Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0165%/8h= +18.1% APRpaid last 24h +0.048%

Price spread now: Aster against Hotstuff−0.007%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hotstuff Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · Aster: Stage 5 · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff ETH-PERP	2,732.7	−0.0080	get 0.0010% / 1h	6m 35s	$5K	$1K	50x
Short	Aster ETHUSDT	2,732.5	0.0085	get 0.0085% / 8h	4h 06m	$250.9M	$841.9M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hotstuff. 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 HotstuffbpFee AsterbpOrdersPrice spread, now −0.007%Rate

Funding earned: $34.7
Price spread: −0.007% → 0.000%: −$0.69
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: $21.01
Costs to cover: 0.130%
Break-even: 2.8 days

Slippage unknown: Hotstuff: no order-book sample; Aster: live order book, 3 min ago. Net counts fees only.

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 Hotstuff no order-book sample	—	—	—	—	—
Sell Aster live order book, 3 min ago	0.02 bp	4.5 bp −$5	5.0 bp −$50	6.8 bp −$684	11.5 bp −$5,759

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0447%	43m	2,732.7	0.000%	$297K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,734.2	+0.055%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERPlong	−0.0080%	1h	2,732.7	long leg	$5K	$1K	50x
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,733.3	+0.022%	$11.9M	—	200x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,732.8	+0.004%	$187K	$822K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,735.7	+0.110%	$828K	$2.9M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,733	+0.011%	$10.7M	$41.9M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,733.4	+0.025%	$28.1M	—	200x	as long as short
Bullet ETH-USD	+0.0013%	1h	2,732.8	+0.003%	$179K	$1.7M	20x	as long as short
HTX ETH-USDT	+0.0023%	8h	2,732.1	−0.023%	$1.06B	$1.20B	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDC	+0.0046%	8h	2,732.2	−0.020%	—	$18.4M	—	as long as short
Bybit ETHUSDT	+0.0055%	8h	2,732	−0.027%	$2.38B	$4.35B	150x	as long as short
ApeX Omni ETHUSDT	+0.0055%	1h	2,734.1	+0.049%	$8.7M	$31.3M	100x	as long as short
KuCoin ETHUSDTM	+0.0066%	8h	2,732.1	−0.020%	$380.1M	$573.5M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0074%	8h	2,732.2	−0.020%	$1.67B	$10.70B	100x	as long as short
Phemex ETHUSDT	+0.0078%	8h	2,732.9	+0.008%	$265.6M	$65.2M	150x	as long as short
Aster ETHUSDTshort	+0.0085%	8h	2,732.5	−0.007%	$250.9M	$841.9M	200x
MEXC ETH_USDT	+0.0094%	8h	2,732.2	−0.018%	$1.55B	$2.57B	500x	as long as short
Deribit ETH-PERPETUAL	+0.0094%	1h	2,734.3	+0.058%	$259.7M	$196.2M	50x	as long as short
Binance ETHUSDT	+0.0094%	8h	2,732.2	−0.018%	$6.35B	$15.87B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,732.4	−0.010%	$112.7M	$441.6M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,733.7	+0.037%	$23.5M	$106.7M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,733.4	+0.026%	—	$30.9M	500x	as long as short
Aevo ETH-PERP	+0.0096%	1h	2,730.5	−0.082%	$4.9M	$155K	20x	as long as short
Paradex ETH-USD-PERP	+0.0099%	8h	2,736.1	+0.123%	$15.5M	$8.0M	50x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,732.8	+0.003%	$5.6M	$11.6M	25x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,732.2	−0.018%	$498K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,732.6	−0.004%	$13.6M	$104.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,734.6	+0.070%	$3.10B	$2.05B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,733.2	+0.018%	$32.0M	$335.0M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,732.3	−0.015%	$2.7M	$16.7M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,732.8	+0.005%	$1.6M	$16.0M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,732.1	−0.021%	$3.34B	$8.93B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,732.5	−0.008%	$2.07B	$2.73B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,732.4	−0.011%	$15.0M	$39.6M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,733.2	+0.019%	$133.8M	$324.8M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,733.8	+0.039%	$183.9M	$670.5M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,733.4	+0.024%	$159.0M	$86.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,734.8	+0.077%	$21.1M	$68.4M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,733.7	+0.037%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,734.4	+0.062%	$11.2M	$9.3M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,733.4	+0.026%	$21K	$20K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,734.7	+0.074%	$41.3M	$29.8M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,731.6	−0.039%	$959K	$11.3M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,732.9	+0.007%	$54.4M	$187.6M	40x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,732.6	−0.003%	$165.4M	$300.2M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,731.4	−0.047%	$30.4M	$72.8M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,734.1	+0.051%	$51.3M	$4.27B	50x	as long as short
Aftermath Perps ETHUSD	+0.0120%	1h	2,734	+0.048%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0132%	8h	2,733.2	+0.018%	$6.7M	$678.5M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0197%	8h	2,735.6	+0.106%	$32.2M	$11.7M	100x	as long as short
Reya ETHRUSDPERP	+0.0217%	1h	2,732.1	−0.023%	$7.3M	$1.2M	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,733.6	+0.031%	$83.2M	$314.8M	100x	as long as short
Hibachi ETH/USDT-P	+0.0272%	1h	2,736.1	+0.126%	$249K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0378%	8h	2,733	+0.012%	$282.9M	$175.6M	150x	as long as short