Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0088%/8h= −9.6% APRpaid last 24h +0.031%

Price spread now: Aftermath Perps against Aster−0.182%7-day average +0.026% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$270.272% of the position

Long on Aster Short on Aftermath Perps

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 3 days (all we have)+0.360%+$36 · spread now −0.182%, 7d avg +0.026%

Together, before fees+0.416%+ Points / potential airdropAster: Stage 5 · farm board+$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Aftermath Perps is 0.207% cheaper against Aster than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of +0.026%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.056%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BTCUSDT	87,271.9	0.0036	pay 0.0036% / 8h	3h 29m	$510.7M	$1.16B	200x
Short	Aftermath Perps BTCUSD	87,113.2	−0.0053	pay 0.0007% / 1h	29m 26s	$85K	$188K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps 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 Aftermath PerpsbpOrdersPrice spread, now −0.182%Rate

Funding earned: −$18.5
Price spread: −0.182% → +0.026%: −$20.74
Slippage, 4 orders: −$10.21
Fee Aster: 4 bp × 2 orders: −$8
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$66.46
Costs to cover: 0.272%
Break-even: never at this rate

Slippage from Aster: live order book, 5 min ago; Aftermath Perps: live order book, 20 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 Aster live order book, 5 min ago	0.01 bp	4.0 bp −$4	4.1 bp −$41	4.9 bp −$486	6.7 bp −$3,327
Sell Aftermath Perps live order book, 20 min ago	1.01 bp	9.0 bp −$9	doesn't fit	doesn't fit	doesn't fit

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
dYdX BTC-USD	−0.0124%	1h	87,251.1	−0.024%	$18.3M	$19.7M	50x	as long as short
Phoenix BTC	−0.0123%	1h	87,236	−0.041%	$2.2M	$12.0M	40x	as long as short
Perpl BTC	−0.0112%	43m	87,237.8	−0.039%	$425K	$25.9M	6.7x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	87,242	−0.034%	$9K	$3K	50x	as long as short
Aftermath Perps BTCUSDshort	−0.0053%	1h	87,113.2	−0.182%	$85K	$188K	20x
ApeX Omni BTCUSDT	−0.0034%	1h	86,865.4	−0.466%	$141.8M	$321.8M	100x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	87,216.2	−0.064%	$305K	$2.4M	50x	as long as short
KuCoin XBTUSDTM	−0.0005%	8h	87,102	−0.195%	$845.7M	$701.5M	125x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	87,267.1	−0.005%	$934.1M	$1.32B	50x	as long as short
Phemex BTCUSDT	+0.0002%	8h	87,248	−0.027%	$153.6M	$457.2M	150x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	87,113.3	−0.182%	$36.9M	—	200x	as long as short
BingX BTC-USDC	+0.0010%	8h	87,073	−0.228%	—	$15.2M	—	as long as short
RISEx BTC/USDC	+0.0010%	1h	87,279.3	+0.009%	$8.7M	$40.9M	25x	as long as short
Bitget BTCUSDT	+0.0014%	8h	87,093.2	−0.205%	$2.97B	$5.06B	150x	as long as short
Reya BTCRUSDPERP	+0.0016%	1h	87,118.7	−0.176%	$7.0M	$142.0M	40x	as long as short
Injective BTC/USDC PERP	+0.0035%	1h	87,347	+0.086%	$312K	$26.9M	52x	as long as short
Aster BTCUSDTlong	+0.0036%	8h	87,271.9	long leg	$510.7M	$1.16B	200x
OKX BTC-USDT-SWAP	+0.0038%	8h	87,094	−0.204%	$2.62B	$12.68B	100x	as long as short
Kraken Futures PF_XBTUSD	+0.0041%	1h	87,289.4	+0.020%	$198.4M	$916.7M	100x	as long as short
MEXC BTC_USDT	+0.0045%	8h	87,104.1	−0.192%	$5.22B	$5.53B	500x	as long as short
Binance BTCUSDT	+0.0047%	8h	87,091.2	−0.207%	$9.56B	$24.08B	150x	as long as short
Aevo BTC-PERP	+0.0048%	1h	87,100.1	−0.197%	$2.4M	$1.3M	20x	as long as short
Gate BTC_USDT	+0.0059%	8h	87,116.6	−0.178%	$5.93B	$10.50B	200x	as long as short
SoDEX BTC-USD	+0.0075%	1h	87,241	−0.035%	$61.1M	$336.4M	40x	as long as short
Bybit BTCUSDT	+0.0077%	8h	87,080	−0.220%	$5.33B	$9.60B	150x	as long as short
Bulk BTC-USD	+0.0090%	1h	87,280.5	+0.010%	$575.7M	$25.9M	40x	as long as short
Variational Omni BTC	+0.0091%	8h	87,268.9	−0.003%	$164.1M	$550.2M	—	as long as short
Orderly PERP_BTC_USDC	+0.0093%	8h	87,106.4	−0.190%	$2.5M	$8.2M	100x	as long as short
Lighter BTC	+0.0096%	1h	87,244.8	−0.031%	$174.5M	$1.00B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	87,255.6	−0.019%	$24.7M	$148.7M	50x	as long as short
GRVT BTC_USDT_Perp	+0.0096%	8h	86,876.6	−0.453%	$218.0M	$185.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	87,194	−0.089%	$8.6M	$52.1M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	87,314.8	+0.049%	$4.6M	$7.8M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	87,243	−0.033%	$177K	$6.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	87,150.1	−0.140%	$23.3M	$235.4M	50x	as long as short
Pacifica BTC	+0.0100%	1h	87,265	−0.008%	$37.4M	$470.9M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	87,278	+0.007%	$4.0M	$18.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	87,329.6	+0.066%	$7.5M	$94.0M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	87,226.8	−0.052%	$38.7M	$143.8M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	87,259.3	−0.014%	$286.7M	$923.9M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	87,334.4	+0.072%	$31.1M	$206.3M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	87,226.8	−0.052%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	87,139	−0.152%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	87,214	−0.066%	$229K	$3.4M	20x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	87,057.9	−0.245%	$160K	$573K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	87,105	−0.191%	$30.2M	$60.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	87,244.4	−0.032%	$3.5M	$5.7M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	87,238.3	−0.038%	$2.32B	$935.0M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	87,078.9	−0.221%	$46.7M	$228.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	87,268.1	−0.004%	—	$95.1M	500x	as long as short
Hibachi BTC/USDT-P	+0.0120%	1h	87,261.3	−0.012%	$630K	$6.9M	30x	as long as short
Kalshi KXBTCPERP	+0.0125%	8h	87,341	+0.079%	$9.2M	$715.6M	6.4x	as long as short
Coinbase International BTC-PERP-INTX	+0.0136%	1h	87,288	+0.018%	$132.8M	$5.99B	50x	as long as short
BloFin BTC-USDT	+0.0164%	8h	87,279.7	+0.009%	$423.5M	$638.8M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0179% / S −0.0206%	1h	87,111.4	−0.184%	$14.5M	—	200x	as long as short
Hyperliquid BTC	+0.0261%	1h	87,196	−0.087%	$3.95B	$5.00B	40x	as long as short