Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Aster against Orderly+0.100%7-day average +0.047% · you sell dearer than you buy

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

Long on Orderly Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now +0.100%, 7d avg +0.047%

Together, before fees−0.012%+ Points / potential airdropAster: Stage 5 · farm board−$1 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 0.053% dearer against Orderly than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_PENGU_USDC	0.008997	0.0100	pay 0.0050% / 4h	3h 53m	$24K	$85K	20x
Short	Aster PENGUUSDT	0.009006	0.0100	get 0.0050% / 4h	3h 53m	$129K	$600K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Orderly. 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 OrderlybpFee AsterbpOrdersPrice spread, now +0.100%Rate

Funding earned: $0
Price spread: +0.100% → +0.047%: $5.33
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$8.67
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Aster: live order book, 64 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 Orderly no order-book sample	—	—	—	—	—
Sell Aster live order book, 64 min ago	8.58 bp	14.3 bp −$14	71.3 bp −$713	doesn't fit	doesn't fit

Orderly: 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-PERPETUAL	0.0000%	1h	0.008998	+0.011%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009002	+0.058%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.312%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0064%	1h	0.009035	+0.425%	$12K	$5K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009006	+0.100%	$325K	$725K	8x	as long as short
01 Exchange PENGUUSD	+0.0096%	1h	0.009011	+0.156%	$206	$64	5x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008998	+0.017%	$605K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009003	+0.067%	$8.4M	$14.7M	5x	as long as short
Aster PENGUUSDTshort	+0.0100%	4h	0.009006	+0.100%	$129K	$600K	20x
Pacifica PENGU	+0.0100%	1h	0.009033	+0.400%	$159K	$243K	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	0.009019	+0.245%	$38.7M	$168.0M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.009014	+0.189%	$23.9M	$40.2M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009009	+0.133%	$7.7M	$49.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009010	+0.144%	$19K	$24K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008998	+0.011%	$3.4M	$15.9M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009011	+0.156%	$11.0M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009011	+0.156%	$4.9M	$9.3M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009016	+0.211%	$8.8M	$12.8M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008995	−0.022%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008992	−0.056%	$301K	$330K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008998	+0.010%	$934K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008963	−0.372%	$478K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008966	−0.345%	$81K	$242K	50x	as long as short
Orderly PERP_PENGU_USDClong	+0.0100%	4h	0.008997	long leg	$24K	$85K	20x
SunX PENGU-USDT	+0.0100%	4h	0.009218	+2.456%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008997	0.000%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009016	+0.211%	$93K	$377K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009008	+0.128%	$186K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008994	−0.033%	$208K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008999	+0.019%	$304	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009023	+0.289%	$1.5M	$4.0M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0514% / S −0.0477%	1h	0.009001	+0.044%	$127K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0607%	1h	0.009009	+0.134%	$351K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.009069	+0.800%	$96K	$61K	50x	as long as short