Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.2105%/8h= +230.5% APRpaid last 24h +0.626%

Price spread now: Deribit against Aster+0.134%7-day average — · you sell dearer than you buy

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

Long on Aster Short on Deribit

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$63 a day on $10k at the current rate, and Deribit is 0.134% dearer against Aster than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BILLUSDT	0.01386	0.0100	pay 0.0050% / 4h	3h 43m	$2K	$4K	5x
Short	Deribit BILL_USDC-PERPETUAL	0.01388	0.2205	get 0.0276% / 1h	43m 01s	$108K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Aster. 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 AsterbpFee DeribitbpOrdersPrice spread, now +0.134%Rate

Funding earned: $442.06
Price spread: +0.134% → 0.000%: $13.37
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $440.43
Costs to cover: 0.150%
Break-even: 0.0 days

Slippage unknown: Aster: no order-book sample; Deribit: live order book, 30 min ago. 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 Aster no order-book sample	—	—	—	—	—
Sell Deribit live order book, 30 min ago	11.23 bp	14.7 bp −$15	doesn't fit	doesn't fit	doesn't fit

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.

BILL on 16 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
BloFin BILL-USDT	+0.0055%	4h	0.01385	−0.104%	$144K	$19K	20x	as long as short
Aster BILLUSDTlong	+0.0100%	4h	0.01386	long leg	$2K	$4K	5x
Bybit BILLUSDT	+0.0100%	4h	0.01385	−0.104%	$1.3M	$937K	20x	as long as short
OKX BILL-USDT-SWAP	+0.0100%	4h	0.01387	+0.040%	$1.0M	$2.5M	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01387	+0.040%	$280K	$82K	20x	as long as short
Bitget BILLUSDT	+0.0100%	4h	0.01386	−0.032%	$631K	$847K	20x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01389	+0.184%	$2K	$1.1M	20x	as long as short
Backpack BILL_USDC_PERP	+0.0212%	1h	0.01387	+0.040%	$22K	$926	5x	as long as short
MEXC BILL_USDT	+0.0318%	4h	0.01386	−0.032%	$1.0M	$320K	50x	as long as short
Binance BILLUSDT	+0.0319%	4h	0.01387	+0.040%	$2.5M	$3.6M	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended BILL-USD	+0.0320%	1h	0.01387	+0.017%	$4K	$240K	5x	as long as short
BingX BILL-USDT	+0.0322%	4h	0.01387	+0.040%	—	$1.7M	—	as long as short
Coinbase International BILL-PERP-INTX	+0.0632%	1h	0.01386	−0.039%	$47K	$100K	50x	as long as short
HTX BILL-USDT	+0.0769%	4h	0.01391	+0.328%	$17K	$8K	20x	as long as short
KuCoin BILLUSDTM	+0.0978%	4h	0.01388	+0.119%	$443K	$278K	20x	as long as short
Deribit BILL_USDC-PERPETUALshort	+0.2205%	1h	0.01388	+0.134%	$108K	$14K	10x