Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0038%/8h= +4.2% APRpaid last 24h 0.000%

Price spread now: Deribit against Aster+0.062%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$180.176% of the position

Long on Aster Short on Deribit

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)−0.043%−$4 · spread now +0.062%, 7d avg +0.031%

Together, before fees−0.019%+ Points / potential airdropAster: Stage 5 · farm board−$2 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 Deribit is 0.030% dearer against Aster than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ETHUSDT	2,772.5	0.0033	pay 0.0033% / 8h	16m 10s	$255.9M	$1.00B	200x
Short	Deribit ETH-PERPETUAL	2,774.2	0.0071	get 0.0009% / 1h	16m 10s	$259.0M	$222.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.062%Rate

Funding earned: $8.03
Price spread: +0.062% → +0.031%: $3.05
Slippage, 4 orders: −$2.56
Fee Aster: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$6.48
Costs to cover: 0.176%
Break-even: 12.6 days

Slippage from Aster: live order book, 3 min ago; Deribit: live order book, 3 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, 3 min ago	0.27 bp	4.3 bp −$4	4.4 bp −$44	6.7 bp −$670	12.3 bp −$6,158
Sell Deribit live order book, 3 min ago	0.09 bp	4.1 bp −$4	5.0 bp −$50	12.0 bp −$1,197	22.3 bp −$11.1K

ETH 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
Perpl ETH	−0.0223%	43m	2,772.5	0.000%	$286K	$6.9M	8.3x	as long as short
RISEx ETH/USDC	−0.0206%	1h	2,773	+0.018%	$5.6M	$11.9M	25x	as long as short
Injective ETH/USDC PERP	−0.0088%	1h	2,762.1	−0.373%	$119K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,772.9	+0.016%	$5K	$2K	50x	as long as short
ApeX Omni ETHUSDT	−0.0026%	1h	2,773	+0.020%	$8.8M	$32.9M	100x	as long as short
01 Exchange ETHUSD	−0.0008%	1h	2,773.4	+0.034%	$168K	$1.2M	50x	as long as short
dYdX ETH-USD	0.0000%	1h	2,773.5	+0.037%	$12.7M	$45.9M	50x	as long as short
Phoenix ETH	+0.0003%	1h	2,769.9	−0.092%	$876K	$3.7M	25x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,772.9	+0.015%	$22.4M	—	200x	as long as short
OKX ETH-USDT-SWAP	+0.0022%	8h	2,772.6	+0.004%	$1.70B	$11.89B	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX ETH/USD [ETH-USDC]	L +0.0026% / S +0.0009%	1h	2,772.8	+0.011%	$12.8M	—	200x	as long as short
Aftermath Perps ETHUSD	+0.0026%	1h	2,772.4	0.000%	$29K	$22K	20x	as long as short
Phemex ETHUSDT	+0.0030%	8h	2,772.3	−0.005%	$270.3M	$68.9M	150x	as long as short
Aster ETHUSDTlong	+0.0033%	8h	2,772.5	long leg	$255.9M	$1.00B	200x
SoDEX ETH-USD	+0.0040%	1h	2,772.5	+0.002%	$55.2M	$229.0M	40x	as long as short
Bullet ETH-USD	+0.0043%	1h	2,772.2	−0.009%	$181K	$1.7M	20x	as long as short
Aevo ETH-PERP	+0.0056%	1h	2,770.1	−0.086%	$5.0M	$636K	20x	as long as short
MEXC ETH_USDT	+0.0057%	8h	2,772.5	+0.002%	$1.62B	$2.66B	500x	as long as short
Binance ETHUSDT	+0.0058%	8h	2,772.4	−0.002%	$6.46B	$17.31B	150x	as long as short
Bitget ETHUSDT	+0.0065%	8h	2,772.5	+0.003%	$2.10B	$3.10B	150x	as long as short
Gate ETH_USDT	+0.0068%	8h	2,772.6	+0.005%	$3.29B	$9.68B	200x	as long as short
Deribit ETH-PERPETUALshort	+0.0071%	1h	2,774.2	+0.062%	$259.0M	$222.4M	50x
KuCoin ETHUSDTM	+0.0081%	8h	2,772.5	0.000%	$421.2M	$739.2M	100x	as long as short
BingX ETH-USDT	+0.0088%	8h	2,772.6	+0.004%	—	$1.24B	—	as long as short
Coinbase International ETH-PERP-INTX	+0.0088%	1h	2,773.9	+0.053%	$60.3M	$4.60B	50x	as long as short
Bybit ETHUSDT	+0.0088%	8h	2,772.7	+0.009%	$2.51B	$4.63B	150x	as long as short
Vest ETH-PERP	+0.0094%	1h	2,773.2	+0.028%	—	$1.1M	50x	as long as short
HTX ETH-USDT	+0.0095%	8h	2,772.2	−0.008%	$1.08B	$1.32B	200x	as long as short
Lighter ETH	+0.0096%	1h	2,773.1	+0.022%	$115.2M	$500.2M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,774.5	+0.074%	$25.3M	$121.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,773.2	+0.026%	—	$43.4M	500x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,773	+0.021%	$15.9M	$10.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,772.6	+0.005%	$476K	$2.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,772.6	+0.007%	$14.3M	$118.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,775	+0.092%	$3.17B	$2.36B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,773.6	+0.040%	$31.3M	$315.2M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,772.8	+0.013%	$2.8M	$17.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,773.9	+0.052%	$2.7M	$17.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,773	+0.018%	$170.1M	$265.7M	25x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,772.6	+0.004%	$15.1M	$44.3M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,772.7	+0.010%	$147.4M	$335.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,771.2	−0.046%	$181.9M	$784.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,773	+0.019%	$161.2M	$89.9M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,771.2	−0.045%	$21.4M	$58.5M	40x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,773	+0.020%	$10.6M	$8.0M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,773.3	+0.030%	$21K	$24K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,772.1	−0.012%	$972K	$13.9M	100x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,774.5	+0.073%	$42.7M	$29.4M	15x	as long as short
Extended ETH-USD	+0.0104%	1h	2,771.9	−0.021%	$32.5M	$78.2M	50x	as long as short
Kalshi KXETHPERP	+0.0112%	8h	2,773.5	+0.038%	$8.3M	$687.6M	4.9x	as long as short
Kraken Futures PF_ETHUSD	+0.0123%	1h	2,773.8	+0.050%	$89.1M	$337.3M	100x	as long as short
Orderly PERP_ETH_USDC	+0.0142%	8h	2,774.7	+0.082%	$32.6M	$12.2M	100x	as long as short
BloFin ETH-USDT	+0.0178%	8h	2,772.1	−0.013%	$286.4M	$194.7M	150x	as long as short
Reya ETHRUSDPERP	+0.0204%	1h	2,772.5	+0.003%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0216%	1h	2,772.2	−0.010%	$252K	$1.6M	20x	as long as short