Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0058%/8h= −6.3% APRpaid last 24h −0.005%

Price spread now: Aster against BloFin+0.229%82s7-day average — · you sell dearer than you buy

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

Long on BloFin 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 airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.229% dearer against BloFin than usual: you sell high and buy low (spread +0.229% now, against zero (this spread has no 7-day history yet)): +$23 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 13 days. The two prices were read 82 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MTL-USDT	0.3112	0.0158	pay 0.0079% / 4h	2h 55m	$120K	$5K	50x
Short	Aster MTLUSDT	0.3119	0.0100	get 0.0013% / 1h	55m 56s	$2K	$8K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against BloFin. 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 BloFinbpFee AsterbpOrdersPrice spread, now +0.229%Rate

Funding earned: −$12.16
Price spread: +0.229% → 0.000%: $22.87
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$9.29
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: BloFin: live order book, 24 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 BloFin live order book, 24 min ago	1.61 bp	17.4 bp −$17	95.9 bp −$959	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.

MTL on 9 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
BingX MTL-USDT	+0.0036%	4h	0.3110	−0.064%	—	$1.3M	—	as long as short
Aster MTLUSDTshort	+0.0100%	1h	0.3119	+0.229%	$2K	$8K	5x
Binance MTLUSDT	+0.0100%	4h	0.3116	+0.136%	$1.8M	$3.5M	50x	as long as short
Gate MTL_USDT	+0.0100%	4h	0.3110	−0.064%	$167K	$37K	25x	as long as short
MEXC MTL_USDT	+0.0100%	4h	0.3110	−0.064%	$269K	$132K	50x	as long as short
KuCoin MTLUSDTM	+0.0100%	4h	0.3116	+0.129%	$661K	$26K	30x	as long as short
Bitget MTLUSDT	+0.0100%	4h	0.3111	−0.032%	$345K	$93K	25x	as long as short
BloFin MTL-USDTlong	+0.0158%	4h	0.3112	long leg	$120K	$5K	50x
Bybit MTLUSDT	+0.1757%	8h	0.3103	−0.289%	$1.0M	$688K	25x	as long as short