Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0101%/8h= −11.0% APRpaid last 24h −0.010%

Price spread now: Aster against Kraken Futures−0.027%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

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

costs, in and out, $10k−$190.189% of the position

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.047%−$5 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now −0.027%, 7d avg −0.016%

Together, before fees−0.035%+ Points / potential airdropAster: Stage 5 · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.016%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XBTUSD	85,270.1	0.0089	pay 0.0011% / 1h	39m 05s	$186.0M	$956.5M	100x
Short	Aster BTCUSDT	85,246.8	−0.0012	pay 0.0012% / 8h	1h 39m	$512.3M	$1.09B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$21.13
Price spread: −0.027% → −0.016%: −$1.11
Slippage, 4 orders: −$0.91
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$41.14
Costs to cover: 0.189%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Aster: 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 Kraken Futures live order book, 5 min ago	0.06 bp	5.1 bp −$5	6.1 bp −$61	7.6 bp −$764	9.9 bp −$4,944
Sell Aster live order book, 5 min ago	0.01 bp	4.0 bp −$4	4.0 bp −$40	5.4 bp −$539	8.5 bp −$4,273

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	−0.0082%	1h	85,287	+0.020%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,251	−0.022%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0047%	8h	85,246.8	−0.027%	$927.4M	$773.7M	125x	as long as short
BloFin BTC-USDT	−0.0027%	8h	85,238.9	−0.037%	$421.0M	$682.0M	150x	as long as short
Aster BTCUSDTshort	−0.0012%	8h	85,246.8	−0.027%	$512.3M	$1.09B	200x
dYdX BTC-USD	0.0000%	1h	85,277	+0.008%	$16.7M	$21.4M	50x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,243.2	−0.031%	$353K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,241.6	−0.033%	$532K	$18.3M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,249.1	−0.025%	$36.4M	—	200x	as long as short
Nado BTC-PERP	+0.0046%	1h	85,219.2	−0.060%	$24.4M	$222.6M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni BTCUSDT	+0.0049%	1h	85,297.3	+0.032%	$139.5M	$314.5M	100x	as long as short
Injective BTC/USDC PERP	+0.0057%	1h	85,247	−0.027%	$338K	$26.8M	52x	as long as short
BingX BTC-USDT	+0.0070%	8h	85,241.3	−0.034%	—	$1.56B	—	as long as short
Bitget BTCUSDT	+0.0088%	8h	85,237.5	−0.038%	$2.95B	$5.18B	150x	as long as short
Kraken Futures PF_XBTUSDlong	+0.0089%	1h	85,270.1	long leg	$186.0M	$956.5M	100x
MEXC BTC_USDT	+0.0092%	8h	85,242	−0.033%	$5.01B	$5.74B	500x	as long as short
Binance BTCUSDT	+0.0093%	8h	85,259.6	−0.012%	$9.42B	$24.97B	150x	as long as short
SoDEX BTC-USD	+0.0096%	1h	85,250	−0.024%	$59.7M	$336.9M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,267.2	−0.003%	$170.0M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,262.2	−0.009%	$23.5M	$147.9M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,232	−0.045%	$8.4M	$56.1M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,230.1	−0.047%	$2.4M	$6.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,206	−0.075%	$236K	$8.6M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,288.2	+0.021%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,316	+0.054%	$3.74B	$5.08B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,261.2	−0.010%	$40.2M	$604.4M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,241.2	−0.034%	$5.14B	$9.99B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,242.1	−0.033%	$2.59B	$12.25B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,223	−0.055%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,230.9	−0.046%	$4.9M	$99.3M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,278.8	+0.010%	$682.9M	$449.0M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,245	−0.029%	$5.50B	$10.99B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,240.1	−0.035%	$36.7M	$178.2M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,253.8	−0.019%	$154.6M	$558.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,273.1	+0.004%	$279.4M	$949.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,291	+0.025%	$214.2M	$166.1M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,254.7	−0.018%	$30.0M	$204.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,298.4	+0.033%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,237	−0.039%	$11.0M	$14.5M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,240	−0.035%	$200K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,238.1	−0.037%	$2.6M	$9.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,281.7	+0.014%	$193K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,216.4	−0.063%	$29.9M	$47.8M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,222	−0.056%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,250.8	−0.023%	$2.25B	$970.3M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,272.4	+0.003%	$150.8M	$509.0M	150x	as long as short
Deribit BTC-PERPETUAL	+0.0102%	1h	85,290	+0.023%	$868.8M	$1.64B	50x	as long as short
Extended BTC-USD	+0.0104%	1h	85,218	−0.061%	$44.8M	$240.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,242.2	−0.033%	—	$107.1M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,297	+0.032%	$117.2M	$5.46B	50x	as long as short
Reya BTCRUSDPERP	+0.0126%	1h	85,232.1	−0.044%	$6.6M	$147.6M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0175% / S −0.0152%	1h	85,266.1	−0.005%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0189%	8h	85,271	+0.001%	$11.7M	$742.5M	6.4x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,259.6	−0.012%	$8.7M	$43.1M	25x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,279.9	+0.012%	$684K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0257%	1h	85,311.9	+0.049%	$79K	$229K	20x	as long as short