Funding arb · Price arb /

ASTER

all ASTER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.055%

Price spread now: Backpack against Hyperliquid−0.014%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$290.290% of the position

Long on Hyperliquid Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.099%−$10 on $10k

Price spread, last 4 days (all we have)−0.297%−$30 · spread now −0.014%, 7d avg −0.067%

Together, before fees−0.396%+ Points / potential airdropHyperliquid: Season 2 · farm board−$40 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 0.054% dearer against Hyperliquid than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ASTER	0.7274	0.0100	pay 0.0013% / 1h	8m 58s	$24.7M	$7.7M	5x
Short	Backpack ASTER_USDC_PERP	0.7273	0.0100	get 0.0013% / 1h	8m 58s	$210K	$495K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Hyperliquid. 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 HyperliquidbpFee BackpackbpOrdersPrice spread, now −0.014%Rate

Funding earned: $0
Price spread: −0.014% → −0.067%: $5.37
Slippage, 4 orders: −$10.01
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$23.64
Costs to cover: 0.290%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; Backpack: live order book, 50 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 Hyperliquid live order book, 4 min ago	0.28 bp	6.2 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 50 min ago	0.07 bp	5.5 bp −$5	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	−0.0072%	1h	0.7268	−0.080%	$255K	$1.0M	50x	as long as short
01 Exchange ASTERUSD	−0.0024%	1h	0.7266	−0.107%	$8K	$4K	10x	as long as short
Aster ASTERUSDT	0.0000%	4h	0.7271	−0.036%	$52.8M	$110.5M	200x	as long as short
dYdX ASTER-USD	0.0000%	1h	0.7269	−0.071%	$14K	$1K	5x	as long as short
Deribit ASTER_USDC-PERPETUAL	0.0000%	1h	0.7270	−0.058%	$11K	$72K	25x	as long as short
gTrade (Gains Network) ASTER/USD	L +0.0006% / S −0.0005%	1h	0.7270	−0.051%	$23K	—	150x	as long as short
Injective ASTER/USDC PERP	+0.0033%	1h	0.7390	+1.598%	$9	$133K	5.5x	as long as short
Orderly PERP_ASTER_USDC	+0.0067%	4h	0.7271	−0.038%	$14K	$845	10x	as long as short
Lighter ASTER	+0.0096%	1h	0.7273	−0.014%	$880K	$922K	5x	as long as short
Nado ASTER-PERP	+0.0100%	1h	0.7266	−0.106%	$354K	$272K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ASTERlong	+0.0100%	1h	0.7274	long leg	$24.7M	$7.7M	5x
Pacifica ASTER	+0.0100%	1h	0.7268	−0.082%	$253K	$81K	10x	as long as short
Binance ASTERUSDT	+0.0100%	4h	0.7270	−0.057%	$89.3M	$120.2M	75x	as long as short
Bybit ASTERUSDT	+0.0100%	4h	0.7272	−0.025%	$48.8M	$25.1M	75x	as long as short
OKX ASTER-USDT-SWAP	+0.0100%	4h	0.7271	−0.038%	$12.3M	$19.8M	50x	as long as short
Gate ASTER_USDT	+0.0100%	4h	0.7271	−0.038%	$6.4M	$5.7M	75x	as long as short
MEXC ASTER_USDT	+0.0100%	4h	0.7269	−0.066%	$33.5M	$19.9M	100x	as long as short
KuCoin ASTERUSDTM	+0.0100%	4h	0.7269	−0.060%	$10.8M	$3.3M	75x	as long as short
Bitget ASTERUSDT	+0.0100%	4h	0.7262	−0.162%	$17.7M	$7.6M	50x	as long as short
BingX ASTER-USDT	+0.0100%	4h	0.7268	−0.080%	—	$9.8M	—	as long as short
Backpack ASTER_USDC_PERPshort	+0.0100%	1h	0.7273	−0.014%	$210K	$495K	10x
Variational Omni ASTER	+0.0100%	4h	0.7256	−0.243%	$2.1M	$401K	—	as long as short
GRVT ASTER_USDT_Perp	+0.0100%	4h	0.7259	−0.203%	$445K	$4.0M	10x	as long as short
ApeX Omni ASTERUSDT	+0.0100%	1h	0.7263	−0.148%	$98K	$732K	50x	as long as short
SunX ASTER-USDT	+0.0100%	4h	0.7273	−0.011%	$3K	$1.7M	20x	as long as short
SoDEX ASTER-USD	+0.0100%	1h	0.7269	−0.066%	$13K	$8K	5x	as long as short
HTX ASTER-USDT	+0.0100%	4h	0.7266	−0.107%	$241K	$141K	20x	as long as short
Extended ASTER-USD	+0.0104%	1h	0.7268	−0.073%	$363K	$635K	25x	as long as short
edgeX ASTERUSDC	+0.0112%	4h	0.7256	−0.251%	$211K	$2.1M	10x	as long as short
Kraken Futures PF_ASTERUSD	+0.0283%	1h	0.7275	+0.014%	$344K	$590K	20x	as long as short
GMX ASTER/USD [WBTC.b-USDC]	L +0.0303% / S −0.0215%	1h	0.7272	−0.027%	$28K	—	100x	as long as short
BloFin ASTER-USDT	+0.0340%	4h	0.7267	−0.093%	$3.5M	$2.1M	75x	as long as short