extended PENGU-USDlong	+0.0104%	1h	0.008786	long leg	$181K	$622K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008773	−0.145%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0122%	1h	0.008797	+0.124%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008770	−0.174%	$296	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008782	−0.043%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0711%	1h	0.008779	−0.077%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008914	+1.460%	$95K	$105K	50x	as long as short