Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.012%

Price spread now: Hyperliquid against Aster+0.014%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$420.417% of the position

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.081%−$8 on $10k

Price spread, last 4 days (all we have)−0.015%−$2 · spread now +0.014%, 7d avg +0.004%

Together, before fees−0.096%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board−$10 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.008648	0.0100	pay 0.0050% / 4h	2h 38m	$171K	$448K	20x
Short	Hyperliquid PENGU	0.008649	0.0100	get 0.0013% / 1h	38m 19s	$8.7M	$15.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → +0.004%: $0.99
Slippage, 4 orders: −$24.7
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$40.71
Costs to cover: 0.417%
Break-even: never at this rate

Slippage from Aster: live order book, 49 min ago; Hyperliquid: live order book, 4 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	4.54 bp	11.8 bp −$12	117.5 bp −$1,175	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	0.58 bp	10.3 bp −$10	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
Kraken Futures PF_PENGUUSD	−0.0553%	1h	0.008644	−0.039%	$383K	$2.1M	50x	as long as short
Gate PENGU_USDT	−0.0392%	4h	0.008643	−0.055%	$3.4M	$15.3M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0328%	1h	0.008644	−0.043%	$19K	$9K	10x	as long as short
Bybit PENGUUSDT	−0.0258%	4h	0.008643	−0.055%	$22.4M	$35.9M	75x	as long as short
Backpack PENGU_USDC_PERP	−0.0166%	1h	0.008638	−0.113%	$308K	$315K	10x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.778%	$3K	$81K	5.5x	as long as short
dYdX PENGU-USD	0.0000%	1h	0.008642	−0.066%	$11K	$4K	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008652	+0.051%	$33K	—	150x	as long as short
01 Exchange PENGUUSD	+0.0016%	1h	0.008647	−0.009%	$198	$59	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008640	−0.090%	$293K	$719K	8x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PENGU-PERP	+0.0100%	1h	0.008643	−0.052%	$670K	$757K	5x	as long as short
Hyperliquid PENGUshort	+0.0100%	1h	0.008649	+0.014%	$8.7M	$15.1M	5x
Aster PENGUUSDTlong	+0.0100%	4h	0.008648	long leg	$171K	$448K	20x
Pacifica PENGU	+0.0100%	1h	0.008641	−0.078%	$142K	$232K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008648	+0.005%	$35.7M	$150.9M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008651	+0.037%	$7.6M	$46.3M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008650	+0.026%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008641	−0.078%	$12.7M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008642	−0.067%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008644	−0.043%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008637	−0.124%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008661	+0.148%	$794K	$713K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008663	+0.179%	$453K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008667	+0.222%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008653	+0.061%	$21K	$184K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008851	+2.350%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008639	−0.101%	$978	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008659	+0.130%	$90K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008649	+0.010%	$177K	$681K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008650	+0.026%	$200K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008641	−0.079%	$292	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008644	−0.043%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0489% / S −0.0675%	1h	0.008653	+0.061%	$108K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008903	+2.952%	$94K	$97K	50x	as long as short