Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0179%/8h= −19.6% APRpaid last 24h −0.023%

Price spread now: Aster against Aftermath Perps+0.038%7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$270.274% of the position

Long on Aftermath Perps Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.056%−$6 on $10k

Price spread, last 4 days (all we have)−0.217%−$22 · spread now +0.038%, 7d avg −0.026%

Together, before fees−0.273%+ Points / potential airdropAster: Stage 5 · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.065% dearer against Aftermath Perps than usual: you sell high and buy low (spread +0.038% now, against its 7-day average of −0.026%): +$6 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 29 hours. At the pace of the last 3 days (−0.056% in total) that is about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps BTCUSD	85,743.4	0.0197	pay 0.0025% / 1h	20m 56s	$78K	$219K	20x
Short	Aster BTCUSDT	85,776.1	0.0019	get 0.0019% / 8h	5h 20m	$516.8M	$1.10B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Aftermath Perps. 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 Aftermath PerpsbpFee AsterbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$37.58
Price spread: +0.038% → −0.026%: $6.45
Slippage, 4 orders: −$10.4
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$58.52
Costs to cover: 0.274%
Break-even: never at this rate

Slippage from Aftermath Perps: live order book, 43 min ago; Aster: live order book, 3 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 Aftermath Perps live order book, 43 min ago	1.00 bp	9.4 bp −$9	23.1 bp −$231	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	0.01 bp	4.1 bp −$4	5.2 bp −$52	6.5 bp −$654	10.8 bp −$5,407

BTC on 56 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
Bluefin BTC-PERP	−0.0359%	1h	85,824.6	+0.095%	$197K	$722K	40x	as long as short
Phoenix BTC	−0.0160%	1h	85,789	+0.053%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,818	+0.087%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	85,801.9	+0.068%	$369K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0034%	8h	85,792	+0.057%	$416.7M	$665.4M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,796.5	+0.062%	$16.8M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,799.6	+0.066%	$36.7M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0007%	8h	85,780.2	+0.043%	$919.3M	$751.5M	125x	as long as short
Nado BTC-PERP	+0.0010%	1h	85,803.4	+0.070%	$22.7M	$220.1M	50x	as long as short
Aster BTCUSDTshort	+0.0019%	8h	85,776.1	+0.038%	$516.8M	$1.10B	200x

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0054%	8h	85,775.2	+0.037%	—	$17.0M	—	as long as short
Bitget BTCUSDT	+0.0070%	8h	85,787.6	+0.052%	$2.96B	$5.02B	150x	as long as short
Reya BTCRUSDPERP	+0.0071%	1h	85,797.4	+0.063%	$6.7M	$146.5M	40x	as long as short
Phemex BTCUSDT	+0.0076%	8h	85,783.6	+0.047%	$148.3M	$479.6M	150x	as long as short
HTX BTC-USDT	+0.0079%	8h	85,786.6	+0.050%	$2.27B	$935.2M	200x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,807	+0.074%	$341K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,775	+0.037%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0085%	8h	85,781.1	+0.044%	$5.06B	$5.63B	500x	as long as short
Binance BTCUSDT	+0.0086%	8h	85,780.1	+0.043%	$9.36B	$23.87B	150x	as long as short
Deribit BTC-PERPETUAL	+0.0086%	1h	85,824.8	+0.095%	$891.8M	$1.52B	50x	as long as short
SunX BTC-USDT	+0.0090%	8h	85,763.3	+0.023%	$2.9M	$6.1M	100x	as long as short
Lighter BTC	+0.0096%	1h	85,790.1	+0.054%	$170.2M	$993.9M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,793.5	+0.058%	$24.0M	$148.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,803	+0.070%	$8.4M	$52.2M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,843.8	+0.117%	$3.8M	$8.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,774	+0.036%	$198K	$7.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,859	+0.135%	$3.75B	$4.97B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,814.6	+0.083%	$40.2M	$574.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,796.1	+0.061%	$5.34B	$9.56B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,797.9	+0.064%	$2.58B	$12.11B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,791	+0.056%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,771.3	+0.033%	$6.7M	$97.5M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,791.5	+0.056%	$5.56B	$10.54B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,776.3	+0.038%	$35.1M	$172.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,772.2	+0.034%	$155.9M	$551.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,654	−0.104%	$279.8M	$920.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,717.9	−0.030%	$215.3M	$166.0M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,706.4	−0.043%	$140.3M	$314.7M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,705.2	−0.045%	$30.3M	$209.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,842.7	+0.116%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,801	+0.067%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,794.1	+0.059%	$192K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,778.1	+0.040%	$2.4M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,782.9	+0.046%	$30.0M	$51.0M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,783	+0.046%	$60.1M	$336.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,681.9	−0.072%	$628.9M	$439.0M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,765.7	+0.026%	$44.2M	$226.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,800.5	+0.067%	—	$105.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,828.7	+0.099%	$130.4M	$5.10B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,830.9	+0.102%	$8.4M	$42.1M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,809.4	+0.077%	$188.9M	$951.8M	100x	as long as short
Aftermath Perps BTCUSDlong	+0.0197%	1h	85,743.4	long leg	$78K	$219K	20x
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0179%	1h	85,796.3	+0.062%	$13.6M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0208%	1h	85,748.8	+0.006%	$703K	$7.8M	30x	as long as short
Kalshi KXBTCPERP	+0.0218%	8h	85,819	+0.088%	$10.5M	$757.7M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,814.8	+0.083%	$513K	$19.3M	6.7x	as long as short