Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0212%/8h= +23.2% APRpaid last 24h +0.031%

Price spread now: Aster against GMX−0.026%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. Aster is 0.026% cheaper against GMX than usual: you would sell low and buy high (spread −0.026% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 10 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX S/USD [WBTC.b-USDC]	0.03933	L −0.0191% / S +0.0185%	get 0.0024% / 1h	13m 10s	$1K	—	100x
Short	Aster SUSDT	0.03932	0.0021	get 0.0011% / 4h	2h 13m	$43K	$212K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GMX. 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 GMXbpFee AsterbpOrdersPrice spread, now −0.026%Rate

Funding earned: $44.56
Price spread: −0.026% → 0.000%: −$2.61
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: $21.95
Costs to cover: 0.200%
Break-even: 3.6 days

Slippage unknown: GMX: no order-book sample; Aster: live order book, 8 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 GMX no order-book sample	—	—	—	—	—
Sell Aster live order book, 8 min ago	10.19 bp	34.7 bp −$35	doesn't fit	doesn't fit	doesn't fit

GMX: 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.

S on 25 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
Kraken Futures PF_SUSD	−0.1452%	1h	0.03931	−0.034%	$33K	$30K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1264%	1h	0.03826	−2.716%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0878%	4h	0.03928	−0.127%	$611K	$34K	—	as long as short
GMX S/USD [WBTC.b-USDC]long	L −0.0191% / S +0.0185%	1h	0.03933	long leg	$1K	—	100x
Reya SRUSDPERP	−0.0101%	1h	0.03928	−0.114%	$4	—	15x	as long as short
Orderly PERP_S_USDC	−0.0011%	4h	0.03931	−0.046%	$99K	$343K	10x	as long as short
01 Exchange SUSD	0.0000%	1h	0.03930	−0.071%	$24K	$3K	5x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03933	−0.005%	$606	—	150x	as long as short
Aster SUSDTshort	+0.0021%	4h	0.03932	−0.026%	$43K	$212K	10x
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.251%	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.03934	+0.031%	$165K	$240K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03928	−0.114%	$993K	$900K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03929	−0.097%	$5.4M	$23.3M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03921	−0.300%	$5.6M	$6.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03927	−0.147%	$980K	$7.3M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03929	−0.097%	$321K	$292K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03929	−0.097%	$3.5M	$2.6M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03925	−0.198%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03933	+0.005%	$1.2M	$2.9M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03929	−0.097%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03940	+0.183%	$25K	$471K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03928	−0.118%	$221K	$883K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0258%	1h	0.03936	+0.081%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03934	+0.031%	$269K	$159K	75x	as long as short
Backpack S_USDC_PERP	+0.0389%	1h	0.03940	+0.183%	$115K	$294K	5x	as long as short