Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0043%/8h= +4.7% APRpaid last 24h +0.012%

Price spread now: Aster against Injective+0.134%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs+$2as in the Price arb table

costs, in and out, $10k−$130.132% of the position

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 3 days (all we have)−0.101%−$10 · spread now +0.134%, 7d avg −0.016%

Together, before fees−0.125%+ Points / potential airdropAster: Stage 5 · farm board−$12 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 Aster is 0.150% dearer against Injective than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BTC/USDC PERP	86,345	−0.0035	get 0.0004% / 1h	10m 40s	$332K	$26.9M	52x
Short	Aster BTCUSDT	86,460.4	0.0008	get 0.0008% / 8h	10m 40s	$501.5M	$1.15B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now +0.134%Rate

Funding earned: $8.97
Price spread: +0.134% → −0.016%: $14.96
Slippage, 4 orders: −$5.16
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: $10.75
Costs to cover: 0.132%
Break-even: from the start

Slippage from Injective: live order book, 4 min ago; Aster: live order book, 4 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 Injective live order book, 4 min ago	2.02 bp	2.0 bp −$2	11.0 bp −$110	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	0.01 bp	4.0 bp −$4	4.0 bp −$40	5.1 bp −$515	8.4 bp −$4,211

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	−0.0118%	1h	86,462	+0.136%	$2.2M	$11.8M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,422	+0.089%	$9K	$3K	50x	as long as short
Injective BTC/USDC PERPlong	−0.0035%	1h	86,345	long leg	$332K	$26.9M	52x
RISEx BTC/USDC	−0.0024%	1h	86,478.5	+0.155%	$8.3M	$42.8M	25x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	86,481	+0.158%	$358K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,463.4	+0.137%	$414K	$22.5M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,438.3	+0.108%	$36.8M	—	200x	as long as short
Aster BTCUSDTshort	+0.0008%	8h	86,460.4	+0.134%	$501.5M	$1.15B	200x
KuCoin XBTUSDTM	+0.0021%	8h	86,459.9	+0.133%	$833.8M	$728.5M	125x	as long as short
Reya BTCRUSDPERP	+0.0035%	1h	86,421.7	+0.089%	$6.7M	$145.5M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0042%	8h	86,461.7	+0.135%	—	$15.4M	—	as long as short
Bitget BTCUSDT	+0.0055%	8h	86,467.3	+0.142%	$2.96B	$5.13B	150x	as long as short
Phemex BTCUSDT	+0.0056%	8h	86,414.8	+0.081%	$150.5M	$478.4M	150x	as long as short
dYdX BTC-USD	+0.0063%	1h	86,456.7	+0.129%	$16.9M	$21.2M	50x	as long as short
Aevo BTC-PERP	+0.0072%	1h	86,411.8	+0.077%	$2.5M	$1.4M	20x	as long as short
MEXC BTC_USDT	+0.0073%	8h	86,456.5	+0.129%	$5.16B	$5.69B	500x	as long as short
Binance BTCUSDT	+0.0074%	8h	86,461.2	+0.135%	$9.43B	$24.55B	150x	as long as short
Gate BTC_USDT	+0.0082%	8h	86,464.4	+0.138%	$5.85B	$10.81B	200x	as long as short
Lighter BTC	+0.0096%	1h	86,470.6	+0.145%	$170.2M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,481.1	+0.158%	$23.9M	$152.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,473	+0.148%	$8.5M	$52.3M	100x	as long as short
Bybit BTCUSDT	+0.0099%	8h	86,468.6	+0.143%	$5.26B	$9.80B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,445	+0.116%	$196K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,499.4	+0.179%	$4.8M	$8.5M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,437.5	+0.107%	$21.8M	$234.1M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,513.6	+0.195%	$3.79B	$5.11B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,488.1	+0.166%	$41.1M	$535.5M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,475.6	+0.151%	$2.55B	$12.73B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,459	+0.132%	$3.9M	$18.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,502.6	+0.183%	$7.3M	$95.9M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,449	+0.120%	$572.1M	$12.5M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,412.4	+0.078%	$37.9M	$156.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,407.7	+0.073%	$157.0M	$567.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,408.7	+0.074%	$279.1M	$946.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,427	+0.095%	$217.0M	$172.5M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,423.1	+0.090%	$141.3M	$323.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,450.5	+0.122%	$30.7M	$206.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,478.7	+0.155%	—	$11.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,424	+0.091%	$11.1M	$13.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,427	+0.095%	$192K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,415.4	+0.082%	$2.5M	$9.4M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,447.2	+0.118%	$140K	$664K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,449.7	+0.121%	$30.5M	$62.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,434.9	+0.104%	$3.4M	$5.3M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,408	+0.073%	$60.4M	$338.0M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,402.5	+0.067%	$2.29B	$968.2M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,456.5	+0.129%	$45.7M	$227.6M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,463.9	+0.138%	—	$100.0M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0110%	1h	86,443	+0.114%	$192.8M	$953.2M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,456.3	+0.129%	$132.2M	$5.64B	50x	as long as short
Aftermath Perps BTCUSD	+0.0156%	1h	86,461.8	+0.135%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	86,476.8	+0.153%	$717K	$8.1M	30x	as long as short
BloFin BTC-USDT	+0.0194%	8h	86,439.9	+0.110%	$415.1M	$658.6M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0199% / S −0.0223%	1h	86,434	+0.103%	$15.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0207%	8h	86,458	+0.131%	$10.0M	$750.9M	6.4x	as long as short
Deribit BTC-PERPETUAL	+0.0275%	1h	86,469.1	+0.144%	$912.2M	$1.49B	50x	as long as short