Funding arb · Price arb /

UMA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Aster+0.051%7-day average — · you sell dearer than you buy

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 0.051% dearer against Aster than usual: you sell high and buy low, +$5 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 UMAUSDT	0.4045	0.0100	pay 0.0050% / 4h	3h 44m	$25K	$2K	5x
Short	Hyperliquid UMA	0.4047	0.0100	get 0.0013% / 1h	44m 59s	$214K	$73K	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 +0.051%Rate

Funding earned: $0
Price spread: +0.051% → 0.000%: $5.1
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$11.9
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; Hyperliquid: live order book, 4 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, 4 min ago	1.98 bp	26.9 bp −$27	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.

UMA 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 UMA-USDT	+0.0071%	4h	0.4043	−0.050%	$74K	$7K	50x	as long as short
Hyperliquid UMAshort	+0.0100%	1h	0.4047	+0.051%	$214K	$73K	3x
Aster UMAUSDTlong	+0.0100%	4h	0.4045	long leg	$25K	$2K	5x
Binance UMAUSDT	+0.0100%	4h	0.4046	+0.024%	$1.5M	$1.3M	50x	as long as short
Bybit UMAUSDT	+0.0100%	4h	0.4047	+0.048%	$674K	$171K	25x	as long as short
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4046	+0.024%	$314K	$243K	10x	as long as short
Gate UMA_USDT	+0.0100%	4h	0.4047	+0.048%	$79K	$46K	25x	as long as short
MEXC UMA_USDT	+0.0100%	4h	0.4045	−0.001%	$231K	$169K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4042	−0.075%	$164K	$61K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4049	+0.098%	$976K	$69K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX UMA-USDT	+0.0100%	4h	0.4044	−0.026%	—	$2.3M	—	as long as short
Variational Omni UMA	+0.0100%	4h	0.4048	+0.082%	$5K	$7	—	as long as short
Kraken Futures PF_UMAUSD	+0.0147%	1h	0.4051	+0.155%	$14K	$6K	10x	as long as short