Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1283%/8h= −140.5% APRpaid last 24h −0.131%

Price spread now: Gate against Aster+0.115%7-day average −0.143% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$295as in the Price arb table

costs, in and out, $10k−$3213.206% of the position

Long on Aster Short on Gate

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.272%−$27 on $10k

Price spread, last 4 days (all we have)−0.608%−$61 · spread now +0.115%, 7d avg −0.143%

Together, before fees−0.880%+ Points / potential airdropAster: Stage 5 · farm board−$88 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.258% dearer against Aster than usual: you sell high and buy low (spread +0.115% now, against its 7-day average of −0.143%): +$26 on $10k if it goes back. Holding the pair costs −$38 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 5 days (−0.272% in total) that is about 5.1 days.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.272% in total (about -18.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MUSDT	1.4437	0.1383	pay 0.0691% / 4h	2h 51m	$14K	$115K	5x
Short	Gate M_USDT	1.4454	0.0100	get 0.0100% / 8h	6h 51m	$2.0M	$861K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Aster. 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 AsterbpFee GatebpOrdersPrice spread, now +0.115%Rate

Funding earned: −$269.43
Price spread: +0.115% → −0.143%: $25.83
Slippage, 4 orders: −$297.57
Fee Aster: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$564.17
Costs to cover: 3.206%
Break-even: never at this rate

Slippage from Aster: live order book, 14 min ago; Gate: live order book, 1 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, 14 min ago	14.90 bp	85.8 bp −$86	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	11.75 bp	65.6 bp −$66	doesn't fit	doesn't fit	doesn't fit

M on 12 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
Bybit MUSDT	+0.0100%	4h	1.4463	+0.178%	$4.5M	$1.9M	20x	as long as short
Gate M_USDTshort	+0.0100%	8h	1.4454	+0.115%	$2.0M	$861K	10x
Variational Omni M	+0.0100%	4h	1.4565	+0.885%	$90K	$43K	—	as long as short
Orderly PERP_M_USDC	+0.0100%	4h	1.4470	+0.226%	$2K	$496	10x	as long as short
SunX M-USDT	+0.0100%	4h	1.4496	+0.406%	$2K	$671K	20x	as long as short
Bitget MUSDT	+0.0210%	4h	1.4467	+0.205%	$1.9M	$243K	10x	as long as short
Aster MUSDTlong	+0.1383%	4h	1.4437	long leg	$14K	$115K	5x
BingX M-USDT	+0.1722%	4h	1.4470	+0.226%	—	$2.4M	—	as long as short
MEXC M_USDT	+0.1764%	4h	1.4473	+0.247%	$243K	$105K	50x	as long as short
Binance MUSDT	+0.1766%	4h	1.4454	+0.115%	$5.6M	$3.8M	10x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin M-USDT	+0.1816%	4h	1.4486	+0.337%	$359K	$429K	10x	as long as short
KuCoin MUSDTM	+0.3714%	4h	1.4338	−0.689%	$1.4M	$4.1M	10x	as long as short