Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.028%

Price spread now: Aster against gTrade (Gains Network)−0.051%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. Aster is 0.051% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.051% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 44 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) PENGU/USD	0.008694	L +0.0007% / S −0.0003%	pay 0.0001% / 1h	55m 11s	$33K	—	150x
Short	Aster PENGUUSDT	0.008690	0.0100	get 0.0050% / 4h	2h 55m	$171K	$448K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee AsterbpOrdersPrice spread, now −0.051%Rate

Funding earned: $19.52
Price spread: −0.051% → 0.000%: −$5.06
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$3.54
Costs to cover: 0.180%
Break-even: 8.3 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Aster: live order book, 32 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Aster live order book, 32 min ago	4.54 bp	11.0 bp −$11	37.3 bp −$373	doesn't fit	doesn't fit

gTrade (Gains Network): 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	−0.0550%	1h	0.008697	+0.038%	$385K	$2.1M	50x	as long as short
Backpack PENGU_USDC_PERP	−0.0355%	1h	0.008687	−0.081%	$311K	$318K	10x	as long as short
Bybit PENGUUSDT	−0.0344%	4h	0.008684	−0.115%	$22.8M	$35.6M	75x	as long as short
Gate PENGU_USDT	−0.0302%	4h	0.008683	−0.127%	$3.4M	$15.3M	75x	as long as short
01 Exchange PENGUUSD	−0.0120%	1h	0.008679	−0.173%	$199	$59	5x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.241%	$3K	$81K	5.5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008684	−0.115%	$11K	$4K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008695	+0.011%	$21K	$8K	10x	as long as short
gTrade (Gains Network) PENGU/USDlong	L +0.0007% / S −0.0003%	1h	0.008694	long leg	$33K	—	150x
Nado PENGU-PERP	+0.0088%	1h	0.008679	−0.167%	$674K	$758K	5x	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	0.008693	−0.012%	$295K	$718K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008693	−0.012%	$8.7M	$15.1M	5x	as long as short
Aster PENGUUSDTshort	+0.0100%	4h	0.008690	−0.051%	$171K	$448K	20x
Pacifica PENGU	+0.0100%	1h	0.008674	−0.231%	$143K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008694	−0.004%	$36.0M	$150.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008686	−0.092%	$7.7M	$46.6M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008680	−0.161%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008691	−0.035%	$12.8M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008692	−0.023%	$4.8M	$8.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008689	−0.058%	$8.1M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008687	−0.081%	—	$4.0M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008676	−0.202%	$795K	$712K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008675	−0.219%	$454K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008677	−0.196%	$79K	$254K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008696	+0.023%	$21K	$185K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008879	+2.127%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008691	−0.035%	$981	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008688	−0.069%	$91K	$248K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008690	−0.046%	$178K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008690	−0.046%	$201K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008685	−0.106%	$293	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008675	−0.219%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0489% / S −0.0675%	1h	0.008693	−0.012%	$109K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+2.403%	$94K	$97K	50x	as long as short