Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.012%

Price spread now: Aster against Deribit−0.013%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−$43as in the Price arb table

costs, in and out, $10k−$390.391% of the position

Long on Deribit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.215%+$22 on $10k

Price spread, last 4 days (all we have)+0.017%+$2 · spread now −0.013%, 7d avg +0.031%

Together, before fees+0.232%+ Points / potential airdropAster: Stage 5 · farm board+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.044% cheaper against Deribit than usual: you would sell low and buy high (spread −0.013% now, against its 7-day average of +0.031%). If the spread goes back, that is −$4 on $10k: about 3.7 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.215% in total) that is about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit LINK_USDC-PERPETUAL	12.887	0.0060	pay 0.0008% / 1h	40m 29s	$806K	$268K	50x
Short	Aster LINKUSDT	12.886	0.0100	get 0.0100% / 8h	7h 40m	$1.2M	$2.4M	50x

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 −0.013%Rate

Funding earned: $8.4
Price spread: −0.013% → +0.031%: −$4.39
Slippage, 4 orders: −$24.09
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$35.07
Costs to cover: 0.391%
Break-even: 36.2 days

Slippage from Deribit: live order book, 58 min ago; Aster: 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 Deribit live order book, 58 min ago	3.10 bp	6.6 bp −$7	15.2 bp −$152	doesn't fit	doesn't fit
Sell Aster live order book, 3 min ago	1.94 bp	9.6 bp −$10	16.6 bp −$166	doesn't fit	doesn't fit

LINK on 40 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
Orderly PERP_LINK_USDC	−0.0111%	8h	12.876	−0.089%	$90K	$988K	20x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0087% / S +0.0165%	1h	12.900	+0.094%	$1.7M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.896	+0.063%	$514K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0005%	1h	12.881	−0.053%	$155K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−3.783%	$4K	$48K	12x	as long as short
Kraken Futures PF_LINKUSD	+0.0049%	1h	12.884	−0.025%	$6.4M	$8.4M	50x	as long as short
Deribit LINK_USDC-PERPETUALlong	+0.0060%	1h	12.887	long leg	$806K	$268K	50x
Phoenix LINK	+0.0087%	1h	12.905	+0.132%	$3K	$85K	10x	as long as short
Lighter LINK	+0.0096%	1h	12.888	0.000%	$1.9M	$2.8M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	12.887	−0.003%	$31K	$2K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	12.882	−0.045%	$348K	$335K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	12.894	+0.050%	$80.5M	$28.1M	10x	as long as short
Aster LINKUSDTshort	+0.0100%	8h	12.886	−0.013%	$1.2M	$2.4M	50x
Pacifica LINK	+0.0100%	1h	12.888	+0.001%	$274K	$182K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.886	−0.013%	$118.9M	$297.4M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.882	−0.043%	$83.4M	$73.1M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.882	−0.043%	$27.1M	$79.9M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	12.900	+0.097%	$180K	$98K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.885	−0.019%	$133.6M	$17.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.887	−0.004%	$35.7M	$58.3M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.892	+0.035%	$22.9M	$12.2M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.886	−0.012%	$53.8M	$29.9M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	12.887	−0.004%	—	$6.6M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	12.888	+0.004%	$335K	$385K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	12.875	−0.094%	$3.3M	$1.8M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	12.914	+0.208%	$43K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	12.894	+0.051%	$582K	$3.0M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	12.917	+0.229%	$132K	$671K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	12.887	−0.004%	$82K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.880	−0.057%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	12.897	+0.071%	$33K	$1.4M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	12.880	−0.058%	$10K	$61K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.871	−0.129%	$629K	$721K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.879	−0.069%	$617K	$2.0M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.882	−0.046%	$540K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0184%	1h	12.924	+0.283%	$930K	$3.2M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.886	−0.012%	$5.2M	$15.9M	75x	as long as short
Reya LINKRUSDPERP	+0.0403%	1h	12.878	−0.073%	$4K	—	20x	as long as short
Phemex LINKUSDT	+0.0531%	8h	12.898	+0.081%	$19.9M	$11.5M	50x	as long as short
dYdX LINK-USD	+0.1183%	1h	12.888	+0.008%	$344K	$46K	10x	as long as short