Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.2604%/8h= +285.1% APRpaid last 24h +0.609%

Price spread now: Coinbase International against Aster+0.499%7-day average — · you sell dearer than you buy

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

Long on Aster Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+1.782%+$178 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$78 a day on $10k at the current rate, and Coinbase International is 0.499% dearer against Aster than usual: you sell high and buy low: +$50 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.782% in total (about 92.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.009024	0.0100	pay 0.0050% / 4h	3h 54m	$130K	$600K	20x
Short	Coinbase International PENGU-PERP-INTX	0.009069	0.2704	get 0.0338% / 1h	54m 13s	$96K	$61K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Aster. 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 AsterbpFee Coinbase InternationalbpOrdersPrice spread, now +0.499%Rate

Funding earned: $546.84
Price spread: +0.499% → 0.000%: $49.86
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $578.7
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Aster: live order book, 63 min ago; Coinbase International: no order-book sample. 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 Aster live order book, 63 min ago	8.58 bp	16.2 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008998	−0.288%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009002	−0.241%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.604%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0064%	1h	0.009035	+0.124%	$12K	$5K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009006	−0.200%	$325K	$725K	8x	as long as short
01 Exchange PENGUUSD	+0.0096%	1h	0.009011	−0.144%	$206	$64	5x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008998	−0.283%	$605K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009007	−0.188%	$8.4M	$14.7M	5x	as long as short
Aster PENGUUSDTlong	+0.0100%	4h	0.009024	long leg	$130K	$600K	20x
Pacifica PENGU	+0.0100%	1h	0.009033	+0.100%	$159K	$243K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PENGUUSDT	+0.0100%	4h	0.009004	−0.223%	$38.7M	$167.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008997	−0.299%	$23.9M	$40.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008993	−0.344%	$7.7M	$49.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009010	−0.155%	$19K	$24K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009001	−0.255%	$3.4M	$15.9M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009003	−0.233%	$11.0M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009014	−0.111%	$4.9M	$9.3M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009005	−0.211%	$8.8M	$12.8M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009006	−0.200%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009035	+0.122%	$302K	$330K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008998	−0.289%	$934K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008963	−0.671%	$478K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008966	−0.643%	$81K	$242K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008997	−0.299%	$24K	$85K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009218	+2.150%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008997	−0.299%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009016	−0.089%	$93K	$377K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008991	−0.366%	$186K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008994	−0.333%	$208K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008999	−0.281%	$304	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009023	−0.011%	$1.5M	$4.0M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0514% / S −0.0477%	1h	0.009001	−0.255%	$127K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0607%	1h	0.009009	−0.166%	$351K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTXshort	+0.2704%	1h	0.009069	+0.499%	$96K	$61K	50x