Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Arcus against Aster−0.416%46s7-day average — · you buy dearer than you sell

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

Long on Aster Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Arcus is 0.416% cheaper against Aster than usual: you would sell low and buy high, −$42 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.008967	0.0100	pay 0.0050% / 4h	3h 57m	$129K	$595K	20x
Short	Arcus PENGU-USD	0.008930	0.0100	get 0.0013% / 1h	57m 58s	$19K	$24K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now −0.416%Rate

Funding earned: $0
Price spread: −0.416% → 0.000%: −$41.6
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$54.1
Costs to cover: 0.125%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 60 min ago; Arcus: no order-book sample. 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 Aster live order book, 60 min ago	8.58 bp	16.2 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Arcus no order-book sample	—	—	—	—	—

Arcus: 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
dYdX PENGU-USD	0.0000%	1h	0.008925	−0.467%	$12K	$5K	5x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008960	−0.081%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008942	−0.285%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.988%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	+0.0056%	1h	0.008932	−0.394%	$204	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008970	+0.030%	$319K	$717K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008931	−0.405%	$600K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008972	+0.052%	$8.4M	$14.7M	5x	as long as short
Aster PENGUUSDTlong	+0.0100%	4h	0.008967	long leg	$129K	$595K	20x
Pacifica PENGU	+0.0100%	1h	0.008931	−0.405%	$157K	$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	0.008964	−0.037%	$38.3M	$166.7M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008957	−0.115%	$23.7M	$39.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008959	−0.093%	$7.6M	$48.7M	50x	as long as short
Arcus PENGU-USDshort	+0.0100%	1h	0.008930	−0.416%	$19K	$24K	5x
Gate PENGU_USDT	+0.0100%	4h	0.008960	−0.081%	$3.4M	$15.9M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008963	−0.048%	$10.9M	$12.3M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008965	−0.026%	$4.9M	$9.2M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008970	+0.030%	$8.7M	$12.7M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008954	−0.148%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008966	−0.014%	$296K	$326K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008928	−0.439%	$931K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008928	−0.442%	$476K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008929	−0.427%	$81K	$242K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008962	−0.059%	$24K	$87K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009179	+2.361%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008966	−0.014%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008975	+0.086%	$93K	$377K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008958	−0.109%	$185K	$943K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008952	−0.171%	$207K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008928	−0.442%	$301	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008907	−0.672%	$1.5M	$3.9M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0512% / S −0.0572%	1h	0.008939	−0.316%	$120K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0610%	1h	0.008975	+0.086%	$351K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.008962	−0.059%	$95K	$60K	50x	as long as short