Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.032%

Price spread now: Hyperliquid against Aster+0.196%7-day average +0.133% · 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−$73as in the Price arb table

costs, in and out, $10k−$790.791% 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)+0.112%+$11 on $10k

Price spread, last 4 days (all we have)+0.029%+$3 · spread now +0.196%, 7d avg +0.133%

Together, before fees+0.141%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board+$14 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 0.063% dearer against Aster than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.133%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ARUSDT	4.6020	0.0100	pay 0.0100% / 8h	28m 33s	$20K	$611K	10x
Short	Hyperliquid AR	4.6110	0.0100	get 0.0013% / 1h	28m 33s	$4.1M	$4.9M	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 +0.196%Rate

Funding earned: $0
Price spread: +0.196% → +0.133%: $6.29
Slippage, 4 orders: −$62.09
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$72.8
Costs to cover: 0.791%
Break-even: never at this rate

Slippage from Aster: live order book, 49 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, 49 min ago	10.96 bp	36.6 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	2.72 bp	9.3 bp −$9	doesn't fit	doesn't fit	doesn't fit

AR 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
Kraken Futures PF_ARUSD	−0.1955%	1h	4.6033	+0.029%	$52K	$163K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.5997	−0.049%	$591K	—	50x	as long as short
OKX AR-USDT-SWAP	−0.0024%	8h	4.5970	−0.108%	$2.4M	$20.9M	20x	as long as short
MEXC AR_USDT	+0.0031%	8h	4.6050	+0.066%	$6.8M	$4.4M	100x	as long as short
Extended AR-USD	+0.0032%	1h	4.6048	+0.062%	$37K	$237K	10x	as long as short
Binance ARUSDT	+0.0032%	8h	4.6057	+0.081%	$9.2M	$55.6M	75x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	−0.651%	$3K	$339	5.5x	as long as short
Hyperliquid ARshort	+0.0100%	1h	4.6110	+0.196%	$4.1M	$4.9M	5x
Aster ARUSDTlong	+0.0100%	8h	4.6020	long leg	$20K	$611K	10x
Bybit ARUSDT	+0.0100%	8h	4.6050	+0.066%	$4.6M	$8.9M	75x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate AR_USDT	+0.0100%	8h	4.6050	+0.066%	$2.6M	$2.3M	50x	as long as short
KuCoin ARUSDTM	+0.0100%	8h	4.6050	+0.066%	$1.4M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.5990	−0.064%	$3.9M	$5.6M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.6010	−0.021%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.5805	−0.467%	$139K	$172K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.5900	−0.260%	$58K	$747K	50x	as long as short
BloFin AR-USDT	+0.0128%	8h	4.6000	−0.043%	$435K	$677K	20x	as long as short