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 MEXC−0.077%7-day average +0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

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

costs, in and out, $10k−$270.272% of the position

Long on MEXC 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)−0.050%−$5 · spread now −0.077%, 7d avg +0.041%

Together, before fees−0.037%+ Points / potential airdropAster: Stage 5 · farm board−$4 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 0.119% cheaper against MEXC than usual: you would sell low and buy high, −$12 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	MEXC PENGU_USDT	0.008750	0.0100	pay 0.0050% / 4h	1h 43m	$11.6M	$12.3M	125x
Short	Aster PENGUUSDT	0.008743	0.0100	get 0.0050% / 4h	1h 43m	$131K	$574K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against MEXC. 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 MEXCbpFee AsterbpOrdersPrice spread, now −0.077%Rate

Funding earned: $0
Price spread: −0.077% → +0.041%: −$11.88
Slippage, 4 orders: −$19.22
Fee MEXC: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$39.1
Costs to cover: 0.272%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Aster: live order book, 19 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 MEXC live order book, 5 min ago	0.57 bp	3.4 bp −$3	10.6 bp −$106	57.4 bp −$5,739	121.3 bp −$60.6K
Sell Aster live order book, 19 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	−0.0008%	1h	0.008742	−0.091%	$200	$64	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008757	+0.080%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008753	+0.030%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0026%	4h	0.008750	0.000%	$3.4M	$15.6M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.446%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008745	−0.057%	$311K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008756	+0.069%	$23K	$165K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008745	−0.051%	$588K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008745	−0.057%	$8.1M	$14.6M	5x	as long as short
Aster PENGUUSDTshort	+0.0100%	4h	0.008743	−0.077%	$131K	$574K	20x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008743	−0.080%	$154K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008752	+0.023%	$36.7M	$159.5M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008752	+0.023%	$23.3M	$38.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008757	+0.080%	$7.5M	$46.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	−0.114%	$19K	$24K	5x	as long as short
MEXC PENGU_USDTlong	+0.0100%	4h	0.008750	long leg	$11.6M	$12.3M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.008740	−0.114%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008758	+0.091%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008745	−0.057%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008727	−0.263%	$299K	$275K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008701	−0.560%	$863K	$986K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008688	−0.705%	$455K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008710	−0.457%	$79K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008958	+2.377%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008758	+0.091%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008743	−0.080%	$91K	$348K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008757	+0.076%	$183K	$941K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008746	−0.046%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0210%	1h	0.008745	−0.055%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008746	−0.049%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008710	−0.457%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0582%	1h	0.008753	+0.034%	$119K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0649%	1h	0.008767	+0.191%	$359K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.480%	$95K	$94K	50x	as long as short