Funding arb · Price arb /

ALGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0218%/8h= −23.9% APRpaid last 24h −0.046%

Price spread now: Aster against GMX+0.101%7-day average — · you sell dearer than you buy

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

Long on GMX 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

The price spread pays, funding is against you. Aster is 0.101% dearer against GMX than usual: you sell high and buy low (spread +0.101% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX ALGO/USD [WBTC.b-USDC]	0.1109	L +0.0318% / S −0.0264%	pay 0.0040% / 1h	12m 12s	$6K	—	100x
Short	Aster ALGOUSDT	0.1110	0.0100	get 0.0100% / 8h	3h 12m	$44K	$36K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GMX. 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 GMXbpFee AsterbpOrdersPrice spread, now +0.101%Rate

Funding earned: −$45.85
Price spread: +0.101% → 0.000%: $10.13
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$55.72
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: 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 GMX no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

GMX 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.

ALGO on 22 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
Deribit ALGO_USDC-PERPETUAL	−0.0201%	1h	0.1109	−0.006%	$88K	$45K	25x	as long as short
gTrade (Gains Network) ALGO/USD	L −0.0001% / S +0.0003%	1h	0.1110	+0.048%	$16K	—	150x	as long as short
Injective ALGO/USDC PERP	+0.0033%	1h	0.1120	+0.976%	$834	$233K	12x	as long as short
Hyperliquid ALGO	+0.0100%	1h	0.1111	+0.167%	$3.6M	$2.0M	5x	as long as short
Aster ALGOUSDTshort	+0.0100%	8h	0.1110	+0.101%	$44K	$36K	5x
Binance ALGOUSDT	+0.0100%	8h	0.1109	+0.012%	$9.7M	$34.5M	75x	as long as short
Bybit ALGOUSDT	+0.0100%	8h	0.1109	−0.042%	$11.1M	$12.5M	75x	as long as short
OKX ALGO-USDT-SWAP	+0.0100%	8h	0.1110	+0.066%	$2.7M	$7.8M	50x	as long as short
Gate ALGO_USDT	+0.0100%	8h	0.1110	+0.048%	$856K	$907K	50x	as long as short
MEXC ALGO_USDT	+0.0100%	8h	0.1109	−0.006%	$23.1M	$3.1M	200x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ALGOUSDTM	+0.0100%	8h	0.1110	+0.066%	$3.5M	$1.4M	50x	as long as short
Bitget ALGOUSDT	+0.0100%	8h	0.1109	−0.015%	$5.5M	$3.5M	75x	as long as short
BingX ALGO-USDT	+0.0100%	8h	0.1109	−0.006%	—	$3.3M	—	as long as short
Variational Omni ALGO	+0.0100%	8h	0.1111	+0.125%	$61K	$12K	—	as long as short
HTX ALGO-USDT	+0.0100%	8h	0.1109	+0.021%	$60K	$135K	75x	as long as short
Phemex ALGOUSDT	+0.0100%	8h	0.1112	+0.255%	$3.8M	$1.8M	50x	as long as short
Extended ALGO-USD	+0.0104%	1h	0.1109	−0.036%	$4K	$203K	10x	as long as short
Kraken Futures PF_ALGOUSD	+0.0131%	1h	0.1110	+0.061%	$838K	$1.1M	50x	as long as short
Coinbase International ALGO-PERP-INTX	+0.0168%	1h	0.1112	+0.228%	$64K	$304K	50x	as long as short
BloFin ALGO-USDT	+0.0220%	8h	0.1110	+0.084%	$480K	$870K	75x	as long as short
GMX ALGO/USD [WBTC.b-USDC]long	L +0.0318% / S −0.0264%	1h	0.1109	long leg	$6K	—	100x
dYdX ALGO-USD	+0.1160%	1h	0.1111	+0.156%	$160K	$4K	5x	as long as short