Funding arb · Price arb /

BILL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h −0.033%

Price spread now: Aster against Extended−0.269%7-day average — · you buy dearer than you sell

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

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Aster is 0.269% cheaper against Extended than usual: you would sell low and buy high (−$27 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	Extended BILL-USD	0.01374	0.0232	pay 0.0029% / 1h	7m 50s	$4K	$258K	5x
Short	Aster BILLUSDT	0.01370	0.0100	get 0.0050% / 4h	1h 07m	$3K	$5K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Extended. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ExtendedbpFee AsterbpOrdersPrice spread, now −0.269%Rate

Funding earned: −$27.72
Price spread: −0.269% → 0.000%: −$26.91
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$67.63
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 34 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 Extended live order book, 34 min ago	5.13 bp	67.4 bp −$67	497.0 bp −$4,970	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
Aster BILLUSDTshort	+0.0100%	4h	0.01370	−0.269%	$3K	$5K	5x
Bybit BILLUSDT	+0.0100%	4h	0.01371	−0.190%	$1.3M	$1.1M	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01374	+0.028%	$302K	$125K	20x	as long as short
Backpack BILL_USDC_PERP	+0.0100%	1h	0.01371	−0.190%	$21K	$876	5x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01375	+0.101%	$1K	$1.3M	20x	as long as short
HTX BILL-USDT	+0.0100%	4h	0.01371	−0.190%	$11K	$40K	20x	as long as short
BloFin BILL-USDT	+0.0160%	4h	0.01368	−0.409%	$147K	$17K	20x	as long as short
MEXC BILL_USDT	+0.0214%	4h	0.01374	+0.028%	$1.0M	$341K	50x	as long as short
Bitget BILLUSDT	+0.0218%	4h	0.01374	+0.028%	$659K	$1.4M	20x	as long as short
Extended BILL-USDlong	+0.0232%	1h	0.01374	long leg	$4K	$258K	5x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BILLUSDT	+0.0237%	4h	0.01374	+0.028%	$2.5M	$4.4M	20x	as long as short
BingX BILL-USDT	+0.0388%	4h	0.01375	+0.101%	—	$1.7M	—	as long as short
OKX BILL-USDT-SWAP	+0.0525%	4h	0.01375	+0.101%	$1.2M	$3.0M	20x	as long as short
Coinbase International BILL-PERP-INTX	+0.0808%	1h	0.01364	−0.664%	$38K	$100K	50x	as long as short
KuCoin BILLUSDTM	+0.0816%	4h	0.01374	+0.028%	$448K	$345K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.4065%	1h	0.01373	−0.030%	$149K	$53K	10x	as long as short