Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h −0.014%

Price spread now: Aster against StandX−0.043%48s7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$190.191% of the position

Long on StandX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.056%−$6 on $10k

Price spread, last 7 days+0.043%+$4 · spread now −0.043%, 7d avg +0.005%

Together, before fees−0.014%+ Points / potential airdropStandX: Active · Aster: Stage 5 · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Aster is 0.048% cheaper against StandX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.005%). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX BTC-USD	85,679.3	0.0100	pay 0.0013% / 1h	53m 35s	$30.3M	$207.7M	40x
Short	Aster BTCUSDT	85,642.6	0.0016	get 0.0016% / 8h	4h 53m	$516.1M	$1.10B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against StandX. 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 StandXbpFee AsterbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$17.58
Price spread: −0.043% → +0.005%: −$4.78
Slippage, 4 orders: −$3.07
Fee StandX: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$41.43
Costs to cover: 0.191%
Break-even: never at this rate

Slippage from StandX: live order book, 1 min ago; Aster: live order book, 6 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 StandX live order book, 1 min ago	0.99 bp	5.7 bp −$6	7.0 bp −$70	8.0 bp −$801	9.5 bp −$4,773
Sell Aster live order book, 6 min ago	0.01 bp	4.0 bp −$4	4.4 bp −$44	6.6 bp −$657	12.5 bp −$6,261

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
Bluefin BTC-PERP	−0.3448%	1h	85,692.3	+0.015%	$194K	$725K	40x	as long as short
Phoenix BTC	−0.0160%	1h	85,659	−0.024%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,678	−0.001%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,649.4	−0.035%	$370K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0032%	8h	85,685.9	+0.008%	$417.6M	$666.0M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,669.4	−0.012%	$16.7M	$21.2M	50x	as long as short
KuCoin XBTUSDTM	0.0000%	8h	85,641.5	−0.044%	$920.0M	$750.0M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,678.8	−0.001%	$36.6M	—	200x	as long as short
Aster BTCUSDTshort	+0.0016%	8h	85,642.6	−0.043%	$516.1M	$1.10B	200x
Arcus BTC-USD	+0.0021%	1h	85,636.5	−0.050%	$6.9M	$97.1M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado BTC-PERP	+0.0040%	1h	85,676.7	−0.003%	$22.6M	$218.8M	50x	as long as short
BingX BTC-USDT	+0.0058%	8h	85,650.6	−0.033%	—	$1.53B	—	as long as short
ApeX Omni BTCUSDT	+0.0059%	1h	85,584.6	−0.110%	$139.9M	$315.1M	100x	as long as short
Bitget BTCUSDT	+0.0074%	8h	85,648.8	−0.036%	$2.96B	$5.01B	150x	as long as short
Reya BTCRUSDPERP	+0.0076%	1h	85,670.1	−0.011%	$6.7M	$146.6M	40x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,651.8	−0.032%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0088%	8h	85,650.1	−0.034%	$5.05B	$5.57B	500x	as long as short
Binance BTCUSDT	+0.0089%	8h	85,649.5	−0.035%	$9.34B	$23.96B	150x	as long as short
SoDEX BTC-USD	+0.0089%	1h	85,656	−0.027%	$60.0M	$336.1M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,657.6	−0.025%	$174.3M	$999.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,664.5	−0.017%	$23.8M	$148.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,675	−0.005%	$8.4M	$52.5M	100x	as long as short
Phemex BTCUSDT	+0.0098%	8h	85,663.7	−0.018%	$150.6M	$482.8M	150x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,693.3	+0.016%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,630	−0.057%	$198K	$7.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,730	+0.059%	$3.75B	$4.96B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,682.5	+0.004%	$40.1M	$576.9M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,653.2	−0.030%	$5.33B	$9.57B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,656.8	−0.026%	$2.58B	$12.09B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,672	−0.008%	$3.9M	$18.0M	25x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,696.6	+0.020%	$648.3M	$574.6M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,653.2	−0.030%	$5.54B	$10.53B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,648.7	−0.036%	$36.1M	$175.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,690.1	+0.013%	$156.8M	$560.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,589.3	−0.105%	$279.5M	$917.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,627.1	−0.061%	$215.0M	$164.8M	50x	as long as short
StandX BTC-USDlong	+0.0100%	1h	85,679.3	long leg	$30.3M	$207.7M	40x
Vest BTC-PERP	+0.0100%	1h	85,731.3	+0.061%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,674	−0.006%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,666.8	−0.015%	$194K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,646.1	−0.039%	$2.4M	$8.7M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,649.9	−0.034%	$30.0M	$51.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,667.8	−0.013%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,684.1	+0.006%	$2.27B	$938.0M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,623.9	−0.065%	$44.5M	$226.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,711.6	+0.038%	—	$106.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,703.8	+0.029%	$117.6M	$5.14B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,742	+0.073%	$340K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,681.5	+0.003%	$189.1M	$951.8M	100x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0177% / S −0.0151%	1h	85,673.4	−0.007%	$13.4M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0184%	1h	85,717.3	+0.044%	$703K	$7.8M	30x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,681.8	+0.003%	$8.4M	$42.4M	25x	as long as short
Aftermath Perps BTCUSD	+0.0201%	1h	85,701.3	+0.026%	$78K	$219K	20x	as long as short
Deribit BTC-PERPETUAL	+0.0215%	1h	85,706.8	+0.032%	$892.2M	$1.53B	50x	as long as short
Kalshi KXBTCPERP	+0.0219%	8h	85,721	+0.049%	$10.7M	$759.1M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,709.6	+0.035%	$494K	$18.9M	6.7x	as long as short