Funding arb · Price arb /

ASTER

all ASTER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.008%

Price spread now: Bybit against Backpack−0.069%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$400.405% of the position

Long on Backpack Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.074%−$7 on $10k

Price spread, last 4 days (all we have)+0.248%+$25 · spread now −0.069%, 7d avg −0.040%

Together, before fees+0.175%+$17 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: Bybit is 0.029% cheaper against Backpack than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ASTER_USDC_PERP	0.7283	0.0100	pay 0.0013% / 1h	12m 43s	$208K	$497K	10x
Short	Bybit ASTERUSDT	0.7278	0.0100	get 0.0050% / 4h	3h 12m	$48.9M	$25.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Backpack. 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 BackpackbpFee BybitbpOrdersPrice spread, now −0.069%Rate

Funding earned: $0
Price spread: −0.069% → −0.040%: −$2.85
Slippage, 4 orders: −$19.46
Fee Backpack: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$43.31
Costs to cover: 0.405%
Break-even: never at this rate

Slippage from Backpack: live order book, 41 min ago; Bybit: live order book, 1 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 Backpack live order book, 41 min ago	0.07 bp	8.0 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.69 bp	11.7 bp −$12	34.8 bp −$348	235.6 bp −$23.6K	doesn't fit

ASTER on 32 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
Coinbase International ASTER-PERP-INTX	−0.0064%	1h	0.7287	+0.056%	$252K	$1.1M	50x	as long as short
Aster ASTERUSDT	0.0000%	4h	0.7274	−0.124%	$52.4M	$112.0M	200x	as long as short
dYdX ASTER-USD	0.0000%	1h	0.7280	−0.045%	$14K	$1K	5x	as long as short
Deribit ASTER_USDC-PERPETUAL	0.0000%	1h	0.7282	−0.008%	$11K	$72K	25x	as long as short
gTrade (Gains Network) ASTER/USD	L +0.0006% / S −0.0005%	1h	0.7283	−0.006%	$24K	—	150x	as long as short
01 Exchange ASTERUSD	+0.0032%	1h	0.7279	−0.055%	$8K	$4K	10x	as long as short
Injective ASTER/USDC PERP	+0.0033%	1h	0.7390	+1.469%	$9	$133K	5.5x	as long as short
Orderly PERP_ASTER_USDC	+0.0064%	4h	0.7285	+0.027%	$13K	$1K	10x	as long as short
Lighter ASTER	+0.0096%	1h	0.7278	−0.066%	$880K	$919K	5x	as long as short
Nado ASTER-PERP	+0.0100%	1h	0.7277	−0.082%	$363K	$273K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ASTER	+0.0100%	1h	0.7280	−0.041%	$254K	$81K	10x	as long as short
Binance ASTERUSDT	+0.0100%	4h	0.7277	−0.089%	$90.1M	$122.1M	75x	as long as short
Bybit ASTERUSDTshort	+0.0100%	4h	0.7278	−0.069%	$48.9M	$25.4M	75x
OKX ASTER-USDT-SWAP	+0.0100%	4h	0.7280	−0.041%	$12.5M	$20.2M	50x	as long as short
Gate ASTER_USDT	+0.0100%	4h	0.7279	−0.055%	$6.4M	$5.7M	75x	as long as short
MEXC ASTER_USDT	+0.0100%	4h	0.7277	−0.082%	$33.8M	$20.1M	100x	as long as short
KuCoin ASTERUSDTM	+0.0100%	4h	0.7280	−0.037%	$10.8M	$3.3M	75x	as long as short
Bitget ASTERUSDT	+0.0100%	4h	0.7276	−0.096%	$17.7M	$7.8M	50x	as long as short
BingX ASTER-USDT	+0.0100%	4h	0.7278	−0.069%	—	$9.9M	—	as long as short
Backpack ASTER_USDC_PERPlong	+0.0100%	1h	0.7283	long leg	$208K	$497K	10x
Variational Omni ASTER	+0.0100%	4h	0.7279	−0.052%	$2.1M	$416K	—	as long as short
GRVT ASTER_USDT_Perp	+0.0100%	4h	0.7283	−0.001%	$450K	$4.1M	10x	as long as short
ApeX Omni ASTERUSDT	+0.0100%	1h	0.7291	+0.110%	$99K	$732K	50x	as long as short
SunX ASTER-USDT	+0.0100%	4h	0.7288	+0.069%	$2K	$1.7M	20x	as long as short
SoDEX ASTER-USD	+0.0100%	1h	0.7279	−0.055%	$13K	$8K	5x	as long as short
HTX ASTER-USDT	+0.0100%	4h	0.7278	−0.069%	$242K	$143K	20x	as long as short
edgeX ASTERUSDC	+0.0103%	4h	0.7280	−0.039%	$211K	$2.2M	10x	as long as short
Extended ASTER-USD	+0.0104%	1h	0.7274	−0.125%	$365K	$635K	25x	as long as short
Hyperliquid ASTER	+0.0107%	1h	0.7287	+0.048%	$24.9M	$8.0M	5x	as long as short
Kraken Futures PF_ASTERUSD	+0.0206%	1h	0.7286	+0.034%	$338K	$608K	20x	as long as short
GMX ASTER/USD [WBTC.b-USDC]	L +0.0304% / S −0.0215%	1h	0.7282	−0.016%	$28K	—	100x	as long as short
BloFin ASTER-USDT	+0.0340%	4h	0.7276	−0.096%	$3.5M	$2.1M	75x	as long as short