Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.027%

Price spread now: Hyperliquid against Aster−0.087%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Hyperliquid

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 · Hyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.087% cheaper against Aster than usual: you would sell low and buy high, −$9 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	Aster TRBUSDT	19.209	0.0100	pay 0.0050% / 4h	1h 03m	$9K	$21K	5x
Short	Hyperliquid TRB	19.192	0.0100	get 0.0013% / 1h	3m 04s	$483K	$227K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Aster. 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 AsterbpFee HyperliquidbpOrdersPrice spread, now −0.087%Rate

Funding earned: $0
Price spread: −0.087% → 0.000%: −$8.74
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$25.74
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; Hyperliquid: live order book, 7 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 Aster no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 7 min ago	0.26 bp	21.9 bp −$22	doesn't fit	doesn't fit	doesn't fit

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.

TRB on 13 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
BloFin TRB-USDT	+0.0063%	4h	19.192	−0.087%	$358K	$174K	50x	as long as short
Hyperliquid TRBshort	+0.0100%	1h	19.192	−0.087%	$483K	$227K	3x
Aster TRBUSDTlong	+0.0100%	4h	19.209	long leg	$9K	$21K	5x
Binance TRBUSDT	+0.0100%	4h	19.193	−0.080%	$5.1M	$10.1M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.231	+0.116%	$6.3M	$1.9M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.210	+0.006%	$4.4M	$4.7M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.191	−0.093%	$14.6M	$927K	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.207	−0.009%	$1.1M	$300K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.201	−0.041%	$1.2M	$1.3M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.199	−0.051%	—	$16.5M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRB	+0.0100%	4h	19.127	−0.426%	$14K	$3K	—	as long as short
Gate TRB_USDT	+0.0308%	4h	19.240	+0.162%	$580K	$1.5M	50x	as long as short
Kraken Futures PF_TRBUSD	+0.1231%	1h	19.247	+0.199%	$102K	$98K	10x	as long as short