Funding arb · Price arb /

2Z

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.001%

Price spread now: Aster against Injective+5.157%107s7-day average — · you sell dearer than you buy

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

Long on Injective 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 for this trade now. Funding pays +$2 a day on $10k at the current rate, and Aster is 5.157% dearer against Injective than usual: you sell high and buy low: +$516 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 107 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	Injective 2Z/USDC PERP	0.04980	0.0033	pay 0.0004% / 1h	33m 32s	$867	$213	5.5x
Short	Aster 2ZUSDT	0.05237	0.0100	get 0.0050% / 4h	3h 33m	$12K	$57K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now +5.157%Rate

Funding earned: $14
Price spread: +5.157% → 0.000%: $515.68
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: $521.66
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Aster: no order-book sample. 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 Injective no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Injective and Aster: 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.

2Z on 17 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
Backpack 2Z_USDC_PERP	−0.0657%	1h	0.05229	+5.000%	$45K	$22K	5x	as long as short
Injective 2Z/USDC PERPlong	+0.0033%	1h	0.04980	long leg	$867	$213	5.5x
Lighter 2Z	+0.0096%	1h	0.05244	+5.301%	$17K	$6K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05236	+5.141%	$676K	$353K	3x	as long as short
Aster 2ZUSDTshort	+0.0100%	4h	0.05237	+5.157%	$12K	$57K	5x
Pacifica 2Z	+0.0100%	1h	0.05234	+5.096%	$75K	$15K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05230	+5.026%	$2.1M	$2.2M	50x	as long as short
Bybit 2ZUSDT	+0.0100%	4h	0.05238	+5.181%	$721K	$963K	50x	as long as short
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05233	+5.080%	$449K	$713K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05241	+5.241%	$91K	$61K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC 2Z_USDT	+0.0100%	4h	0.05239	+5.201%	$328K	$131K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05232	+5.064%	$179K	$55K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05240	+5.221%	$162K	$625K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05236	+5.141%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05239	+5.192%	$33K	$23K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05237	+5.161%	$1K	$1.2M	20x	as long as short
Kraken Futures PF_2ZUSD	+0.0567%	1h	0.05242	+5.256%	$5K	$3K	10x	as long as short