Funding arb · Price arb /

ASTER

all ASTER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0022%/8h= −2.4% APRpaid last 24h −0.019%

Price spread now: Orderly against Backpack+0.042%7-day average — · you sell dearer than you buy

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

Long on Backpack Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Orderly is 0.042% dearer against Backpack than usual: you sell high and buy low (spread +0.042% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ASTER_USDC_PERP	0.7334	0.0100	pay 0.0013% / 1h	57m 33s	$218K	$487K	10x
Short	Orderly PERP_ASTER_USDC	0.7337	0.0078	get 0.0039% / 4h	57m 33s	$14K	$845	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Backpack. 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 BackpackbpFee OrderlybpOrdersPrice spread, now +0.042%Rate

Funding earned: −$4.61
Price spread: +0.042% → 0.000%: $4.23
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$16.38
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 1 min ago; Orderly: 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 Backpack live order book, 1 min ago	0.07 bp	7.9 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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.

ASTER on 32 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
Coinbase International ASTER-PERP-INTX	−0.0072%	1h	0.7340	+0.087%	$277K	$886K	50x	as long as short
Deribit ASTER_USDC-PERPETUAL	−0.0036%	1h	0.7336	+0.027%	$11K	$71K	25x	as long as short
Aster ASTERUSDT	0.0000%	4h	0.7328	−0.074%	$54.5M	$102.8M	200x	as long as short
dYdX ASTER-USD	0.0000%	1h	0.7324	−0.137%	$14K	$1K	5x	as long as short
gTrade (Gains Network) ASTER/USD	L +0.0006% / S −0.0005%	1h	0.7339	+0.063%	$24K	—	150x	as long as short
Injective ASTER/USDC PERP	+0.0033%	1h	0.7390	+0.765%	$9	$133K	5.5x	as long as short
Orderly PERP_ASTER_USDCshort	+0.0078%	4h	0.7337	+0.042%	$14K	$845	10x
Lighter ASTER	+0.0096%	1h	0.7329	−0.068%	$893K	$909K	5x	as long as short
Nado ASTER-PERP	+0.0100%	1h	0.7326	−0.113%	$367K	$249K	5x	as long as short
Hyperliquid ASTER	+0.0100%	1h	0.7333	−0.014%	$25.4M	$6.5M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ASTER	+0.0100%	1h	0.7328	−0.080%	$254K	$73K	10x	as long as short
Binance ASTERUSDT	+0.0100%	4h	0.7328	−0.074%	$90.1M	$111.0M	75x	as long as short
Bybit ASTERUSDT	+0.0100%	4h	0.7328	−0.080%	$48.7M	$22.9M	75x	as long as short
OKX ASTER-USDT-SWAP	+0.0100%	4h	0.7332	−0.026%	$12.1M	$18.6M	50x	as long as short
Gate ASTER_USDT	+0.0100%	4h	0.7329	−0.067%	$6.4M	$5.3M	75x	as long as short
MEXC ASTER_USDT	+0.0100%	4h	0.7324	−0.135%	$33.9M	$18.0M	100x	as long as short
KuCoin ASTERUSDTM	+0.0100%	4h	0.7324	−0.134%	$10.8M	$3.2M	75x	as long as short
Bitget ASTERUSDT	+0.0100%	4h	0.7327	−0.094%	$17.8M	$6.7M	50x	as long as short
BingX ASTER-USDT	+0.0100%	4h	0.7325	−0.121%	—	$9.6M	—	as long as short
Backpack ASTER_USDC_PERPlong	+0.0100%	1h	0.7334	long leg	$218K	$487K	10x
Variational Omni ASTER	+0.0100%	4h	0.7321	−0.176%	$2.1M	$389K	—	as long as short
GRVT ASTER_USDT_Perp	+0.0100%	4h	0.7331	−0.039%	$449K	$3.8M	10x	as long as short
ApeX Omni ASTERUSDT	+0.0100%	1h	0.7322	−0.162%	$84K	$722K	50x	as long as short
SunX ASTER-USDT	+0.0100%	4h	0.7356	+0.301%	$2K	$1.7M	20x	as long as short
SoDEX ASTER-USD	+0.0100%	1h	0.7335	+0.015%	$13K	$8K	5x	as long as short
HTX ASTER-USDT	+0.0100%	4h	0.7350	+0.220%	$243K	$117K	20x	as long as short
Extended ASTER-USD	+0.0104%	1h	0.7323	−0.144%	$365K	$638K	25x	as long as short
01 Exchange ASTERUSD	+0.0104%	1h	0.7326	−0.108%	$8K	$4K	10x	as long as short
edgeX ASTERUSDC	+0.0105%	4h	0.7318	−0.212%	$212K	$2.0M	10x	as long as short
Kraken Futures PF_ASTERUSD	+0.0281%	1h	0.7337	+0.044%	$337K	$489K	20x	as long as short
GMX ASTER/USD [WBTC.b-USDC]	L +0.0304% / S −0.0215%	1h	0.7336	+0.031%	$28K	—	100x	as long as short
BloFin ASTER-USDT	+0.0340%	4h	0.7338	+0.056%	$3.5M	$1.9M	75x	as long as short