Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Aster against Hyperliquid−0.081%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.081% cheaper against Hyperliquid than usual: you would sell low and buy high, −$8 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid INIT	0.08149	0.0100	pay 0.0013% / 1h	25m 06s	$296K	$233K	3x
Short	Aster INITUSDT	0.08142	0.0100	get 0.0050% / 4h	1h 25m	$27K	$36K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 HyperliquidbpFee AsterbpOrdersPrice spread, now −0.081%Rate

Funding earned: $0
Price spread: −0.081% → 0.000%: −$8.08
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$25.08
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 45 min ago; Aster: no order-book sample. 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 Hyperliquid live order book, 45 min ago	1.23 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: 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.

INIT on 13 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
Hyperliquid INITlong	+0.0100%	1h	0.08149	long leg	$296K	$233K	3x
Aster INITUSDTshort	+0.0100%	4h	0.08142	−0.081%	$27K	$36K	5x
Binance INITUSDT	+0.0100%	4h	0.08152	+0.042%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08137	−0.142%	$1.4M	$1.4M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08154	+0.066%	$133K	$631K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08141	−0.093%	$83K	$56K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08151	+0.029%	$452K	$218K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08146	−0.032%	$324K	$54K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08146	−0.032%	$425K	$310K	25x	as long as short
BingX INIT-USDT	+0.0100%	4h	0.08140	−0.106%	—	$6.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni INIT	+0.0100%	4h	0.08133	−0.186%	$26K	$23K	—	as long as short
BloFin INIT-USDT	+0.0128%	4h	0.08150	+0.017%	$153K	$109K	25x	as long as short
Kraken Futures PF_INITUSD	+0.0386%	1h	0.08157	+0.107%	$6K	$17K	10x	as long as short