Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Aster against Phemex−0.036%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Aster

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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.036% cheaper against Phemex than usual: you would sell low and buy high, −$4 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	Phemex IWMUSDT	285.74	0	get 0.0000% / 8h	40m 00s	$765K	$81K	10x
Short	Aster IWMUSDT	285.64	0	get 0.0000% / 8h	40m 00s	$2K	$221	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phemex. 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 PhemexbpFee AsterbpOrdersPrice spread, now −0.036%Rate

Funding earned: $0
Price spread: −0.036% → 0.000%: −$3.63
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$23.63
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 62 min ago; Aster: no order-book sample. 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 Phemex live order book, 62 min ago	2.62 bp	63.4 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

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
Markets by Kinetiq mkts:SMALL2000	−0.0079%	1h	285.36	−0.133%	$566K	$358K	20x	as long as short
Aster IWMUSDTshort	0.0000%	8h	285.64	−0.036%	$2K	$221	20x
Bybit IWMUSDT	0.0000%	8h	285.51	−0.080%	$557K	$61K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.76	+0.007%	$438K	$159K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.73	−0.003%	$607K	$158K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.74	0.000%	$442K	$15K	20x	as long as short
Variational Omni IWM	0.0000%	8h	285.72	−0.006%	$160K	$207K	—	as long as short
SunX IWM-USDT	0.0000%	8h	285.48	−0.091%	$968	$455K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	285.78	+0.014%	$432	$37K	20x	as long as short
Phemex IWMUSDTlong	0.0000%	8h	285.74	long leg	$765K	$81K	10x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter IWM	+0.0032%	1h	286.25	+0.178%	$75K	$19K	10x	as long as short
BloFin IWM-USDT	+0.0044%	8h	285.78	+0.014%	$67K	$33K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	285.51	−0.080%	—	—	25x	as long as short
MEXC IWM_USDT	+0.0068%	8h	285.71	−0.010%	$883K	$84K	50x	as long as short
Binance IWMUSDT	+0.0069%	8h	285.72	−0.007%	$1.1M	$1.2M	20x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.77	+0.010%	$140K	$867K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0498%	8h	285.71	−0.012%	$986	$103K	10x	as long as short