Funding arb · Price arb /

PENGU

all PENGU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h +0.007%

Price spread now: Aster against 01 Exchange−0.065%54s7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 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 against this trade now: funding costs −$3 a day on $10k at the current rate, and Aster is 0.065% cheaper against 01 Exchange than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange PENGUUSD	0.008890	0.0192	pay 0.0024% / 1h	17m 46s	$203	$64	5x
Short	Aster PENGUUSDT	0.008884	0.0100	get 0.0050% / 4h	2h 17m	$122K	$671K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against 01 Exchange. 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 01 ExchangebpFee AsterbpOrdersPrice spread, now −0.065%Rate

Funding earned: −$19.32
Price spread: −0.065% → 0.000%: −$6.54
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$40.86
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; Aster: live order book, 30 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Aster live order book, 30 min ago	4.54 bp	10.4 bp −$10	52.4 bp −$524	doesn't fit	doesn't fit

01 Exchange: 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
gTrade (Gains Network) PENGU/USD	L +0.0007% / S −0.0003%	1h	0.008888	−0.027%	$33K	—	150x	as long as short
Injective PENGU/USDC PERP	+0.0033%	1h	0.008789	−1.136%	$3K	$117K	5.5x	as long as short
Lighter PENGU	+0.0096%	1h	0.008891	+0.011%	$322K	$750K	8x	as long as short
Nado PENGU-PERP	+0.0100%	1h	0.008890	+0.006%	$603K	$1.1M	5x	as long as short
Hyperliquid PENGU	+0.0100%	1h	0.008899	+0.101%	$8.2M	$15.1M	5x	as long as short
Aster PENGUUSDTshort	+0.0100%	4h	0.008884	−0.065%	$122K	$671K	20x
Pacifica PENGU	+0.0100%	1h	0.008879	−0.124%	$135K	$273K	5x	as long as short
Binance PENGUUSDT	+0.0100%	4h	0.008883	−0.077%	$37.5M	$177.9M	75x	as long as short
Bybit PENGUUSDT	+0.0100%	4h	0.008877	−0.146%	$23.5M	$42.1M	75x	as long as short
OKX PENGU-USDT-SWAP	+0.0100%	4h	0.008881	−0.101%	$7.6M	$51.6M	50x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PENGU-USD	+0.0100%	1h	0.008880	−0.112%	$18K	$26K	5x	as long as short
Gate PENGU_USDT	+0.0100%	4h	0.008885	−0.056%	$3.3M	$16.6M	75x	as long as short
MEXC PENGU_USDT	+0.0100%	4h	0.008884	−0.067%	$10.5M	$12.7M	125x	as long as short
KuCoin PENGUUSDTM	+0.0100%	4h	0.008881	−0.101%	$5.0M	$9.7M	75x	as long as short
Bitget PENGUUSDT	+0.0100%	4h	0.008881	−0.101%	$8.5M	$13.4M	75x	as long as short
BingX PENGU-USDT	+0.0100%	4h	0.008886	−0.045%	—	$3.8M	—	as long as short
Backpack PENGU_USDC_PERP	+0.0100%	1h	0.008884	−0.067%	$291K	$340K	10x	as long as short
Variational Omni PENGU	+0.0100%	4h	0.008816	−0.833%	$920K	$1.0M	—	as long as short
GRVT PENGU_USDT_Perp	+0.0100%	4h	0.008765	−1.403%	$458K	$2.1M	10x	as long as short
ApeX Omni PENGUUSDT	+0.0100%	1h	0.008756	−1.507%	$79K	$250K	50x	as long as short
Orderly PERP_PENGU_USDC	+0.0100%	4h	0.008896	+0.067%	$23K	$176K	20x	as long as short
SunX PENGU-USDT	+0.0100%	4h	0.009108	+2.452%	$2K	$2.1M	10x	as long as short
SoDEX PENGU-USD	+0.0100%	1h	0.008894	+0.045%	$1K	$5K	5x	as long as short
HTX PENGU-USDT	+0.0100%	4h	0.008892	+0.022%	$92K	$392K	25x	as long as short
Extended PENGU-USD	+0.0104%	1h	0.008884	−0.070%	$183K	$876K	10x	as long as short
Aevo PENGU-PERP	+0.0104%	1h	0.008885	−0.056%	$205K	—	3x	as long as short
dYdX PENGU-USD	+0.0191%	1h	0.008878	−0.130%	$12K	$6K	5x	as long as short
01 Exchange PENGUUSDlong	+0.0192%	1h	0.008890	long leg	$203	$64	5x
Reya PENGURUSDPERP	+0.0240%	1h	0.008890	+0.003%	$300	—	10x	as long as short
Deribit PENGU_USDC-PERPETUAL	+0.0312%	1h	0.008897	+0.079%	$15K	$14K	10x	as long as short
Kraken Futures PF_PENGUUSD	+0.0317%	1h	0.008901	+0.125%	$325K	$2.4M	50x	as long as short
BloFin PENGU-USDT	+0.0340%	4h	0.008886	−0.045%	$1.5M	$4.8M	75x	as long as short
GMX PENGU/USD [WBTC.b-USDC]	L +0.0504% / S −0.0466%	1h	0.008888	−0.022%	$123K	—	100x	as long as short
Coinbase International PENGU-PERP-INTX	+0.1752%	1h	0.008896	+0.067%	$78K	$77K	50x	as long as short