Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.015%

Price spread now: Aster against Backpack−0.037%45s7-day average +0.040% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$750.746% of the position

Long on Backpack Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.080%+$8 on $10k

Price spread, last 4 days (all we have)+0.463%+$46 · spread now −0.037%, 7d avg +0.040%

Together, before fees+0.543%+ Points / potential airdropAster: Stage 5 · farm board+$54 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.077% cheaper against Backpack than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.040%. The two prices were read 45 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	Backpack TIA_USDC_PERP	0.4480	0.0100	pay 0.0013% / 1h	40m 27s	$103K	$175K	10x
Short	Aster TIAUSDT	0.4478	0.0100	get 0.0050% / 4h	3h 40m	$33K	$249K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Backpack. 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 BackpackbpFee AsterbpOrdersPrice spread, now −0.037%Rate

Funding earned: $0
Price spread: −0.037% → +0.040%: −$7.72
Slippage, 4 orders: −$56.62
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$82.34
Costs to cover: 0.746%
Break-even: never at this rate

Slippage from Backpack: live order book, 58 min ago; Aster: live order book, 56 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 Backpack live order book, 58 min ago	1.25 bp	12.9 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 56 min ago	6.78 bp	29.6 bp −$30	doesn't fit	doesn't fit	doesn't fit

TIA on 27 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
GMX TIA/USD [ETH-USDC]	L −0.2252% / S +0.0123%	1h	0.4480	+0.013%	$6K	—	100x	as long as short
Kraken Futures PF_TIAUSD	−0.0112%	1h	0.4478	−0.030%	$354K	$224K	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4482	+0.054%	$31K	$25K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4481	+0.027%	$1K	—	150x	as long as short
OKX TIA-USDT-SWAP	+0.0030%	4h	0.4476	−0.080%	$2.8M	$7.0M	50x	as long as short
Injective TIA/USDC PERP	+0.0048%	1h	0.4487	+0.165%	$24K	$12K	12x	as long as short
dYdX TIA-USD	+0.0068%	1h	0.4482	+0.059%	$53K	$139	10x	as long as short
Lighter TIA	+0.0096%	1h	0.4489	+0.201%	$194K	$469K	10x	as long as short
ApeX Omni TIAUSDT	+0.0098%	1h	0.4476	−0.080%	$51K	$224K	50x	as long as short
Orderly PERP_TIA_USDC	+0.0099%	4h	0.4480	+0.009%	$7K	$222K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TIA	+0.0100%	1h	0.4485	+0.123%	$4.9M	$1.5M	5x	as long as short
Aster TIAUSDTshort	+0.0100%	4h	0.4478	−0.037%	$33K	$249K	10x
Binance TIAUSDT	+0.0100%	4h	0.4479	−0.013%	$14.4M	$49.1M	75x	as long as short
Bybit TIAUSDT	+0.0100%	4h	0.4477	−0.058%	$10.2M	$14.5M	50x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4481	+0.031%	$1.0M	$1.9M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4478	−0.036%	$11.8M	$14.4M	300x	as long as short
KuCoin TIAUSDTM	+0.0100%	4h	0.4478	−0.036%	$4.3M	$10.1M	50x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4477	−0.058%	$4.4M	$4.1M	75x	as long as short
BingX TIA-USDC	+0.0100%	4h	0.4477	−0.058%	—	$6.5M	—	as long as short
Backpack TIA_USDC_PERPlong	+0.0100%	1h	0.4480	long leg	$103K	$175K	10x
Variational Omni TIA	+0.0100%	4h	0.4475	−0.108%	$137K	$79K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4479	−0.013%	$60K	$76K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4472	−0.173%	$57K	$211K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4480	+0.004%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0182%	1h	0.4475	−0.111%	$6K	—	15x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4476	−0.080%	$1.7M	$783K	75x	as long as short
Coinbase International TIA-PERP-INTX	+0.0416%	1h	0.4500	+0.455%	$53K	$107K	50x	as long as short