Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.044%

Price spread now: Deribit against Aster+0.319%7-day average — · you sell dearer than you buy

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

Long on Aster Short on Deribit

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

The price spread pays, funding is against you. Deribit is 0.319% dearer against Aster than usual: you sell high and buy low (spread +0.319% now, against zero (this spread has no 7-day history yet)): +$32 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.009058	0.0100	pay 0.0050% / 4h	3h 56m	$142K	$737K	20x
Short	Deribit PENGU_USDC-PERPETUAL	0.009087	0	get 0.0000% / 1h	56m 06s	$1K	$29K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.319%Rate

Funding earned: −$21
Price spread: +0.319% → 0.000%: $31.88
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$4.12
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Aster: live order book, 42 min ago; Deribit: 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, 42 min ago	6.01 bp	13.0 bp −$13	128.7 bp −$1,287	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

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-PERPETUALshort	0.0000%	1h	0.009087	+0.319%	$1K	$29K	10x
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009079	+0.232%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.971%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0069%	1h	0.009108	+0.552%	$12K	$6K	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009089	+0.341%	$328K	$747K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009085	+0.302%	$645K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009078	+0.219%	$9.2M	$16.8M	5x	as long as short
Aster PENGUUSDTlong	+0.0100%	4h	0.009058	long leg	$142K	$737K	20x
Pacifica PENGU	+0.0100%	1h	0.009104	+0.507%	$138K	$270K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009051	−0.075%	$39.8M	$195.8M	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	0.009034	−0.266%	$24.3M	$46.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009033	−0.277%	$8.1M	$57.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009100	+0.462%	$18K	$25K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009068	+0.109%	$3.7M	$17.4M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.009083	+0.275%	$11.3M	$12.8M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.009082	+0.264%	$5.1M	$10.5M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009045	−0.145%	$8.7M	$15.0M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.009076	+0.197%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009069	+0.120%	$311K	$388K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009072	+0.156%	$934K	$1.2M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009085	+0.302%	$477K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009067	+0.098%	$80K	$252K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009089	+0.341%	$23K	$314K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009299	+2.659%	$3K	$2.2M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009083	+0.275%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009112	+0.595%	$94K	$414K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009084	+0.282%	$187K	$743K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009080	+0.242%	$210K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0241%	1h	0.009080	+0.244%	$307	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009117	+0.650%	$1.7M	$5.1M	75x	as long as short
Kraken Futures PF_PENGUUSD	+0.0380%	1h	0.009089	+0.345%	$352K	$2.6M	50x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0432% / S −0.0351%	1h	0.009078	+0.219%	$104K	—	100x	as long as short
01 Exchange PENGUUSD	+0.0464%	1h	0.009106	+0.529%	$208	$41	5x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2088%	1h	0.009233	+1.931%	$81K	$74K	50x	as long as short