Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.006%

Price spread now: Aster against Hyperliquid+0.065%7-day average — · you sell dearer than you buy

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 0.065% dearer against Hyperliquid than usual: you sell high and buy low, +$6 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 STABLE	0.02474	0.0100	pay 0.0013% / 1h	58m 49s	$869K	$187K	3x
Short	Aster STABLEUSDT	0.02476	0.0100	get 0.0050% / 4h	58m 49s	$19K	$8K	20x

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 +0.065%Rate

Funding earned: $0
Price spread: +0.065% → 0.000%: $6.47
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$10.53
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 41 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, 41 min ago	2.01 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.

STABLE on 15 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
Lighter STABLE	+0.0096%	1h	0.02486	+0.485%	$114K	$6K	3x	as long as short
Hyperliquid STABLElong	+0.0100%	1h	0.02474	long leg	$869K	$187K	3x
Aster STABLEUSDTshort	+0.0100%	4h	0.02476	+0.065%	$19K	$8K	20x
Binance STABLEUSDT	+0.0100%	4h	0.02474	−0.025%	$2.6M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02475	+0.024%	$1.5M	$763K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02473	−0.057%	$197K	$372K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02475	+0.024%	$174K	$56K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02473	−0.057%	$612K	$155K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02482	+0.307%	$184K	$28K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02474	−0.016%	$284K	$90K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02474	−0.016%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02482	+0.308%	$145K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02473	−0.069%	$1K	$843K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02473	−0.072%	$14K	$136K	10x	as long as short
BloFin STABLE-USDT	+0.0110%	4h	0.02481	+0.267%	$119K	$7K	75x	as long as short