Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0036%/8h= −4.0% APRpaid last 24h +0.029%

Price spread now: Kraken Futures against Aster+0.048%54s7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$780.778% of the position

Long on Aster Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.113%+$11 on $10k

Price spread, last 4 days (all we have)−0.045%−$5 · spread now +0.048%, 7d avg +0.045%

Together, before fees+0.068%+ Points / potential airdropAster: Stage 5 · farm board+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.045%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.113%, so the current rate has only just turned against you. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.009083	0.0100	pay 0.0050% / 4h	1h 55m	$135K	$774K	20x
Short	Kraken Futures PF_PENGUUSD	0.009087	0.0064	get 0.0008% / 1h	55m 22s	$333K	$2.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.048%Rate

Funding earned: −$7.65
Price spread: +0.048% → +0.045%: $0.24
Slippage, 4 orders: −$59.85
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$85.26
Costs to cover: 0.778%
Break-even: never at this rate

Slippage from Aster: live order book, 55 min ago; Kraken Futures: live order book, 1 min ago.

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, 55 min ago	1.10 bp	8.0 bp −$8	125.0 bp −$1,250	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	7.70 bp	17.7 bp −$18	29.6 bp −$296	doesn't fit	doesn't fit

PENGU on 34 exchanges

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
dYdX PENGU-USD	0.0000%	1h	0.009075	−0.081%	$20K	$21K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009099	+0.183%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.235%	$3K	$117K	5.5x	as long as short
Kraken Futures PF_PENGUUSDshort	+0.0064%	1h	0.009087	+0.048%	$333K	$2.6M	50x
Deribit PENGU_USDC-PERPETUAL	+0.0080%	1h	0.009082	−0.009%	$1K	$27K	10x	as long as short
Lighter PENGU	+0.0096%	1h	0.009091	+0.090%	$325K	$699K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009079	−0.042%	$652K	$1.1M	5x	as long as short
Aster PENGUUSDTlong	+0.0100%	4h	0.009083	long leg	$135K	$774K	20x
Pacifica PENGU	+0.0100%	1h	0.009088	+0.057%	$137K	$225K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009079	−0.039%	$40.0M	$192.3M	75x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDT	+0.0100%	4h	0.009069	−0.152%	$24.6M	$46.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009075	−0.086%	$8.4M	$56.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009080	−0.031%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009077	−0.064%	$3.7M	$17.9M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009078	−0.053%	$12.3M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009078	−0.053%	$5.1M	$10.5M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009080	−0.031%	$8.7M	$14.3M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009075	−0.086%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009076	−0.075%	$304K	$365K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009073	−0.106%	$917K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009099	+0.178%	$480K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009101	+0.200%	$82K	$248K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009080	−0.031%	$23K	$357K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009298	+2.369%	$3K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009084	+0.013%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009114	+0.343%	$93K	$368K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009075	−0.086%	$186K	$740K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009079	−0.042%	$210K	—	3x	as long as short
Hyperliquid PENGU	+0.0151%	1h	0.009088	+0.057%	$9.8M	$17.0M	5x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009072	−0.119%	$306	—	10x	as long as short
01 Exchange PENGUUSD	+0.0304%	1h	0.009081	−0.020%	$208	$141	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009105	+0.244%	$1.6M	$5.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0433% / S −0.0357%	1h	0.009079	−0.042%	$105K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2136%	1h	0.009222	+1.532%	$84K	$95K	50x	as long as short