Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.007%

Price spread now: Aster against Aevo+0.084%49s7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$280.276% of the position

Long on Aevo Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 3 days (all we have)−0.055%−$6 · spread now +0.084%, 7d avg +0.017%

Together, before fees−0.074%+ Points / potential airdropAster: Stage 5 · farm board−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.067% dearer against Aevo than usual: you sell high and buy low (spread +0.084% now, against its 7-day average of +0.017%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.9 days. At the pace of the last 7 days (−0.019% in total) that is about 25 days. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo BTC-PERP	85,563.3	0.0080	pay 0.0010% / 1h	32m 36s	$2.5M	$1.8M	20x
Short	Aster BTCUSDT	85,635.4	0.0034	get 0.0034% / 8h	6h 32m	$496.5M	$1.14B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Aevo. 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 AevobpFee AsterbpOrdersPrice spread, now +0.084%Rate

Funding earned: −$9.66
Price spread: +0.084% → +0.017%: $6.7
Slippage, 4 orders: −$3.59
Fee Aevo: 8 bp × 2 orders: −$16
Fee Aster: 4 bp × 2 orders: −$8
Net: −$30.54
Costs to cover: 0.276%
Break-even: never at this rate

Slippage from Aevo: live order book, 2 min ago; Aster: live order book, 2 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 Aevo live order book, 2 min ago	1.11 bp	10.3 bp −$10	11.6 bp −$116	17.4 bp −$1,740	doesn't fit
Sell Aster live order book, 2 min ago	0.01 bp	4.0 bp −$4	4.0 bp −$40	5.5 bp −$548	9.5 bp −$4,732

BTC on 55 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
Phoenix BTC	−0.0144%	1h	85,641	+0.091%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,596	+0.038%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,654.9	+0.107%	$364K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,669.5	+0.124%	$515K	$20.9M	6.7x	as long as short
dYdX BTC-USD	+0.0001%	1h	85,662	+0.115%	$16.8M	$20.9M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,563.6	0.000%	$36.6M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,691	+0.149%	$340K	$26.9M	52x	as long as short
Aster BTCUSDTshort	+0.0034%	8h	85,635.4	+0.084%	$496.5M	$1.14B	200x
KuCoin XBTUSDTM	+0.0036%	8h	85,599.9	+0.043%	$901.4M	$755.9M	125x	as long as short
ApeX Omni BTCUSDT	+0.0037%	1h	85,595.3	+0.037%	$140.0M	$320.4M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0044%	1h	85,672.7	+0.128%	$7.8M	$42.4M	25x	as long as short
BingX BTC-USDT	+0.0054%	8h	85,656.7	+0.109%	—	$1.58B	—	as long as short
Reya BTCRUSDPERP	+0.0056%	1h	85,669.1	+0.124%	$6.7M	$146.2M	40x	as long as short
HTX BTC-USDT	+0.0058%	8h	85,534.2	−0.034%	$2.27B	$954.7M	200x	as long as short
Nado BTC-PERP	+0.0065%	1h	85,625.4	+0.073%	$22.8M	$228.6M	50x	as long as short
Bitget BTCUSDT	+0.0069%	8h	85,673.7	+0.129%	$2.94B	$5.11B	150x	as long as short
Aevo BTC-PERPlong	+0.0080%	1h	85,563.3	long leg	$2.5M	$1.8M	20x
MEXC BTC_USDT	+0.0088%	8h	85,659.1	+0.112%	$5.06B	$5.71B	500x	as long as short
Binance BTCUSDT	+0.0089%	8h	85,668.1	+0.122%	$9.33B	$24.47B	150x	as long as short
Gate BTC_USDT	+0.0091%	8h	85,656.5	+0.109%	$5.61B	$10.50B	200x	as long as short
Lighter BTC	+0.0096%	1h	85,650.7	+0.102%	$169.4M	$985.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,638.7	+0.088%	$23.2M	$146.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,668	+0.122%	$8.4M	$52.1M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,625	+0.072%	$207K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,621.8	+0.068%	$3.8M	$8.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,743	+0.210%	$3.76B	$5.00B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,676.8	+0.133%	$40.7M	$569.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,678.4	+0.135%	$5.29B	$9.80B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,685.2	+0.142%	$2.54B	$12.42B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,658	+0.111%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,631.8	+0.080%	$7.2M	$98.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,548	−0.018%	$35.1M	$162.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,619.2	+0.065%	$156.3M	$559.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,580.7	+0.020%	$278.2M	$944.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,597.4	+0.040%	$214.9M	$168.6M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,612.6	+0.058%	$30.3M	$208.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,709.9	+0.171%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,671	+0.126%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,574.4	+0.013%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,575.3	+0.014%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,608.7	+0.053%	$186K	$709K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,571.7	+0.010%	$29.9M	$57.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,521.5	−0.049%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,569	+0.007%	$59.9M	$337.5M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,553.1	−0.012%	$153.1M	$480.3M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,587.5	+0.028%	$583.6M	$150.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,632.9	+0.081%	$43.9M	$228.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,595.7	+0.038%	—	$101.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,587.3	+0.028%	$130.7M	$5.21B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0122%	1h	85,594.4	+0.036%	$894.0M	$1.54B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,599.8	+0.043%	$696K	$7.9M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,569.5	+0.007%	$188.5M	$966.6M	100x	as long as short
Aftermath Perps BTCUSD	+0.0160%	1h	85,637.1	+0.086%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0204% / S −0.0191%	1h	85,579.1	+0.018%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0207%	8h	85,610	+0.055%	$10.0M	$771.1M	6.4x	as long as short