Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.091%

Price spread now: Injective against Aster+0.615%7-day average −0.772% · you sell dearer than you buy

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

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.200%+$20 on $10k

Price spread, last 4 days (all we have)−1.330%−$133 · spread now +0.615%, 7d avg −0.772%

Together, before fees−1.130%+ Points / potential airdropAster: Stage 5 · farm board−$113 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 1.387% dearer against Aster than usual: you sell high and buy low (spread +0.615% now, against its 7-day average of −0.772%): +$139 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2 months. Mind the row above: over the last 7 days funding on this pair paid +0.200%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.008735	0.0100	pay 0.0050% / 4h	1h 35m	$121K	$577K	20x
Short	Injective PENGU/USDC PERP	0.008789	0.0033	get 0.0004% / 1h	35m 27s	$3K	$117K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.615%Rate

Funding earned: −$14
Price spread: +0.615% → −0.772%: $138.69
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $116.67
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Aster: live order book, 27 min ago; Injective: 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, 27 min ago	3.97 bp	10.2 bp −$10	68.7 bp −$687	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
01 Exchange PENGUUSD	−0.0040%	1h	0.008739	+0.043%	$200	$64	5x	as long as short
Gate PENGU_USDT	−0.0014%	4h	0.008740	+0.054%	$3.3M	$15.6M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008748	+0.146%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008748	+0.144%	$32K	—	150x	as long as short
Injective PENGU/USDC PERPshort	+0.0033%	1h	0.008789	+0.615%	$3K	$117K	5.5x
Lighter PENGU	+0.0096%	1h	0.008732	−0.037%	$310K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008748	+0.146%	$23K	$166K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008745	+0.111%	$8.1M	$14.6M	5x	as long as short
Aster PENGUUSDTlong	+0.0100%	4h	0.008735	long leg	$121K	$577K	20x
Pacifica PENGU	+0.0100%	1h	0.008732	−0.037%	$154K	$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	0.008746	+0.126%	$36.5M	$160.0M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008745	+0.111%	$23.3M	$38.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008748	+0.146%	$7.5M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	+0.054%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008742	+0.077%	$11.5M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008738	+0.031%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008747	+0.134%	$8.2M	$12.4M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008726	−0.106%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008741	+0.066%	$299K	$275K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008738	+0.029%	$868K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008720	−0.178%	$466K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008717	−0.209%	$80K	$243K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008741	+0.071%	$586K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008956	+2.527%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008744	+0.100%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008749	+0.157%	$91K	$348K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008735	−0.008%	$180K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008738	+0.031%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0189%	1h	0.008729	−0.075%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008742	+0.079%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008719	−0.186%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0582%	1h	0.008747	+0.134%	$119K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0650%	1h	0.008748	+0.148%	$354K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.653%	$95K	$94K	50x	as long as short