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 +0.001%

Price spread now: Aster against GRVT+0.123%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$500.502% of the position

Long on GRVT Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$6 on $10k

Price spread, last 4 days (all we have)−1.541%−$154 · spread now +0.123%, 7d avg +0.041%

Together, before fees−1.486%+ Points / potential airdropGRVT: Active · Aster: Stage 5 · farm board−$149 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 0.082% dearer against GRVT than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT PENGU_USDT_Perp	0.008688	0.0100	pay 0.0050% / 4h	1h 45m	$455K	$2.0M	10x
Short	Aster PENGUUSDT	0.008699	0.0100	get 0.0050% / 4h	1h 45m	$128K	$573K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GRVT. 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 GRVTbpFee AsterbpOrdersPrice spread, now +0.123%Rate

Funding earned: $0
Price spread: +0.123% → +0.041%: $8.21
Slippage, 4 orders: −$33.22
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$42.01
Costs to cover: 0.502%
Break-even: never at this rate

Slippage from GRVT: live order book, 3 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 GRVT live order book, 3 min ago	2.29 bp	19.1 bp −$19	31.2 bp −$312	doesn't fit	doesn't fit
Sell Aster live order book, 17 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	0.0000%	1h	0.008722	+0.388%	$200	$64	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008707	+0.215%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008708	+0.222%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0030%	4h	0.008715	+0.307%	$3.4M	$15.5M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+1.159%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008706	+0.204%	$309K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008705	+0.192%	$23K	$165K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008717	+0.336%	$587K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008721	+0.377%	$8.1M	$14.6M	5x	as long as short
Aster PENGUUSDTshort	+0.0100%	4h	0.008699	+0.123%	$128K	$573K	20x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008706	+0.204%	$153K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008717	+0.331%	$36.6M	$159.2M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008718	+0.342%	$23.2M	$38.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008722	+0.388%	$7.4M	$46.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008720	+0.365%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008719	+0.354%	$11.5M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008718	+0.342%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008723	+0.400%	$8.2M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008709	+0.238%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008699	+0.123%	$298K	$276K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008701	+0.146%	$863K	$986K	—	as long as short
GRVT PENGU_USDT_Perplong	+0.0100%	4h	0.008688	long leg	$455K	$2.0M	10x
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008708	+0.227%	$79K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008908	+2.529%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008695	+0.077%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008725	+0.423%	$91K	$348K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008716	+0.322%	$182K	$941K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008702	+0.158%	$201K	—	3x	as long as short
dYdX PENGU-USD	+0.0219%	1h	0.008704	+0.185%	$11K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008719	+0.350%	$294	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008684	−0.049%	—	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0582%	1h	0.008709	+0.238%	$118K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0653%	1h	0.008709	+0.237%	$357K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+3.208%	$95K	$94K	50x	as long as short