Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0004%/8hpaid last 24h −0.001%

Price spread now: Lighter against Aster+0.006%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$450.454% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 3 days (all we have)+0.011%+$1 · spread now +0.006%, 7d avg +0.011%

Together, before fees+0.004%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board$0 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.008869	0.0100	pay 0.0050% / 4h	6m 47s	$175K	$408K	20x
Short	Lighter PENGU	0.008870	0.0096	get 0.0012% / 1h	6m 47s	$325K	$623K	8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$0.84
Price spread: +0.006% → +0.011%: −$0.46
Slippage, 4 orders: −$37.42
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$46.72
Costs to cover: 0.454%
Break-even: never at this rate

Slippage from Aster: live order book, 25 min ago; Lighter: live order book, 22 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, 25 min ago	4.48 bp	11.0 bp −$11	103.3 bp −$1,033	doesn't fit	doesn't fit
Sell Lighter live order book, 22 min ago	5.05 bp	8.5 bp −$9	82.1 bp −$821	doesn't fit	doesn't fit

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	−0.028%	$20K	$7K	10x	as long as short
Gate PENGU_USDT	−0.0086%	4h	0.008860	−0.107%	$3.6M	$14.4M	75x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008873	+0.040%	$12K	$5K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008871	+0.017%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008884	+0.164%	$3K	$75K	5.5x	as long as short
Kraken Futures PF_PENGUUSD	+0.0039%	1h	0.008869	−0.003%	$408K	$2.0M	50x	as long as short
Lighter PENGUshort	+0.0096%	1h	0.008870	+0.006%	$325K	$623K	8x
Nado PENGU-PERP	+0.0100%	1h	0.008862	−0.078%	$679K	$736K	5x	as long as short
Aster PENGUUSDTlong	+0.0100%	4h	0.008869	long leg	$175K	$408K	20x
Pacifica PENGU	+0.0100%	1h	0.008870	+0.006%	$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	0.008861	−0.095%	$37.7M	$143.0M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008856	−0.152%	$23.5M	$32.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008855	−0.163%	$8.1M	$45.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008870	+0.006%	$20K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008862	−0.084%	$12.9M	$11.9M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008864	−0.061%	$4.8M	$8.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008861	−0.095%	$8.1M	$11.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008864	−0.061%	—	$3.9M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008862	−0.084%	$315K	$314K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008868	−0.011%	$836K	$597K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008881	+0.125%	$475K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008867	−0.028%	$84K	$254K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008869	−0.005%	$21K	$187K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009078	+2.351%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008863	−0.073%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008883	+0.153%	$98K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008859	−0.120%	$182K	$680K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008865	−0.050%	$205K	$17K	3x	as long as short
Hyperliquid PENGU	+0.0172%	1h	0.008875	+0.063%	$10.7M	$13.3M	5x	as long as short
Reya PENGURUSDPERP	+0.0236%	1h	0.008867	−0.027%	$299	—	10x	as long as short
01 Exchange PENGUUSD	+0.0248%	1h	0.008877	+0.085%	$203	$59	5x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008872	+0.029%	$1.6M	$2.5M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0507% / S −0.0698%	1h	0.008870	+0.006%	$114K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2976%	1h	0.009092	+2.509%	$96K	$108K	50x	as long as short