Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.009%

Price spread now: Markets by Kinetiq against Aster−0.048%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 Markets by Kinetiq

What this pair did over the last

the charts below follow

Funding, last 6 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 · farm boardneeds both histories

Funding pays, the price is against you. Markets by Kinetiq is 0.048% cheaper against Aster than usual: you would sell low and buy high (spread −0.048% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 3.5 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster IWMUSDT	284.73	0	get 0.0000% / 8h	7h 36m	$2K	$221	20x
Short	Markets by Kinetiq mkts:SMALL2000	284.59	0.0046	get 0.0006% / 1h	36m 44s	$564K	$358K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Markets by Kinetiq 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 Markets by KinetiqbpOrdersPrice spread, now −0.048%Rate

Funding earned: $9.59
Price spread: −0.048% → 0.000%: −$4.8
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Markets by Kinetiq: 0.81 bp × 2 orders: −$1.62
Net: −$4.83
Costs to cover: 0.096%
Break-even: 10.5 days

Slippage unknown: Aster: no order-book sample; Markets by Kinetiq: live order book, 9 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 Markets by Kinetiq live order book, 9 min ago	2.81 bp	3.6 bp −$4	44.9 bp −$449	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.

IWM on 17 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
Aster IWMUSDTlong	0.0000%	8h	284.73	long leg	$2K	$221	20x
Bybit IWMUSDT	0.0000%	8h	284.68	−0.016%	$563K	$73K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	284.80	+0.026%	$436K	$158K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	284.91	+0.064%	$601K	$164K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	284.83	+0.036%	$441K	$15K	20x	as long as short
Variational Omni IWM	0.0000%	8h	284.78	+0.018%	$169K	$217K	—	as long as short
GRVT IWM_USDT_Perp	0.0000%	8h	284.89	+0.057%	$775	$100K	10x	as long as short
SunX IWM-USDT	0.0000%	8h	284.88	+0.054%	$886	$462K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	284.99	+0.093%	$661	$38K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	284.92	+0.068%	$764K	$84K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter IWM	+0.0032%	1h	284.86	+0.047%	$74K	$19K	10x	as long as short
Markets by Kinetiq mkts:SMALL2000short	+0.0046%	1h	284.59	−0.048%	$564K	$358K	20x
Vest IWM-USD-PERP	+0.0046%	1h	284.66	−0.023%	—	$1K	25x	as long as short
BloFin IWM-USDT	+0.0062%	8h	284.93	+0.071%	$67K	$33K	20x	as long as short
MEXC IWM_USDT	+0.0070%	8h	284.79	+0.022%	$880K	$84K	50x	as long as short
Binance IWMUSDT	+0.0070%	8h	284.90	+0.059%	$1.1M	$1.2M	20x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	284.85	+0.043%	$141K	$917K	20x	as long as short