Funding arb · Price arb /

VIRTUAL

all VIRTUAL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.019%

Price spread now: Hyperliquid against Aster+0.020%7-day average +0.046% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$550.548% of the position

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.016%+$2 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now +0.020%, 7d avg +0.046%

Together, before fees+0.048%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board+$5 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: Hyperliquid is 0.026% cheaper against Aster than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster VIRTUALUSDT	0.7173	0.0100	pay 0.0050% / 4h	8m 59s	$96K	$293K	20x
Short	Hyperliquid VIRTUAL	0.7174	0.0100	get 0.0013% / 1h	8m 59s	$8.8M	$4.1M	5x

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 +0.020%Rate

Funding earned: $0
Price spread: +0.020% → +0.046%: −$2.56
Slippage, 4 orders: −$37.77
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$57.33
Costs to cover: 0.548%
Break-even: never at this rate

Slippage from Aster: live order book, 48 min ago; Hyperliquid: live order book, 3 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 Aster live order book, 48 min ago	11.15 bp	16.0 bp −$16	127.8 bp −$1,278	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	0.35 bp	8.6 bp −$9	doesn't fit	doesn't fit	doesn't fit

VIRTUAL on 33 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
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7172	−0.009%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0072%	1h	0.7171	−0.027%	$2K	$131	10x	as long as short
Phoenix VIRTUAL	−0.0034%	1h	0.7173	+0.001%	$11K	$37K	5x	as long as short
Lighter VIRTUAL	−0.0032%	1h	0.7165	−0.112%	$326K	$415K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7172	−0.012%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−0.780%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0091%	4h	0.7172	−0.013%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUALshort	+0.0100%	1h	0.7174	+0.020%	$8.8M	$4.1M	5x
Aster VIRTUALUSDTlong	+0.0100%	4h	0.7173	long leg	$96K	$293K	20x
Pacifica VIRTUAL	+0.0100%	1h	0.7173	+0.001%	$71K	$43K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance VIRTUALUSDT	+0.0100%	4h	0.7167	−0.082%	$16.3M	$40.6M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7162	−0.153%	$16.5M	$18.4M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7165	−0.111%	$2.8M	$9.9M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7171	−0.027%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7165	−0.111%	$17.5M	$4.5M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7167	−0.083%	$2.9M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7166	−0.097%	$6.1M	$5.8M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7169	−0.055%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7173	+0.001%	$239K	$208K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7165	−0.116%	$536K	$913K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7165	−0.114%	$19K	$260K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7164	−0.125%	$634K	$900K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7166	−0.097%	$41K	$239K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7176	+0.045%	$54K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7173	+0.001%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7171	−0.030%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7161	−0.160%	$54K	$265K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7169	−0.049%	$18K	—	3x	as long as short
Deribit VIRTUAL_USDC-PERPETUAL	+0.0168%	1h	0.7175	+0.028%	$15K	$40K	10x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0316% / S −0.0265%	1h	0.7172	−0.016%	$33K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7167	−0.083%	$797K	$898K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0416%	1h	0.7184	+0.154%	$201K	$105K	50x	as long as short
Kraken Futures PF_VIRTUALUSD	+0.0799%	1h	0.7180	+0.100%	$593K	$662K	50x	as long as short