Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.028%

Price spread now: Aster against gTrade (Gains Network)−0.085%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 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. Aster is 0.085% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.085% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 3.1 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	gTrade (Gains Network) PENGU/USD	0.008972	L +0.0007% / S −0.0003%	pay 0.0001% / 1h	28m 48s	$33K	—	150x
Short	Aster PENGUUSDT	0.008965	0.0100	get 0.0050% / 4h	3h 28m	$138K	$640K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee AsterbpOrdersPrice spread, now −0.085%Rate

Funding earned: $19.52
Price spread: −0.085% → 0.000%: −$8.52
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$6.99
Costs to cover: 0.180%
Break-even: 9.5 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Aster: live order book, 24 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Aster live order book, 24 min ago	4.95 bp	10.4 bp −$10	66.3 bp −$663	doesn't fit	doesn't fit

gTrade (Gains Network): 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
Gate PENGU_USDT	−0.0054%	4h	0.008958	−0.158%	$3.4M	$16.4M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	0.0000%	1h	0.008963	−0.102%	$19K	$10K	10x	as long as short
gTrade (Gains Network) PENGU/USDlong	L +0.0007% / S −0.0003%	1h	0.008972	long leg	$33K	—	150x
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−2.042%	$3K	$117K	5.5x	as long as short
dYdX PENGU-USD	+0.0039%	1h	0.008969	−0.033%	$12K	$5K	5x	as long as short
01 Exchange PENGUUSD	+0.0080%	1h	0.008970	−0.024%	$205	$64	5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008963	−0.102%	$326K	$751K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008964	−0.091%	$601K	$1.0M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008967	−0.058%	$8.4M	$14.8M	5x	as long as short
Aster PENGUUSDTshort	+0.0100%	4h	0.008965	−0.085%	$138K	$640K	20x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PENGU	+0.0100%	1h	0.008968	−0.047%	$137K	$272K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008962	−0.114%	$38.4M	$171.8M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008955	−0.192%	$23.8M	$41.0M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008954	−0.203%	$7.8M	$50.2M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008970	−0.024%	$19K	$25K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008963	−0.102%	$11.0M	$12.6M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008958	−0.158%	$5.0M	$9.4M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008966	−0.069%	$8.7M	$12.9M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008950	−0.247%	—	$2.3M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008955	−0.192%	$299K	$327K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.009000	+0.309%	$939K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.009016	+0.491%	$470K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.009018	+0.511%	$82K	$251K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008967	−0.058%	$24K	$102K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009188	+2.405%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008964	−0.091%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008979	+0.076%	$93K	$379K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008956	−0.182%	$186K	$939K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008956	−0.180%	$207K	—	3x	as long as short
Reya PENGURUSDPERP	+0.0239%	1h	0.008970	−0.024%	$303	—	10x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008960	−0.136%	$1.5M	$4.2M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0504% / S −0.0415%	1h	0.008970	−0.024%	$128K	—	100x	as long as short
Kraken Futures PF_PENGUUSD	+0.0610%	1h	0.008966	−0.069%	$351K	$2.4M	50x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2704%	1h	0.009007	+0.388%	$95K	$62K	50x	as long as short