Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0037%/8h= +4.1% APRpaid last 24h −0.016%

Price spread now: dYdX against Aster+0.051%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$250.252% of the position

Long on Aster Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.100%−$10 on $10k

Price spread, last 7 days−0.015%−$1 · spread now +0.051%, 7d avg −0.005%

Together, before fees−0.115%+ Points / potential airdropAster: Stage 5 · farm board−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and dYdX is 0.056% dearer against Aster than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.005%. Mind the row above: over the last 7 days funding on this pair cost −0.100%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BTCUSDT	85,449.5	−0.0007	get 0.0007% / 8h	3h 12m	$514.5M	$1.10B	200x
Short	dYdX BTC-USD	85,493.3	0.0030	get 0.0004% / 1h	12m 57s	$16.8M	$21.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.051%Rate

Funding earned: $7.87
Price spread: +0.051% → −0.005%: $5.62
Slippage, 4 orders: −$7.23
Fee Aster: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$11.74
Costs to cover: 0.252%
Break-even: 17.4 days

Slippage from Aster: live order book, 6 min ago; dYdX: live order book, 1 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, 6 min ago	0.01 bp	4.1 bp −$4	4.3 bp −$43	5.2 bp −$523	7.3 bp −$3,646
Sell dYdX live order book, 1 min ago	3.04 bp	9.0 bp −$9	15.7 bp −$157	29.1 bp −$2,914	48.9 bp −$24.4K

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
Phoenix BTC	−0.0140%	1h	85,504	+0.064%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,540	+0.106%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0045%	8h	85,451.6	+0.002%	$919.3M	$758.2M	125x	as long as short
BloFin BTC-USDT	−0.0027%	8h	85,453.8	+0.005%	$420.4M	$675.7M	150x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	85,483.3	+0.040%	$363K	$2.3M	50x	as long as short
Aster BTCUSDTlong	−0.0007%	8h	85,449.5	long leg	$514.5M	$1.10B	200x
Perpl BTC	0.0000%	43m	85,482.2	+0.038%	$503K	$18.7M	6.7x	as long as short
Nado BTC-PERP	+0.0003%	1h	85,475	+0.030%	$24.4M	$222.9M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,477.8	+0.033%	$36.5M	—	200x	as long as short
dYdX BTC-USDshort	+0.0030%	1h	85,493.3	+0.051%	$16.8M	$21.2M	50x

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0044%	1h	85,552	+0.120%	$340K	$26.9M	52x	as long as short
SoDEX BTC-USD	+0.0049%	1h	85,454	+0.005%	$59.9M	$335.9M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0056%	1h	85,499.8	+0.059%	$872.2M	$1.60B	50x	as long as short
BingX BTC-USDC	+0.0063%	8h	85,432.5	−0.020%	—	$17.1M	—	as long as short
Phemex BTCUSDT	+0.0068%	8h	85,457.5	+0.009%	$148.7M	$497.2M	150x	as long as short
Bitget BTCUSDT	+0.0079%	8h	85,457	+0.009%	$2.95B	$5.12B	150x	as long as short
Binance BTCUSDT	+0.0093%	8h	85,452.3	+0.003%	$9.44B	$24.47B	150x	as long as short
MEXC BTC_USDT	+0.0093%	8h	85,453.8	+0.005%	$5.07B	$5.67B	500x	as long as short
Lighter BTC	+0.0096%	1h	85,467.9	+0.022%	$172.0M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,469.2	+0.023%	$23.9M	$149.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,464	+0.017%	$8.4M	$55.1M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,453.1	+0.004%	$2.7M	$3.4M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,462	+0.015%	$228K	$8.4M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,537	+0.102%	$5.7M	$9.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,548	+0.115%	$3.79B	$5.02B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,511.8	+0.073%	$40.4M	$591.8M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,453.9	+0.005%	$5.17B	$9.87B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,463.1	+0.016%	$2.59B	$12.12B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,471	+0.025%	$3.8M	$17.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,474.4	+0.029%	$4.7M	$99.4M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,460.9	+0.013%	$5.53B	$10.85B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,452	+0.003%	$36.4M	$178.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,488.9	+0.046%	$154.5M	$565.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,507.9	+0.068%	$279.4M	$932.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,529.2	+0.093%	$214.9M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,566.9	+0.137%	$139.9M	$316.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,472	+0.026%	$30.2M	$206.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,530.7	+0.095%	—	$11.0M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,462	+0.015%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,464.1	+0.017%	$204K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,456.4	+0.008%	$2.5M	$8.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,508.6	+0.069%	$207K	$737K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,446.3	−0.004%	$30.0M	$50.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,455.7	+0.007%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,461.9	+0.015%	$2.26B	$950.1M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,447	−0.003%	$679.5M	$701.9M	40x	as long as short
Reya BTCRUSDPERP	+0.0104%	1h	85,452.5	+0.004%	$6.6M	$147.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,427.3	−0.026%	$45.7M	$235.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,495.2	+0.053%	—	$106.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,493.4	+0.051%	$117.3M	$5.26B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,472.4	+0.027%	$187.7M	$956.7M	100x	as long as short
Kalshi KXBTCPERP	+0.0173%	8h	85,511	+0.072%	$11.5M	$753.4M	6.4x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,511.5	+0.073%	$8.6M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0151%	1h	85,476.1	+0.031%	$13.0M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,555.1	+0.124%	$700K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0251%	1h	85,524.6	+0.088%	$78K	$222K	20x	as long as short