Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Aster−0.115%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$440.442% of the position

Long on Aster Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 4 days (all we have)+0.037%+$4 · spread now −0.115%, 7d avg −0.082%

Together, before fees+0.022%+ Points / potential airdropAster: Stage 5 · Extended: Active · farm board+$2 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: Extended is 0.033% cheaper against Aster than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.082%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.008790	0.0100	pay 0.0050% / 4h	1h 32m	$189K	$466K	20x
Short	Extended PENGU-USD	0.008780	0.0104	get 0.0013% / 1h	32m 53s	$181K	$682K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.115%Rate

Funding earned: $0.84
Price spread: −0.115% → −0.082%: −$3.26
Slippage, 4 orders: −$31.19
Fee Aster: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$46.61
Costs to cover: 0.442%
Break-even: 395.4 days

Slippage from Aster: live order book, 49 min ago; Extended: live order book, 50 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, 49 min ago	5.16 bp	11.5 bp −$11	102.7 bp −$1,027	doesn't fit	doesn't fit
Sell Extended live order book, 50 min ago	0.57 bp	9.9 bp −$10	66.0 bp −$660	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
Kraken Futures PF_PENGUUSD	−0.0606%	1h	0.008793	+0.028%	$370K	$2.2M	50x	as long as short
Gate PENGU_USDT	−0.0330%	4h	0.008779	−0.126%	$3.4M	$15.5M	75x	as long as short
Bybit PENGUUSDT	−0.0136%	4h	0.008779	−0.126%	$22.8M	$36.3M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0091%	1h	0.008791	+0.011%	$19K	$9K	10x	as long as short
01 Exchange PENGUUSD	−0.0080%	1h	0.008801	+0.124%	$201	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008794	+0.049%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008715	−0.854%	$3K	$81K	5.5x	as long as short
Variational Omni PENGU	+0.0054%	4h	0.008794	+0.050%	$836K	$768K	—	as long as short
Lighter PENGU	+0.0096%	1h	0.008787	−0.035%	$308K	$735K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008792	+0.016%	$680K	$757K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid PENGU	+0.0100%	1h	0.008791	+0.011%	$8.7M	$15.0M	5x	as long as short
Aster PENGUUSDTlong	+0.0100%	4h	0.008790	long leg	$189K	$466K	20x
Pacifica PENGU	+0.0100%	1h	0.008802	+0.136%	$151K	$238K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008785	−0.058%	$36.6M	$152.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008784	−0.069%	$7.7M	$47.1M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008800	+0.113%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008786	−0.046%	$12.7M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008787	−0.035%	$4.7M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008788	−0.024%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008781	−0.103%	—	$3.9M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008786	−0.046%	$313K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008791	+0.016%	$460K	$2.3M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008799	+0.102%	$80K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008791	+0.011%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009001	+2.400%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008784	−0.069%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008816	+0.295%	$92K	$249K	25x	as long as short
Extended PENGU-USDshort	+0.0104%	1h	0.008780	−0.115%	$181K	$682K	10x
Aevo PENGU-PERP	+0.0104%	1h	0.008785	−0.058%	$203K	$17K	3x	as long as short
dYdX PENGU-USD	+0.0126%	1h	0.008805	+0.168%	$12K	$4K	5x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008786	−0.046%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008783	−0.080%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0510% / S −0.0711%	1h	0.008794	+0.045%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2504%	1h	0.008945	+1.763%	$95K	$105K	50x	as long as short