Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: MEXC against Aster+0.002%7-day average −0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$270.274% of the position

Long on Aster Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)+0.058%+$6 · spread now +0.002%, 7d avg −0.041%

Together, before fees+0.051%+ Points / potential airdropAster: Stage 5 · farm board+$5 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: MEXC is 0.043% dearer against Aster than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster PENGUUSDT	0.009028	0.0100	pay 0.0050% / 4h	3h 49m	$130K	$600K	20x
Short	MEXC PENGU_USDT	0.009028	0.0100	get 0.0050% / 4h	3h 49m	$11.1M	$12.4M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.002%Rate

Funding earned: $0
Price spread: +0.002% → −0.041%: $4.27
Slippage, 4 orders: −$19.45
Fee Aster: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: −$23.18
Costs to cover: 0.274%
Break-even: never at this rate

Slippage from Aster: live order book, 3 min ago; MEXC: live order book, 3 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, 3 min ago	4.95 bp	10.9 bp −$11	61.5 bp −$615	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.55 bp	2.3 bp −$2	15.8 bp −$158	53.9 bp −$5,392	138.6 bp −$69.3K

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-PERPETUAL	0.0000%	1h	0.009033	+0.057%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.009031	+0.030%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.646%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0036%	1h	0.009045	+0.193%	$12K	$5K	5x	as long as short
01 Exchange PENGUUSD	+0.0080%	1h	0.009036	+0.090%	$207	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.009026	−0.020%	$334K	$737K	8x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.009030	+0.024%	$8.5M	$14.8M	5x	as long as short
Aster PENGUUSDTlong	+0.0100%	4h	0.009028	long leg	$130K	$600K	20x
Pacifica PENGU	+0.0100%	1h	0.009044	+0.179%	$159K	$243K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.009020	−0.087%	$38.7M	$168.9M	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	0.009014	−0.153%	$24.0M	$40.4M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.009017	−0.120%	$7.8M	$49.7M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.009040	+0.135%	$19K	$24K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.009023	−0.054%	$3.4M	$16.0M	75x	as long as short
MEXC PENGU_USDTshort	+0.0100%	4h	0.009028	+0.002%	$11.1M	$12.4M	125x
KuCoin PENGUUSDTM	+0.0100%	4h	0.009029	+0.013%	$4.9M	$9.3M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.009030	+0.024%	$8.8M	$12.8M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.009017	−0.120%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.009028	+0.002%	$302K	$330K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009060	+0.355%	$945K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009065	+0.411%	$476K	$2.1M	10x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.009031	+0.040%	$607K	$1.0M	5x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.009032	+0.046%	$24K	$83K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009248	+2.439%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.009034	+0.068%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.009051	+0.256%	$94K	$378K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.009021	−0.081%	$187K	$944K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.009028	+0.002%	$209K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.009030	+0.021%	$305	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.009071	+0.478%	$1.5M	$4.1M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0515% / S −0.0477%	1h	0.009030	+0.024%	$127K	—	100x	as long as short
ApeX Omni PENGUUSDT	+0.0577%	1h	0.009083	+0.611%	$92K	$247K	50x	as long as short
Kraken Futures PF_PENGUUSD	+0.0605%	1h	0.009042	+0.158%	$352K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.008976	−0.574%	$96K	$61K	50x	as long as short