Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0417%/8h= +45.7% APRpaid last 24h +0.060%

Price spread now: Aster against Deribit+0.096%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Aster

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

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Aster is 0.096% dearer against Deribit than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit PENGU_USDC-PERPETUAL	0.008810	−0.0317	get 0.0040% / 1h	51m 58s	$19K	$9K	10x
Short	Aster PENGUUSDT	0.008818	0.0100	get 0.0050% / 4h	51m 58s	$191K	$467K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Deribit. 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 DeribitbpFee AsterbpOrdersPrice spread, now +0.096%Rate

Funding earned: $87.57
Price spread: +0.096% → 0.000%: $9.65
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: $82.22
Costs to cover: 0.150%
Break-even: 0.4 days

Slippage unknown: Deribit: no order-book sample; Aster: live order book, 25 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell Aster live order book, 25 min ago	5.12 bp	11.6 bp −$12	57.5 bp −$575	doesn't fit	doesn't fit

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
Kraken Futures PF_PENGUUSD	−0.0339%	1h	0.008822	+0.135%	$367K	$2.2M	50x	as long as short
Deribit PENGU_USDC-PERPETUALlong	−0.0317%	1h	0.008810	long leg	$19K	$9K	10x
Gate PENGU_USDT	−0.0260%	4h	0.008818	+0.091%	$3.4M	$15.6M	75x	as long as short
Bybit PENGUUSDT	−0.0232%	4h	0.008814	+0.045%	$22.9M	$36.6M	75x	as long as short
Variational Omni PENGU	−0.0127%	4h	0.008807	−0.031%	$804K	$802K	—	as long as short
Injective PENGU/USDC PERP	−0.0114%	1h	0.008789	−0.238%	$3K	$117K	5.5x	as long as short
01 Exchange PENGUUSD	−0.0112%	1h	0.008812	+0.023%	$202	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008813	+0.039%	$34K	—	150x	as long as short
dYdX PENGU-USD	+0.0024%	1h	0.008832	+0.254%	$12K	$4K	5x	as long as short
Nado PENGU-PERP	+0.0081%	1h	0.008818	+0.091%	$688K	$761K	5x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter PENGU	+0.0096%	1h	0.008812	+0.023%	$309K	$738K	8x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008813	+0.034%	$23K	$186K	20x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008815	+0.057%	$8.5M	$15.2M	5x	as long as short
Aster PENGUUSDTshort	+0.0100%	4h	0.008818	+0.096%	$191K	$467K	20x
Pacifica PENGU	+0.0100%	1h	0.008820	+0.114%	$152K	$239K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008818	+0.091%	$36.6M	$153.8M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008823	+0.148%	$7.6M	$47.4M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008820	+0.114%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008822	+0.136%	$12.6M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008817	+0.079%	$4.8M	$8.9M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008830	+0.227%	$8.4M	$12.6M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008817	+0.079%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008811	+0.011%	$314K	$309K	10x	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008836	+0.295%	$462K	$2.2M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008819	+0.102%	$80K	$254K	50x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009029	+2.486%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008810	0.000%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008837	+0.306%	$92K	$249K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008823	+0.151%	$182K	$622K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008811	+0.011%	$204K	$17K	3x	as long as short
Reya PENGURUSDPERP	+0.0237%	1h	0.008809	−0.011%	$297	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008825	+0.170%	$1.5M	$2.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0511% / S −0.0711%	1h	0.008815	+0.057%	$115K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2688%	1h	0.008850	+0.454%	$94K	$104K	50x	as long as short