Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.054%

Price spread now: Aster against Deribit+0.050%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Aster is 0.050% dearer against Deribit than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit PENGU_USDC-PERPETUAL	0.008799	0	get 0.0000% / 1h	54m 17s	$18K	$10K	10x
Short	Aster PENGUUSDT	0.008803	0.0100	get 0.0050% / 4h	2h 54m	$119K	$667K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Deribit. 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 DeribitbpFee AsterbpOrdersPrice spread, now +0.050%Rate

Funding earned: $21
Price spread: +0.050% → 0.000%: $4.98
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: $10.98
Costs to cover: 0.150%
Break-even: 3.3 days

Slippage unknown: Deribit: no order-book sample; Aster: live order book, 58 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell Aster live order book, 58 min ago	4.95 bp	10.4 bp −$10	66.3 bp −$663	doesn't fit	doesn't fit

Deribit: 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-PERPETUALlong	0.0000%	1h	0.008799	long leg	$18K	$10K	10x
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008797	−0.026%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0026%	4h	0.008797	−0.023%	$3.3M	$16.4M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.114%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008804	+0.057%	$319K	$749K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008800	+0.017%	$590K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008806	+0.080%	$8.1M	$15.3M	5x	as long as short
Aster PENGUUSDTshort	+0.0100%	4h	0.008803	+0.050%	$119K	$667K	20x
Pacifica PENGU	+0.0100%	1h	0.008804	+0.057%	$133K	$274K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008800	+0.007%	$37.1M	$175.4M	75x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit PENGUUSDT	+0.0100%	4h	0.008792	−0.080%	$23.4M	$41.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008798	−0.011%	$7.6M	$50.0M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	+0.011%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008800	+0.011%	$10.5M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008802	+0.034%	$4.9M	$9.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008801	+0.023%	$8.5M	$13.2M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008798	−0.011%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008796	−0.034%	$291K	$337K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008812	+0.147%	$919K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008817	+0.206%	$467K	$2.1M	10x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008800	+0.011%	$23K	$137K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009006	+2.353%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008801	+0.023%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008821	+0.250%	$91K	$378K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008798	−0.013%	$182K	$869K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008795	−0.045%	$203K	—	3x	as long as short
dYdX PENGU-USD	+0.0110%	1h	0.008802	+0.040%	$12K	$5K	5x	as long as short
01 Exchange PENGUUSD	+0.0200%	1h	0.008797	−0.023%	$201	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008795	−0.043%	$297	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0321%	1h	0.008806	+0.082%	$322K	$2.4M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008811	+0.136%	$1.5M	$4.1M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0513% / S −0.0435%	1h	0.008793	−0.068%	$129K	—	100x	as long as short
ApeX Omni PENGUUSDT	+0.0645%	1h	0.008811	+0.136%	$80K	$251K	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008848	+0.557%	$93K	$58K	50x	as long as short