Funding arb · Price arb /

2Z

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0417%/8h= −45.7% APRpaid last 24h −0.121%

Price spread now: Aster against Kraken Futures+0.682%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures 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

The price spread pays, funding is against you. Aster is 0.682% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.682% now, against zero (this spread has no 7-day history yet)): +$68 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 5.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_2ZUSD	0.05153	0.0517	pay 0.0065% / 1h	38m 57s	$5K	$3K	10x
Short	Aster 2ZUSDT	0.05189	0.0100	get 0.0050% / 4h	2h 38m	$12K	$57K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now +0.682%Rate

Funding earned: −$87.65
Price spread: +0.682% → 0.000%: $68.18
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$37.47
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Kraken Futures: 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Kraken Futures 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	−0.0863%	1h	0.05180	+0.515%	$45K	$20K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−3.365%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05191	+0.729%	$16K	$6K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05184	+0.593%	$653K	$350K	3x	as long as short
Aster 2ZUSDTshort	+0.0100%	4h	0.05189	+0.682%	$12K	$57K	5x
Pacifica 2Z	+0.0100%	1h	0.05170	+0.321%	$74K	$15K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05186	+0.633%	$2.1M	$2.0M	50x	as long as short
Bybit 2ZUSDT	+0.0100%	4h	0.05189	+0.690%	$707K	$943K	50x	as long as short
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05188	+0.671%	$441K	$691K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05179	+0.496%	$90K	$60K	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	0.05190	+0.710%	$322K	$126K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05188	+0.671%	$178K	$51K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05185	+0.613%	$147K	$635K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05183	+0.574%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05200	+0.898%	$33K	$23K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05189	+0.690%	$1K	$1.1M	20x	as long as short
Kraken Futures PF_2ZUSDlong	+0.0517%	1h	0.05153	long leg	$5K	$3K	10x