Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0111%/8h= +12.2% APRpaid last 24h +0.008%

Price spread now: Kraken Futures against Aster−0.043%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$180.182% of the position

Long on Aster Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.041%+$4 on $10k

Price spread, last 3 days (all we have)+0.044%+$4 · spread now −0.043%, 7d avg +0.016%

Together, before fees+0.085%+ Points / potential airdropAster: Stage 5 · farm board+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.059% cheaper against Aster than usual: you would sell low and buy high (spread −0.043% now, against its 7-day average of +0.016%). If the spread goes back, that is −$6 on $10k: about 42 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.041% in total) that is about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BTCUSDT	85,717	0.0035	pay 0.0035% / 8h	6h 28m	$509.5M	$1.14B	200x
Short	Kraken Futures PF_XBTUSD	85,680.6	0.0146	get 0.0018% / 1h	28m 44s	$188.7M	$965.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.043%Rate

Funding earned: $23.4
Price spread: −0.043% → +0.016%: −$5.88
Slippage, 4 orders: −$0.21
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$0.69
Costs to cover: 0.182%
Break-even: 7.2 days

Slippage from Aster: live order book, 5 min ago; Kraken Futures: live order book, 5 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	5.7 bp −$57	6.4 bp −$642	7.8 bp −$3,887
Sell Kraken Futures live order book, 5 min ago	0.06 bp	5.1 bp −$5	6.1 bp −$61	7.3 bp −$727	8.9 bp −$4,472

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	85,735	+0.021%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,689	−0.033%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,734.8	+0.021%	$364K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,755.5	+0.045%	$515K	$20.7M	6.7x	as long as short
dYdX BTC-USD	+0.0003%	1h	85,708.5	−0.010%	$16.8M	$20.9M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,689.6	−0.032%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,691	−0.030%	$340K	$26.9M	52x	as long as short
KuCoin XBTUSDTM	+0.0034%	8h	85,702.9	−0.016%	$903.4M	$754.9M	125x	as long as short
Aster BTCUSDTlong	+0.0035%	8h	85,717	long leg	$509.5M	$1.14B	200x
RISEx BTC/USDC	+0.0044%	1h	85,755.2	+0.045%	$8.2M	$42.6M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0054%	8h	85,699.1	−0.021%	—	$1.58B	—	as long as short
ApeX Omni BTCUSDT	+0.0056%	1h	85,655.9	−0.071%	$140.1M	$319.3M	100x	as long as short
Reya BTCRUSDPERP	+0.0057%	1h	85,699.4	−0.020%	$6.7M	$146.2M	40x	as long as short
HTX BTC-USDT	+0.0058%	8h	85,656.9	−0.070%	$2.27B	$952.6M	200x	as long as short
Nado BTC-PERP	+0.0061%	1h	85,748.6	+0.037%	$22.7M	$228.3M	50x	as long as short
Bitget BTCUSDT	+0.0069%	8h	85,690.1	−0.031%	$2.94B	$5.11B	150x	as long as short
MEXC BTC_USDT	+0.0088%	8h	85,736	+0.022%	$5.07B	$5.72B	500x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,668.5	−0.057%	$2.5M	$1.8M	20x	as long as short
Binance BTCUSDT	+0.0089%	8h	85,728	+0.013%	$9.33B	$24.40B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,703.5	−0.016%	$170.1M	$988.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,712.5	−0.005%	$23.4M	$146.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,746	+0.034%	$8.4M	$52.0M	100x	as long as short
Gate BTC_USDT	+0.0098%	8h	85,692.5	−0.029%	$5.62B	$10.52B	200x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,707	−0.012%	$206K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,713	−0.005%	$3.8M	$8.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,763	+0.054%	$3.76B	$5.00B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,749.6	+0.038%	$40.3M	$571.4M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,751.2	+0.040%	$5.30B	$9.78B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,735.7	+0.022%	$2.54B	$12.40B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,710	−0.008%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,708.4	−0.010%	$7.3M	$98.2M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,663	−0.063%	$35.3M	$163.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,640.3	−0.090%	$156.2M	$559.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,632.3	−0.099%	$278.5M	$946.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,580.1	−0.160%	$214.9M	$167.6M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,678.2	−0.045%	$30.3M	$208.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,769.9	+0.062%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,735	+0.021%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,696.2	−0.024%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,676.7	−0.047%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,711.6	−0.006%	$186K	$708K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,678.2	−0.045%	$30.0M	$56.7M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,658.5	−0.068%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,675	−0.049%	$60.0M	$337.5M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,670.3	−0.054%	$153.0M	$480.1M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,587.5	−0.151%	$583.6M	$150.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,666.5	−0.059%	$43.9M	$228.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,750.9	+0.040%	—	$101.2M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,704.9	−0.014%	$131.0M	$5.17B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,716.1	−0.001%	$698K	$7.9M	30x	as long as short
Deribit BTC-PERPETUAL	+0.0142%	1h	85,710	−0.008%	$894.4M	$1.53B	50x	as long as short
Kraken Futures PF_XBTUSDshort	+0.0146%	1h	85,680.6	−0.043%	$188.7M	$965.0M	100x
Aftermath Perps BTCUSD	+0.0164%	1h	85,680.1	−0.043%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0192%	1h	85,702.3	−0.017%	$13.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0210%	8h	85,741	+0.028%	$10.0M	$770.4M	6.4x	as long as short