Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Nado against Aster+0.005%7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$450.455% of the position

Long on Aster Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.071%−$7 on $10k

Price spread, last 4 days (all we have)+0.210%+$21 · spread now +0.005%, 7d avg −0.038%

Together, before fees+0.139%+ Points / potential airdropAster: Stage 5 · Nado: Active · farm board+$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.042% dearer against Aster than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.008815	0.0100	pay 0.0050% / 4h	2h 35m	$121K	$667K	20x
Short	Nado PENGU-PERP	0.008815	0.0100	get 0.0013% / 1h	35m 21s	$591K	$1.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.005%Rate

Funding earned: $0
Price spread: +0.005% → −0.038%: $4.24
Slippage, 4 orders: −$30.48
Fee Aster: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$41.24
Costs to cover: 0.455%
Break-even: never at this rate

Slippage from Aster: live order book, 12 min ago; Nado: live order book, 3 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, 12 min ago	4.54 bp	11.5 bp −$12	63.5 bp −$635	doesn't fit	doesn't fit
Sell Nado live order book, 3 min ago	2.28 bp	10.0 bp −$10	34.7 bp −$347	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	0.0000%	1h	0.008770	−0.506%	$17K	$12K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008811	−0.041%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.290%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008804	−0.120%	$319K	$750K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008822	+0.084%	$8.1M	$15.3M	5x	as long as short
Aster PENGUUSDTlong	+0.0100%	4h	0.008815	long leg	$121K	$667K	20x
Pacifica PENGU	+0.0100%	1h	0.008809	−0.063%	$134K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008816	+0.015%	$37.2M	$176.4M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008812	−0.029%	$23.4M	$41.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008814	−0.006%	$7.6M	$50.7M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.008810	−0.052%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008809	−0.063%	$3.3M	$16.4M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008817	+0.028%	$10.4M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008814	−0.006%	$4.9M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008818	+0.039%	$8.4M	$13.3M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008805	−0.109%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008775	−0.449%	$289K	$339K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008760	−0.617%	$915K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008779	−0.402%	$459K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008777	−0.426%	$79K	$250K	50x	as long as short
Nado PENGU-PERPshort	+0.0100%	1h	0.008815	+0.005%	$591K	$1.1M	5x
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008771	−0.494%	$23K	$158K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008976	+1.831%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008763	−0.585%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008793	−0.245%	$91K	$387K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008809	−0.066%	$182K	$872K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008760	−0.619%	$202K	—	3x	as long as short
dYdX PENGU-USD	+0.0175%	1h	0.008811	−0.039%	$12K	$6K	5x	as long as short
01 Exchange PENGUUSD	+0.0176%	1h	0.008811	−0.041%	$202	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008816	+0.020%	$298	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0322%	1h	0.008771	−0.496%	$321K	$2.4M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008771	−0.494%	$1.5M	$4.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0499% / S −0.0422%	1h	0.008812	−0.029%	$125K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008788	−0.301%	$77K	$76K	50x	as long as short