Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0082%/8h= +8.9% APRpaid last 24h −0.010%

Price spread now: Aster against Deribit−0.072%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

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

costs, in and out, $10k−$150.154% of the position

Long on Deribit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 4 days (all we have)+0.062%+$6 · spread now −0.072%, 7d avg −0.031%

Together, before fees+0.032%+ Points / potential airdropAster: Stage 5 · farm board+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.041% cheaper against Deribit than usual: you would sell low and buy high (spread −0.072% now, against its 7-day average of −0.031%). If the spread goes back, that is −$4 on $10k: about 40 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ETH-PERPETUAL	2,732.8	0	get 0.0000% / 1h	43m 37s	$262.4M	$211.9M	50x
Short	Aster ETHUSDT	2,730.8	0.0082	get 0.0082% / 8h	43m 37s	$252.9M	$849.3M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Deribit. 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 DeribitbpFee AsterbpOrdersPrice spread, now −0.072%Rate

Funding earned: $17.12
Price spread: −0.072% → −0.031%: −$4.1
Slippage, 4 orders: −$0.41
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$2.39
Costs to cover: 0.154%
Break-even: 8.0 days

Slippage from Deribit: 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 Deribit live order book, 1 min ago	0.09 bp	3.6 bp −$4	5.3 bp −$53	10.6 bp −$1,055	18.0 bp −$8,994
Sell Aster live order book, 6 min ago	0.02 bp	4.0 bp −$4	4.1 bp −$41	4.8 bp −$484	10.2 bp −$5,102

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
BloFin ETH-USDT	−0.0175%	8h	2,731.1	−0.061%	$281.2M	$177.9M	150x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,732.1	−0.024%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0015%	1h	2,730.5	−0.082%	$811K	$3.0M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,732.7	−0.002%	$11.9M	—	200x	as long as short
dYdX ETH-USD	0.0000%	1h	2,732.9	+0.007%	$10.5M	$42.6M	50x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,732.2	−0.020%	$6.3M	$680.6M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,731.9	−0.031%	$286K	$5.7M	8.3x	as long as short
Deribit ETH-PERPETUALlong	0.0000%	1h	2,732.8	long leg	$262.4M	$211.9M	50x
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,732.8	+0.001%	$33.0M	—	200x	as long as short
BingX ETH-USDC	+0.0019%	8h	2,730.2	−0.095%	—	$18.6M	—	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ETHUSDT	+0.0024%	8h	2,730.7	−0.076%	$2.33B	$4.36B	150x	as long as short
HTX ETH-USDT	+0.0029%	8h	2,731.3	−0.053%	$1.05B	$1.22B	200x	as long as short
01 Exchange ETHUSD	+0.0032%	1h	2,731.7	−0.038%	$191K	$889K	50x	as long as short
Injective ETH/USDC PERP	+0.0050%	1h	2,732.8	+0.002%	$117K	$20.2M	52x	as long as short
ApeX Omni ETHUSDT	+0.0057%	1h	2,731.2	−0.056%	$8.6M	$31.6M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0060%	1h	2,732.1	−0.023%	$82.0M	$309.2M	100x	as long as short
KuCoin ETHUSDTM	+0.0071%	8h	2,730.7	−0.074%	$384.8M	$576.8M	100x	as long as short
Hibachi ETH/USDT-P	+0.0072%	1h	2,733.2	+0.018%	$242K	$1.4M	20x	as long as short
OKX ETH-USDT-SWAP	+0.0075%	8h	2,730.7	−0.075%	$1.65B	$10.85B	100x	as long as short
Aster ETHUSDTshort	+0.0082%	8h	2,730.8	−0.072%	$252.9M	$849.3M	200x
MEXC ETH_USDT	+0.0094%	8h	2,731	−0.065%	$1.56B	$2.56B	500x	as long as short
Binance ETHUSDT	+0.0094%	8h	2,731	−0.066%	$6.32B	$16.14B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,731.7	−0.040%	$112.6M	$429.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,732.7	−0.003%	$23.5M	$102.0M	50x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,730	−0.100%	$4.9M	$181K	20x	as long as short
Phemex ETHUSDT	+0.0099%	8h	2,731.8	−0.035%	$263.3M	$64.5M	150x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,730.5	−0.082%	$499K	$3.5M	50x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,735.2	+0.089%	$15.4M	$7.8M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,731.6	−0.044%	$14.0M	$104.9M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,733.5	+0.026%	$3.11B	$2.04B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,732	−0.027%	$32.1M	$333.6M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,730.1	−0.097%	$2.7M	$16.8M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,731.8	−0.036%	$1.5M	$15.9M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,729.5	−0.118%	$162.7M	$356.9M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,731.2	−0.056%	$3.31B	$8.86B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,731	−0.064%	$2.10B	$2.77B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,731	−0.065%	$15.0M	$41.2M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,731.6	−0.041%	$134.1M	$318.3M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,731.7	−0.038%	$185.7M	$684.0M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,732	−0.027%	$158.8M	$83.6M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,732.1	−0.024%	$21.0M	$70.6M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,733.6	+0.030%	—	$445K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,733.3	+0.020%	$11.2M	$9.4M	50x	as long as short
Bullet ETH-USD	+0.0100%	1h	2,732.4	−0.013%	$184K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,732.6	−0.007%	$22K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,732.6	−0.007%	$40.9M	$30.1M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,730.8	−0.072%	$957K	$10.9M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,731.4	−0.049%	$54.4M	$187.1M	40x	as long as short
Aftermath Perps ETHUSD	+0.0101%	1h	2,732.1	−0.025%	$30K	$20K	20x	as long as short
Extended ETH-USD	+0.0104%	1h	2,730.1	−0.097%	$30.4M	$72.5M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0104% / S +0.0056%	1h	2,732	−0.027%	—	$30.4M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,732.9	+0.004%	$46.5M	$4.30B	50x	as long as short
RISEx ETH/USDC	+0.0114%	1h	2,731.4	−0.050%	$5.6M	$11.7M	25x	as long as short
Reya ETHRUSDPERP	+0.0184%	1h	2,730.9	−0.067%	$7.3M	$975K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0184%	8h	2,734.6	+0.068%	$32.2M	$11.3M	100x	as long as short