Funding arb · Price arb /

ASTER

all ASTER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.009%

Price spread now: Backpack against Bybit+0.165%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$410.407% of the position

Long on Bybit Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.074%+$7 on $10k

Price spread, last 4 days (all we have)−0.307%−$31 · spread now +0.165%, 7d avg +0.043%

Together, before fees−0.234%−$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.122% dearer against Bybit than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ASTERUSDT	0.7375	0.0100	pay 0.0050% / 4h	2h 51m	$49.4M	$22.7M	75x
Short	Backpack ASTER_USDC_PERP	0.7387	0.0100	get 0.0013% / 1h	51m 32s	$221K	$474K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bybit. 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 BybitbpFee BackpackbpOrdersPrice spread, now +0.165%Rate

Funding earned: $0
Price spread: +0.165% → +0.043%: $12.24
Slippage, 4 orders: −$19.68
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$28.44
Costs to cover: 0.407%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Backpack: live order book, 17 min ago.

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 Bybit live order book, 2 min ago	0.68 bp	13.1 bp −$13	41.6 bp −$416	doesn't fit	doesn't fit
Sell Backpack live order book, 17 min ago	0.07 bp	6.6 bp −$7	doesn't fit	doesn't fit	doesn't fit

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	−0.0080%	1h	0.7371	−0.056%	$270K	$856K	50x	as long as short
Aster ASTERUSDT	0.0000%	4h	0.7387	+0.161%	$55.7M	$101.2M	200x	as long as short
Deribit ASTER_USDC-PERPETUAL	0.0000%	1h	0.7377	+0.023%	$11K	$86K	25x	as long as short
gTrade (Gains Network) ASTER/USD	L +0.0006% / S −0.0008%	1h	0.7378	+0.037%	$29K	—	150x	as long as short
01 Exchange ASTERUSD	+0.0032%	1h	0.7377	+0.027%	$8K	$4K	10x	as long as short
Injective ASTER/USDC PERP	+0.0033%	1h	0.7390	+0.203%	$9	$133K	5.5x	as long as short
Orderly PERP_ASTER_USDC	+0.0093%	4h	0.7378	+0.041%	$14K	$845	10x	as long as short
ApeX Omni ASTERUSDT	+0.0094%	1h	0.7374	−0.014%	$66K	$715K	50x	as long as short
Lighter ASTER	+0.0096%	1h	0.7378	+0.046%	$896K	$897K	5x	as long as short
Nado ASTER-PERP	+0.0100%	1h	0.7378	+0.042%	$369K	$255K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ASTER	+0.0100%	1h	0.7390	+0.203%	$25.7M	$6.5M	5x	as long as short
Pacifica ASTER	+0.0100%	1h	0.7378	+0.039%	$253K	$70K	10x	as long as short
Binance ASTERUSDT	+0.0100%	4h	0.7375	+0.003%	$90.4M	$109.8M	75x	as long as short
Bybit ASTERUSDTlong	+0.0100%	4h	0.7375	long leg	$49.4M	$22.7M	75x
OKX ASTER-USDT-SWAP	+0.0100%	4h	0.7375	0.000%	$12.0M	$18.3M	50x	as long as short
Gate ASTER_USDT	+0.0100%	4h	0.7380	+0.068%	$6.4M	$5.2M	75x	as long as short
MEXC ASTER_USDT	+0.0100%	4h	0.7376	+0.014%	$35.1M	$17.4M	100x	as long as short
KuCoin ASTERUSDTM	+0.0100%	4h	0.7377	+0.031%	$11.0M	$3.2M	75x	as long as short
Bitget ASTERUSDT	+0.0100%	4h	0.7376	+0.014%	$17.9M	$6.7M	50x	as long as short
BingX ASTER-USDT	+0.0100%	4h	0.7378	+0.041%	—	$9.6M	—	as long as short
Backpack ASTER_USDC_PERPshort	+0.0100%	1h	0.7387	+0.165%	$221K	$474K	10x
Variational Omni ASTER	+0.0100%	4h	0.7328	−0.639%	$2.1M	$376K	—	as long as short
GRVT ASTER_USDT_Perp	+0.0100%	4h	0.7360	−0.199%	$459K	$3.8M	10x	as long as short
SunX ASTER-USDT	+0.0100%	4h	0.7374	−0.014%	$2K	$1.7M	20x	as long as short
SoDEX ASTER-USD	+0.0100%	1h	0.7383	+0.108%	$13K	$8K	5x	as long as short
HTX ASTER-USDT	+0.0100%	4h	0.7381	+0.081%	$241K	$109K	20x	as long as short
Extended ASTER-USD	+0.0104%	1h	0.7376	+0.015%	$369K	$641K	25x	as long as short
edgeX ASTERUSDC	+0.0115%	4h	0.7356	−0.252%	$212K	$2.0M	10x	as long as short
Kraken Futures PF_ASTERUSD	+0.0227%	1h	0.7387	+0.160%	$340K	$500K	20x	as long as short
GMX ASTER/USD [WBTC.b-USDC]	L +0.0305% / S −0.0215%	1h	0.7375	+0.006%	$28K	—	100x	as long as short
BloFin ASTER-USDT	+0.0340%	4h	0.7367	−0.108%	$3.5M	$1.9M	75x	as long as short
dYdX ASTER-USD	+0.0580%	1h	0.7377	+0.025%	$15K	$1K	5x	as long as short