Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0137%/8h= −15.0% APRpaid last 24h −0.040%

Price spread now: Aster against Reya+0.044%7-day average — · you sell dearer than you buy

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

Long on Reya 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 airdropReya: Active · Aster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.044% dearer against Reya than usual: you sell high and buy low (spread +0.044% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya PENGURUSDPERP	0.008687	0.0237	pay 0.0030% / 1h	10m 14s	$293	—	10x
Short	Aster PENGUUSDT	0.008691	0.0100	get 0.0050% / 4h	2h 10m	$172K	$448K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Reya. 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 ReyabpFee AsterbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$28.78
Price spread: +0.044% → 0.000%: $4.38
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$38.4
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Aster: live order book, 12 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 Reya no order-book sample	—	—	—	—	—
Sell Aster live order book, 12 min ago	5.16 bp	12.9 bp −$13	40.0 bp −$400	doesn't fit	doesn't fit

Reya: 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	−0.0550%	1h	0.008692	+0.054%	$385K	$2.1M	50x	as long as short
Gate PENGU_USDT	−0.0260%	4h	0.008690	+0.031%	$3.4M	$15.4M	75x	as long as short
Deribit PENGU_USDC-PERPETUAL	−0.0210%	1h	0.008695	+0.089%	$19K	$9K	10x	as long as short
Injective PENGU/USDC PERP	−0.0110%	1h	0.008715	+0.319%	$3K	$81K	5.5x	as long as short
Backpack PENGU_USDC_PERP	−0.0040%	1h	0.008687	−0.003%	$310K	$314K	10x	as long as short
01 Exchange PENGUUSD	0.0000%	1h	0.008692	+0.054%	$199	$59	5x	as long as short
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008697	+0.112%	$33K	—	150x	as long as short
dYdX PENGU-USD	+0.0007%	1h	0.008688	+0.013%	$11K	$4K	5x	as long as short
Bybit PENGUUSDT	+0.0048%	4h	0.008689	+0.020%	$22.6M	$36.0M	75x	as long as short
Lighter PENGU	+0.0096%	1h	0.008691	+0.043%	$298K	$723K	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	0.008685	−0.026%	$674K	$757K	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008693	+0.066%	$8.7M	$15.2M	5x	as long as short
Aster PENGUUSDTshort	+0.0100%	4h	0.008691	+0.044%	$172K	$448K	20x
Pacifica PENGU	+0.0100%	1h	0.008684	−0.038%	$146K	$236K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008693	+0.068%	$35.9M	$151.3M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008684	−0.038%	$7.7M	$46.5M	50x	as long as short
Arcus PENGU-USD	+0.0100%	1h	0.008690	+0.031%	$19K	$24K	5x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008692	+0.054%	$12.9M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008694	+0.077%	$4.7M	$8.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008691	+0.043%	$8.2M	$12.5M	75x	as long as short
BingX PENGU-USDC	+0.0100%	4h	0.008671	−0.187%	—	$2.3M	—	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008647	−0.466%	$799K	$726K	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008656	−0.357%	$453K	$2.4M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008681	−0.072%	$79K	$253K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008694	+0.077%	$23K	$186K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.008901	+2.460%	$3K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008689	+0.020%	$988	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008698	+0.123%	$91K	$250K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008690	+0.026%	$178K	$682K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008688	+0.008%	$201K	$17K	3x	as long as short
Reya PENGURUSDPERPlong	+0.0237%	1h	0.008687	long leg	$293	—	10x
BloFin PENGU-USDT	+0.0340%	4h	0.008670	−0.199%	$1.5M	$2.6M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0502% / S −0.0703%	1h	0.008692	+0.054%	$112K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.2992%	1h	0.008699	+0.135%	$93K	$97K	50x	as long as short