Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0598%/8hpaid last 24h +0.073%

Price spread now: GMX against Aster−0.045%7-day average +0.013% · you buy dearer than you sell

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

Long on Aster Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.187%+$19 on $10k

Price spread, last 3 days (all we have)+0.058%+$6 · spread now −0.045%, 7d avg +0.013%

Together, before fees+0.245%+ Points / potential airdropAster: Stage 5 · farm board+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.058% cheaper against Aster than usual: you would sell low and buy high (spread −0.045% now, against its 7-day average of +0.013%). If the spread goes back, that is −$6 on $10k: about 8 hours of funding at the current rate (+$18 a day). At the pace of the last 3 days (+0.187% in total) that is about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.008874	0.0100	pay 0.0050% / 4h	7m 17s	$175K	$408K	20x
Short	GMX PENGU/USD [WBTC.b-USDC]	0.008870	L +0.0507% / S −0.0698%	get 0.0087% / 1h	7m 17s	$114K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.045%Rate

Funding earned: $125.63
Price spread: −0.045% → +0.013%: −$5.77
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $99.86
Costs to cover: 0.200%
Break-even: 1.4 days

Slippage unknown: Aster: live order book, 24 min ago; GMX: 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	4.48 bp	11.0 bp −$11	103.3 bp −$1,033	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0088%	1h	0.008867	−0.079%	$20K	$7K	10x	as long as short
Gate PENGU_USDT	−0.0086%	4h	0.008866	−0.090%	$3.6M	$14.4M	75x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008873	−0.012%	$12K	$5K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008871	−0.034%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008884	+0.113%	$3K	$75K	5.5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0039%	1h	0.008869	−0.055%	$408K	$2.0M	50x	as long as short
Lighter PENGU	+0.0096%	1h	0.008870	−0.045%	$325K	$623K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008862	−0.130%	$679K	$736K	5x	as long as short
Aster PENGUUSDTlong	+0.0100%	4h	0.008874	long leg	$175K	$408K	20x
Pacifica PENGU	+0.0100%	1h	0.008870	−0.045%	$194K	$162K	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	0.008864	−0.115%	$37.7M	$143.0M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008857	−0.192%	$23.5M	$32.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008860	−0.158%	$8.1M	$45.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008870	−0.045%	$20K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008862	−0.135%	$12.9M	$11.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008866	−0.090%	$4.8M	$8.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008866	−0.090%	$8.1M	$11.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008864	−0.113%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008862	−0.135%	$315K	$314K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008868	−0.062%	$836K	$597K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008881	+0.074%	$475K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008867	−0.079%	$84K	$254K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008869	−0.056%	$21K	$187K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009078	+2.299%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008863	−0.124%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008883	+0.101%	$98K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008861	−0.142%	$182K	$680K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008865	−0.101%	$205K	$17K	3x	as long as short
Hyperliquid PENGU	+0.0171%	1h	0.008881	+0.079%	$10.8M	$13.3M	5x	as long as short
Reya PENGURUSDPERP	+0.0236%	1h	0.008867	−0.078%	$299	—	10x	as long as short
01 Exchange PENGUUSD	+0.0248%	1h	0.008877	+0.034%	$203	$59	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008872	−0.023%	$1.6M	$2.5M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]short	L +0.0507% / S −0.0698%	1h	0.008870	−0.045%	$114K	—	100x
Coinbase International PENGU-PERP-INTX	+0.2976%	1h	0.009092	+2.457%	$96K	$108K	50x	as long as short