Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Aster against Aevo+0.082%7-day average +0.061% · you sell dearer than you buy

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$910.906% of the position

Long on Aevo Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)+0.075%+$8 · spread now +0.082%, 7d avg +0.061%

Together, before fees+0.067%+ Points / potential airdropAster: Stage 5 · farm board+$7 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 0.021% dearer against Aevo than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo PENGU-PERP	0.008735	0.0104	pay 0.0013% / 1h	35m 59s	$202K	—	3x
Short	Aster PENGUUSDT	0.008742	0.0100	get 0.0050% / 4h	1h 35m	$121K	$577K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Aevo. 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 AevobpFee AsterbpOrdersPrice spread, now +0.082%Rate

Funding earned: −$0.84
Price spread: +0.082% → +0.061%: $2.07
Slippage, 4 orders: −$66.56
Fee Aevo: 8 bp × 2 orders: −$16
Fee Aster: 4 bp × 2 orders: −$8
Net: −$89.33
Costs to cover: 0.906%
Break-even: never at this rate

Slippage from Aevo: live order book, 28 min ago; Aster: live order book, 26 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 Aevo live order book, 28 min ago	11.36 bp	46.4 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 26 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	−0.0040%	1h	0.008733	−0.023%	$200	$64	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008743	+0.092%	$18K	$10K	10x	as long as short
Gate PENGU_USDT	+0.0004%	4h	0.008731	−0.046%	$3.3M	$15.6M	75x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008744	+0.103%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.618%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008749	+0.160%	$311K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008740	+0.057%	$22K	$166K	20x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008730	−0.052%	$586K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008743	+0.092%	$8.1M	$14.6M	5x	as long as short
Aster PENGUUSDTshort	+0.0100%	4h	0.008742	+0.082%	$121K	$577K	20x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008730	−0.057%	$154K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008733	−0.026%	$36.5M	$160.0M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008729	−0.069%	$23.3M	$38.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008727	−0.092%	$7.5M	$46.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008730	−0.057%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008738	+0.034%	$11.5M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008740	+0.057%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008742	+0.080%	$8.2M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008720	−0.172%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008741	+0.069%	$299K	$275K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008738	+0.032%	$868K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008709	−0.302%	$465K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008700	−0.401%	$80K	$243K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008950	+2.461%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008744	+0.103%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008749	+0.160%	$91K	$348K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008737	+0.024%	$180K	$944K	10x	as long as short
Aevo PENGU-PERPlong	+0.0104%	1h	0.008735	long leg	$202K	—	3x
dYdX PENGU-USD	+0.0188%	1h	0.008726	−0.102%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008730	−0.056%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008719	−0.183%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0582%	1h	0.008743	+0.092%	$119K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0650%	1h	0.008748	+0.152%	$354K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.656%	$95K	$94K	50x	as long as short