Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Aster against Extended+0.214%7-day average +0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$450.446% of the position

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.127%−$13 · spread now +0.214%, 7d avg +0.080%

Together, before fees−0.122%+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm board−$12 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: Aster is 0.134% dearer against Extended than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended PENGU-USD	0.009095	0.0104	pay 0.0013% / 1h	53m 22s	$187K	$743K	10x
Short	Aster PENGUUSDT	0.009114	0.0100	get 0.0050% / 4h	3h 53m	$143K	$739K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Extended. 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 ExtendedbpFee AsterbpOrdersPrice spread, now +0.214%Rate

Funding earned: −$0.84
Price spread: +0.214% → +0.080%: $13.44
Slippage, 4 orders: −$31.64
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$32.04
Costs to cover: 0.446%
Break-even: never at this rate

Slippage from Extended: live order book, 44 min ago; Aster: live order book, 44 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 Extended live order book, 44 min ago	0.55 bp	9.2 bp −$9	81.6 bp −$816	doesn't fit	doesn't fit
Sell Aster live order book, 44 min ago	6.01 bp	13.2 bp −$13	49.6 bp −$496	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	0.009088	−0.077%	$1K	$29K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009089	−0.066%	$34K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−3.364%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0075%	1h	0.009095	−0.003%	$12K	$6K	5x	as long as short
Aster PENGUUSDTshort	+0.0100%	4h	0.009114	+0.214%	$143K	$739K	20x
Pacifica PENGU	+0.0100%	1h	0.009096	+0.011%	$137K	$270K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009118	+0.250%	$40.1M	$196.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009114	+0.209%	$24.6M	$46.5M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009121	+0.286%	$8.2M	$57.9M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009110	+0.165%	$18K	$25K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PENGU_USDT	+0.0100%	4h	0.009090	−0.055%	$3.7M	$17.5M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009125	+0.330%	$11.4M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009121	+0.286%	$5.1M	$10.5M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009130	+0.385%	$8.8M	$15.0M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009098	+0.033%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009093	−0.022%	$312K	$388K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009070	−0.275%	$936K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009087	−0.090%	$479K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009068	−0.297%	$80K	$252K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009106	+0.121%	$647K	$1.1M	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009088	−0.077%	$23K	$314K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009303	+2.287%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009090	−0.055%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009119	+0.264%	$94K	$414K	25x	as long as short
Extended PENGU-USDlong	+0.0104%	1h	0.009095	long leg	$187K	$743K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.009082	−0.143%	$210K	—	3x	as long as short
Hyperliquid PENGU	+0.0135%	1h	0.009132	+0.407%	$9.3M	$16.8M	5x	as long as short
Lighter PENGU	+0.0208%	1h	0.009104	+0.099%	$328K	$747K	8x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009123	+0.305%	$308	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009065	−0.330%	$1.6M	$5.1M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0380%	1h	0.009093	−0.024%	$351K	$2.6M	50x	as long as short
01 Exchange PENGUUSD	+0.0432%	1h	0.009123	+0.308%	$209	$41	5x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0432% / S −0.0351%	1h	0.009091	−0.044%	$104K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2088%	1h	0.009211	+1.275%	$81K	$74K	50x	as long as short