Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h −0.034%

Price spread now: Jupiter Perps against Aster+0.070%7-day average +0.010% · you sell dearer than you buy

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

Long on Aster Short on Jupiter Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.121%−$12 on $10k

Price spread, last 3 days (all we have)−0.106%−$11 · spread now +0.070%, 7d avg +0.010%

Together, before fees−0.227%+ Points / potential airdropAster: Stage 5 · farm board−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Jupiter Perps is 0.061% dearer against Aster than usual: you sell high and buy low (spread +0.070% now, against its 7-day average of +0.010%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.6 days. At the pace of the last 3 days (−0.121% in total) that is about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BTCUSDT	86,585.9	−0.0004	get 0.0004% / 8h	1h 56m	$505.5M	$1.16B	200x
Short	Jupiter Perps WBTC-PERP	86,646.8	L +0.0104% / S +0.0048%	pay 0.0006% / 1h	56m 24s	—	$98.9M	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Jupiter Perps against Aster. 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 AsterbpFee Jupiter PerpsbpOrdersPrice spread, now +0.070%Rate

Funding earned: −$9.15
Price spread: +0.070% → +0.010%: $6.06
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Net: −$23.09
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 3 min ago; Jupiter Perps: 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 Aster live order book, 3 min ago	0.01 bp	4.2 bp −$4	4.3 bp −$43	5.7 bp −$572	7.8 bp −$3,901
Sell Jupiter Perps no order-book sample	—	—	—	—	—

Jupiter Perps: 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.

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
Aftermath Perps BTCUSD	−0.0230%	1h	86,622.7	+0.042%	$79K	$197K	20x	as long as short
Phoenix BTC	−0.0103%	1h	86,561	−0.029%	$2.2M	$11.7M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,628	+0.049%	$9K	$3K	50x	as long as short
dYdX BTC-USD	−0.0054%	1h	86,634.7	+0.056%	$17.6M	$20.6M	50x	as long as short
Aster BTCUSDTlong	−0.0004%	8h	86,585.9	long leg	$505.5M	$1.16B	200x
01 Exchange BTCUSD	0.0000%	1h	86,616.2	+0.035%	$359K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,648.5	+0.072%	$422K	$24.4M	6.7x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,619.4	+0.039%	$926.6M	$1.47B	50x	as long as short
KuCoin XBTUSDTM	+0.0004%	8h	86,579.3	−0.008%	$851.1M	$709.6M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,614.6	+0.033%	$36.8M	—	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0006%	1h	86,622.9	+0.043%	$8.5M	$43.2M	25x	as long as short
Hibachi BTC/USDT-P	+0.0008%	1h	86,600.7	+0.017%	$727K	$8.1M	30x	as long as short
Reya BTCRUSDPERP	+0.0022%	1h	86,585.5	−0.001%	$6.7M	$144.6M	40x	as long as short
Injective BTC/USDC PERP	+0.0024%	1h	86,587	+0.001%	$315K	$26.8M	52x	as long as short
BingX BTC-USDT	+0.0030%	8h	86,593	+0.008%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0034%	8h	86,590.5	+0.005%	$149.7M	$472.8M	150x	as long as short
Bitget BTCUSDT	+0.0038%	8h	86,600.8	+0.017%	$2.95B	$5.09B	150x	as long as short
Aevo BTC-PERP	+0.0056%	1h	86,595.6	+0.011%	$2.4M	$1.3M	20x	as long as short
MEXC BTC_USDT	+0.0059%	8h	86,590.1	+0.005%	$5.19B	$5.60B	500x	as long as short
Binance BTCUSDT	+0.0059%	8h	86,594.7	+0.010%	$9.42B	$24.38B	150x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,588.3	+0.003%	$5.85B	$10.61B	200x	as long as short
Bybit BTCUSDT	+0.0086%	8h	86,595.4	+0.011%	$5.27B	$9.74B	150x	as long as short
SoDEX BTC-USD	+0.0092%	1h	86,589	+0.004%	$60.5M	$336.7M	40x	as long as short
Lighter BTC	+0.0096%	1h	86,656.7	+0.082%	$172.1M	$996.3M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,659.7	+0.085%	$24.1M	$151.4M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,590	+0.005%	$8.5M	$52.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,600	+0.016%	$201K	$6.8M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,682.3	+0.111%	$4.8M	$8.3M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,624.2	+0.044%	$21.6M	$234.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,665	+0.091%	$3.81B	$5.12B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,670.2	+0.097%	$41.0M	$499.4M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,608.2	+0.026%	$2.55B	$12.73B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,636	+0.058%	$3.9M	$18.7M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,699.7	+0.131%	$7.4M	$94.1M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,590.2	+0.005%	$572.1M	$20.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,619.7	+0.039%	$38.1M	$152.1M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,596.1	+0.012%	$159.3M	$566.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,554.6	−0.036%	$279.5M	$940.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,592.7	+0.008%	$217.3M	$184.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,597.4	+0.013%	$141.6M	$323.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,556	−0.035%	$30.7M	$203.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,647.3	+0.071%	—	$11.6M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,602	+0.019%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,596.4	+0.012%	$193K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,608.4	+0.026%	$2.5M	$8.6M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,622.6	+0.042%	$141K	$619K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,599.4	+0.016%	$30.0M	$61.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,552.4	−0.039%	$3.4M	$5.5M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,590.2	+0.005%	$2.30B	$960.5M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,613.4	+0.032%	$46.4M	$226.5M	50x	as long as short
Jupiter Perps WBTC-PERPshort	L +0.0104% / S +0.0048%	1h	86,646.8	+0.070%	—	$98.9M	500x
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,631	+0.052%	$131.9M	$5.81B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,621.6	+0.041%	$191.5M	$937.1M	100x	as long as short
BloFin BTC-USDT	+0.0179%	8h	86,588.1	+0.003%	$416.7M	$655.0M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0180% / S −0.0210%	1h	86,612	+0.030%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0181%	8h	86,608	+0.025%	$9.6M	$726.4M	6.4x	as long as short