Funding arb · Price arb /

XLM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0309%/8h= +33.8% APRpaid last 24h +0.040%

Price spread now: Hyperliquid against Aster+0.056%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$370.372% of the position

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.057%−$6 on $10k

Price spread, last 4 days (all we have)−0.006%−$1 · spread now +0.056%, 7d avg +0.015%

Together, before fees−0.063%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Hyperliquid is 0.041% dearer against Aster than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.015%. Mind the row above: over the last 7 days funding on this pair cost −0.057%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.057% in total (about -3.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XLMUSDT	0.2168	0.0100	pay 0.0100% / 8h	1h 51m	$589K	$799K	75x
Short	Hyperliquid XLM	0.2169	0.0409	get 0.0051% / 1h	51m 58s	$12.3M	$6.0M	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 +0.056%Rate

Funding earned: $64.9
Price spread: +0.056% → +0.015%: $4.09
Slippage, 4 orders: −$20.18
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $31.82
Costs to cover: 0.372%
Break-even: 3.6 days

Slippage from Aster: live order book, 31 min ago; Hyperliquid: live order book, 11 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, 31 min ago	1.86 bp	10.5 bp −$11	46.4 bp −$464	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 11 min ago	0.23 bp	7.9 bp −$8	doesn't fit	doesn't fit	doesn't fit

XLM on 31 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
gTrade (Gains Network) XLM/USD	L 0.0000% / S +0.0002%	1h	0.2168	−0.011%	$4K	—	150x	as long as short
dYdX XLM-USD	+0.0032%	1h	0.2169	+0.036%	$24K	$3K	10x	as long as short
Aster XLMUSDTlong	+0.0100%	8h	0.2168	long leg	$589K	$799K	75x
Binance XLMUSDT	+0.0100%	8h	0.2167	−0.035%	$56.5M	$148.0M	75x	as long as short
Bybit XLMUSDT	+0.0100%	8h	0.2167	−0.055%	$44.0M	$42.4M	75x	as long as short
OKX XLM-USDT-SWAP	+0.0100%	8h	0.2167	−0.060%	$13.2M	$41.5M	50x	as long as short
Gate XLM_USDT	+0.0100%	8h	0.2167	−0.041%	$4.0M	$5.9M	75x	as long as short
MEXC XLM_USDT	+0.0100%	8h	0.2167	−0.041%	$25.7M	$25.5M	300x	as long as short
KuCoin XLMUSDTM	+0.0100%	8h	0.2167	−0.064%	$14.6M	$10.5M	75x	as long as short
Bitget XLMUSDT	+0.0100%	8h	0.2167	−0.046%	$25.9M	$18.5M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX XLM-USDT	+0.0100%	8h	0.2167	−0.032%	—	$7.0M	—	as long as short
Variational Omni XLM	+0.0100%	8h	0.2175	+0.342%	$242K	$1.1M	—	as long as short
edgeX XLMUSDC	+0.0100%	4h	0.2179	+0.516%	$12K	$299K	10x	as long as short
GRVT XLM_USDT_Perp	+0.0100%	8h	0.2178	+0.463%	$605K	$610K	10x	as long as short
ApeX Omni XLMUSDT	+0.0100%	1h	0.2179	+0.508%	$175K	$256K	50x	as long as short
Orderly PERP_XLM_USDC_mythos	+0.0100%	4h	0.2169	+0.051%	$3K	$2K	10x	as long as short
SunX XLM-USDT	+0.0100%	8h	0.2165	−0.111%	$2K	$1.7M	20x	as long as short
SoDEX XLM-USD	+0.0100%	1h	0.2167	−0.037%	$2K	$6K	5x	as long as short
HTX XLM-USDT	+0.0100%	8h	0.2171	+0.143%	$201K	$272K	20x	as long as short
Phemex XLMUSDT	+0.0100%	8h	0.2167	−0.037%	$9.1M	$9.1M	50x	as long as short
Extended XLM-USD	+0.0104%	1h	0.2167	−0.058%	$194K	$1.6M	10x	as long as short
BloFin XLM-USDT	+0.0220%	8h	0.2170	+0.102%	$2.3M	$6.3M	75x	as long as short
Phoenix XLM	+0.0221%	1h	0.2176	+0.383%	$5K	$41K	5x	as long as short
Backpack XLM_USDC_PERP	+0.0318%	1h	0.2168	0.000%	$103K	$239K	20x	as long as short
GMX XLM/USD [WBTC.b-USDC]	L +0.0342% / S −0.0194%	1h	0.2168	+0.008%	$49K	—	100x	as long as short
Hyperliquid XLMshort	+0.0409%	1h	0.2169	+0.056%	$12.3M	$6.0M	5x
Coinbase International XLM-PERP-INTX	+0.0432%	1h	0.2173	+0.222%	$231K	$1.5M	50x	as long as short
Injective XLM/USDC PERP	+0.0475%	1h	0.2156	−0.549%	$116	$185K	12x	as long as short
Kraken Futures PF_XLMUSD	+0.0504%	1h	0.2167	−0.022%	$2.6M	$2.6M	50x	as long as short
Deribit XLM_USDC-PERPETUAL	+0.0534%	1h	0.2170	+0.083%	$538K	$174K	25x	as long as short
Lighter XLM	+0.0688%	1h	0.2171	+0.139%	$427K	$804K	5x	as long as short