Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0097%/8h= −10.6% APRpaid last 24h −0.029%

Price spread now: gTrade (Gains Network) against Aster+0.048%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 gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. gTrade (Gains Network) is 0.048% dearer against Aster than usual: you sell high and buy low (spread +0.048% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.008950	0.0100	pay 0.0050% / 4h	3h 28m	$138K	$640K	20x
Short	gTrade (Gains Network) PENGU/USD	0.008954	L +0.0007% / S −0.0003%	get 0.0000% / 1h	28m 22s	$33K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.048%Rate

Funding earned: −$20.38
Price spread: +0.048% → 0.000%: $4.77
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$33.61
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 24 min ago; gTrade (Gains Network): 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, 24 min ago	4.95 bp	10.9 bp −$11	61.5 bp −$615	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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
Gate PENGU_USDT	−0.0020%	4h	0.008941	−0.097%	$3.4M	$16.4M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008957	+0.081%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USDshort	L +0.0007% / S −0.0003%	1h	0.008954	+0.048%	$33K	—	150x
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.796%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0038%	1h	0.008957	+0.079%	$12K	$5K	5x	as long as short
01 Exchange PENGUUSD	+0.0080%	1h	0.008945	−0.053%	$205	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008957	+0.081%	$326K	$751K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008941	−0.092%	$600K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008956	+0.070%	$8.5M	$15.1M	5x	as long as short
Aster PENGUUSDTlong	+0.0100%	4h	0.008950	long leg	$138K	$640K	20x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008956	+0.070%	$137K	$272K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008953	+0.037%	$38.3M	$171.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008945	−0.053%	$23.8M	$41.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008952	+0.025%	$7.8M	$50.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008960	+0.115%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008947	−0.030%	$11.0M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008944	−0.064%	$5.0M	$9.4M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008958	+0.093%	$8.7M	$12.9M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008945	−0.053%	—	$3.5M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008955	+0.059%	$299K	$327K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009000	+0.561%	$939K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009016	+0.743%	$470K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009018	+0.763%	$82K	$251K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008957	+0.081%	$24K	$102K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009172	+2.484%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008961	+0.126%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008972	+0.249%	$93K	$379K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008952	+0.030%	$186K	$939K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008950	+0.003%	$207K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008942	−0.086%	$302	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008960	+0.115%	$1.5M	$4.2M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0503% / S −0.0415%	1h	0.008952	+0.025%	$127K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0610%	1h	0.008965	+0.170%	$351K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.009007	+0.640%	$95K	$62K	50x	as long as short