Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0025%/8h= +2.7% APRpaid last 24h +0.354%

Price spread now: dYdX against Aster−0.052%7-day average — · you buy dearer than you sell

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

Long on Aster Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 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. dYdX is 0.052% cheaper against Aster than usual: you would sell low and buy high (spread −0.052% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 7.0 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.008796	0.0100	pay 0.0050% / 4h	1h 18m	$189K	$466K	20x
Short	dYdX PENGU-USD	0.008791	0.0125	get 0.0016% / 1h	18m 43s	$12K	$4K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.052%Rate

Funding earned: $5.16
Price spread: −0.052% → 0.000%: −$5.15
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$17.99
Costs to cover: 0.180%
Break-even: 31.4 days

Slippage unknown: Aster: live order book, 64 min ago; dYdX: 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, 64 min ago	5.16 bp	11.5 bp −$11	102.7 bp −$1,027	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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	−0.0606%	1h	0.008798	+0.025%	$368K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0290%	4h	0.008789	−0.077%	$3.4M	$15.6M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0205%	1h	0.008788	−0.089%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0154%	4h	0.008787	−0.100%	$22.9M	$36.5M	75x	as long as short
01 Exchange PENGUUSD	−0.0080%	1h	0.008781	−0.168%	$201	$59	5x	as long as short
Variational Omni PENGU	−0.0017%	4h	0.008789	−0.073%	$803K	$802K	—	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008795	−0.005%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.077%	$3K	$117K	5.5x	as long as short
Nado PENGU-PERP	+0.0094%	1h	0.008790	−0.060%	$684K	$759K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008793	−0.032%	$308K	$736K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008796	+0.002%	$8.7M	$15.0M	5x	as long as short
Aster PENGUUSDTlong	+0.0100%	4h	0.008796	long leg	$189K	$466K	20x
Pacifica PENGU	+0.0100%	1h	0.008792	−0.043%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008790	−0.066%	$36.5M	$153.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008790	−0.066%	$7.7M	$47.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008790	−0.066%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008789	−0.077%	$12.7M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008793	−0.032%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008794	−0.020%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008782	−0.157%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008787	−0.100%	$313K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008792	−0.045%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008803	+0.082%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008789	−0.077%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009000	+2.322%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008785	−0.123%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008807	+0.127%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008784	−0.131%	$181K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008785	−0.123%	$203K	$17K	3x	as long as short
dYdX PENGU-USDshort	+0.0125%	1h	0.008791	−0.052%	$12K	$4K	5x
Reya PENGURUSDPERP	+0.0237%	1h	0.008794	−0.026%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008784	−0.134%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0711%	1h	0.008797	+0.014%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	+1.696%	$95K	$105K	50x	as long as short