Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1993%/8h= −218.2% APRpaid last 24h −0.626%

Price spread now: Aster against Deribit−0.055%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Aster

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 against this trade now: funding costs −$60 a day on $10k at the current rate, and Aster is 0.055% cheaper against Deribit than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BILL_USDC-PERPETUAL	0.01369	0.2093	pay 0.0262% / 1h	55m 37s	$107K	$14K	10x
Short	Aster BILLUSDT	0.01368	0.0100	get 0.0050% / 4h	2h 55m	$2K	$4K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Deribit. 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 DeribitbpFee AsterbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$418.52
Price spread: −0.055% → 0.000%: −$5.54
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$439.06
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 13 min ago; 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 Deribit live order book, 13 min ago	12.99 bp	16.5 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

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	+0.0089%	4h	0.01376	+0.511%	$147K	$19K	20x	as long as short
Aster BILLUSDTshort	+0.0100%	4h	0.01368	−0.055%	$2K	$4K	5x
Bybit BILLUSDT	+0.0100%	4h	0.01366	−0.219%	$1.3M	$951K	20x	as long as short
OKX BILL-USDT-SWAP	+0.0100%	4h	0.01366	−0.219%	$1.0M	$2.5M	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01367	−0.146%	$276K	$75K	20x	as long as short
Bitget BILLUSDT	+0.0100%	4h	0.01368	−0.073%	$623K	$905K	20x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01370	+0.073%	$1K	$1.1M	20x	as long as short
Extended BILL-USD	+0.0200%	1h	0.01368	−0.058%	$2K	$224K	5x	as long as short
MEXC BILL_USDT	+0.0202%	4h	0.01368	−0.073%	$1.0M	$328K	50x	as long as short
Binance BILLUSDT	+0.0203%	4h	0.01367	−0.137%	$2.4M	$3.7M	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BILL-USDT	+0.0237%	4h	0.01367	−0.146%	—	$1.7M	—	as long as short
Backpack BILL_USDC_PERP	+0.0497%	1h	0.01365	−0.292%	$21K	$926	5x	as long as short
HTX BILL-USDT	+0.0514%	4h	0.01379	+0.730%	$17K	$8K	20x	as long as short
Coinbase International BILL-PERP-INTX	+0.0632%	1h	0.01374	+0.329%	$47K	$99K	50x	as long as short
KuCoin BILLUSDTM	+0.0796%	4h	0.01369	+0.029%	$441K	$287K	20x	as long as short
Deribit BILL_USDC-PERPETUALlong	+0.2093%	1h	0.01369	long leg	$107K	$14K	10x