Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h +0.336%

Price spread now: dYdX against Aster−0.247%7-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 dYdX

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

Funding pays, the price is against you. dYdX is 0.247% cheaper against Aster than usual: you would sell low and buy high (spread −0.247% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$25 on $10k: about 8.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.008752	0.0100	pay 0.0050% / 4h	1h 32m	$121K	$577K	20x
Short	dYdX PENGU-USD	0.008730	0.0199	get 0.0025% / 1h	32m 56s	$12K	$4K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.247%Rate

Funding earned: $20.88
Price spread: −0.247% → 0.000%: −$24.72
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$21.84
Costs to cover: 0.180%
Break-even: 14.3 days

Slippage unknown: Aster: live order book, 30 min ago; dYdX: 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, 30 min ago	3.97 bp	10.2 bp −$10	68.7 bp −$687	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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
01 Exchange PENGUUSD	−0.0048%	1h	0.008744	−0.090%	$200	$64	5x	as long as short
Gate PENGU_USDT	−0.0024%	4h	0.008750	−0.022%	$3.3M	$15.6M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008749	−0.033%	$18K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008749	−0.032%	$32K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	+0.424%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008756	+0.047%	$311K	$709K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0099%	4h	0.008750	−0.022%	$23K	$166K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008753	+0.013%	$8.2M	$14.6M	5x	as long as short
Aster PENGUUSDTlong	+0.0100%	4h	0.008752	long leg	$121K	$577K	20x
Pacifica PENGU	+0.0100%	1h	0.008740	−0.136%	$154K	$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	0.008752	−0.002%	$36.6M	$160.1M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008746	−0.067%	$23.3M	$38.7M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008747	−0.056%	$7.5M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008740	−0.136%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008752	+0.001%	$11.5M	$12.4M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008751	−0.010%	$4.8M	$9.1M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008753	+0.013%	$8.3M	$12.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008749	−0.033%	—	$3.6M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008752	+0.001%	$300K	$275K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008738	−0.161%	$868K	$985K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008744	−0.092%	$467K	$2.0M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008743	−0.102%	$80K	$243K	50x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008740	−0.136%	$586K	$1.0M	5x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008958	+2.355%	$2K	$2.0M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008750	−0.022%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008750	−0.022%	$91K	$349K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008747	−0.062%	$180K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008745	−0.079%	$202K	—	3x	as long as short
dYdX PENGU-USDshort	+0.0199%	1h	0.008730	−0.247%	$12K	$4K	5x
Reya PENGURUSDPERP	+0.0239%	1h	0.008748	−0.043%	$295	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008744	−0.090%	$1.5M	$3.3M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0582%	1h	0.008750	−0.022%	$119K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0649%	1h	0.008761	+0.099%	$355K	$2.3M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2296%	1h	0.008967	+2.458%	$95K	$94K	50x	as long as short