Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aevo against Aster−0.049%7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1161.156% of the position

Long on Aster Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−0.048%−$5 · spread now −0.049%, 7d avg −0.063%

Together, before fees−0.039%+ Points / potential airdropAster: Stage 5 · farm board−$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.008813	0.0100	pay 0.0050% / 4h	2h 55m	$119K	$667K	20x
Short	Aevo PENGU-PERP	0.008809	0.0104	get 0.0013% / 1h	55m 16s	$203K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo 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 AevobpOrdersPrice spread, now −0.049%Rate

Funding earned: $0.84
Price spread: −0.049% → −0.063%: $1.42
Slippage, 4 orders: −$91.61
Fee Aster: 4 bp × 2 orders: −$8
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$113.34
Costs to cover: 1.156%
Break-even: 951.5 days

Slippage from Aster: live order book, 57 min ago; Aevo: live order book, 59 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, 57 min ago	4.95 bp	10.9 bp −$11	61.5 bp −$615	doesn't fit	doesn't fit
Sell Aevo live order book, 59 min ago	22.12 bp	32.8 bp −$33	doesn't fit	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	0.008813	−0.004%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008798	−0.176%	$32K	—	150x	as long as short
Gate PENGU_USDT	+0.0026%	4h	0.008793	−0.231%	$3.3M	$16.4M	75x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−0.276%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0083%	1h	0.008798	−0.178%	$12K	$5K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008814	+0.007%	$320K	$749K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008793	−0.231%	$590K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008795	−0.208%	$8.1M	$15.4M	5x	as long as short
Aster PENGUUSDTlong	+0.0100%	4h	0.008813	long leg	$119K	$667K	20x
Pacifica PENGU	+0.0100%	1h	0.008795	−0.208%	$133K	$274K	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	0.008813	−0.007%	$37.1M	$175.3M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008797	−0.185%	$23.4M	$41.6M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008809	−0.049%	$7.6M	$50.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	−0.151%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008789	−0.276%	$10.5M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008791	−0.253%	$4.9M	$9.6M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008809	−0.049%	$8.5M	$13.2M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008793	−0.231%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008812	−0.015%	$292K	$337K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008812	−0.016%	$919K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008817	+0.043%	$467K	$2.1M	10x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008808	−0.061%	$23K	$136K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009023	+2.379%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008812	−0.015%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008803	−0.117%	$91K	$378K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008809	−0.054%	$182K	$869K	10x	as long as short
Aevo PENGU-PERPshort	+0.0104%	1h	0.008809	−0.049%	$203K	—	3x
01 Exchange PENGUUSD	+0.0208%	1h	0.008796	−0.197%	$201	$64	5x	as long as short
Reya PENGURUSDPERP	+0.0240%	1h	0.008788	−0.291%	$297	—	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0320%	1h	0.008820	+0.081%	$323K	$2.4M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008811	−0.027%	$1.5M	$4.1M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0498% / S −0.0415%	1h	0.008795	−0.208%	$125K	—	100x	as long as short
ApeX Omni PENGUUSDT	+0.0645%	1h	0.008811	−0.027%	$80K	$251K	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008848	+0.393%	$93K	$58K	50x	as long as short