Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0102%/8h= +11.2% APRpaid last 24h −0.155%

Price spread now: Bluefin against Aster+0.070%7-day average −0.018% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$240.235% of the position

Long on Aster Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.247%−$25 on $10k

Price spread, last 4 days (all we have)−0.109%−$11 · spread now +0.070%, 7d avg −0.018%

Together, before fees−0.356%+ Points / potential airdropAster: Stage 5 · farm board−$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bluefin is 0.088% dearer against Aster than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.018%. Mind the row above: over the last 7 days funding on this pair cost −0.247%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BTCUSDT	85,431.4	−0.0002	get 0.0002% / 8h	3h 24m	$514.5M	$1.10B	200x
Short	Bluefin BTC-PERP	85,490.9	0.0100	get 0.0013% / 1h	24m 26s	$206K	$738K	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin 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 BluefinbpOrdersPrice spread, now +0.070%Rate

Funding earned: $21.39
Price spread: +0.070% → −0.018%: $8.76
Slippage, 4 orders: −$8.55
Fee Aster: 4 bp × 2 orders: −$8
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: $6.6
Costs to cover: 0.235%
Break-even: 4.8 days

Slippage from Aster: live order book, 5 min ago; Bluefin: live order book, 30 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, 5 min ago	0.01 bp	4.0 bp −$4	4.0 bp −$40	4.5 bp −$447	6.0 bp −$3,018
Sell Bluefin live order book, 30 min ago	1.83 bp	8.7 bp −$9	15.4 bp −$154	doesn't fit	doesn't fit

BTC on 56 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
Phoenix BTC	−0.0140%	1h	85,490	+0.069%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,442	+0.012%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0042%	8h	85,437.1	+0.007%	$918.0M	$757.4M	125x	as long as short
BloFin BTC-USDT	−0.0021%	8h	85,435.4	+0.005%	$419.0M	$675.3M	150x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	85,461.2	+0.035%	$365K	$2.3M	50x	as long as short
Aster BTCUSDTlong	−0.0002%	8h	85,431.4	long leg	$514.5M	$1.10B	200x
Perpl BTC	0.0000%	43m	85,445.6	+0.017%	$501K	$18.7M	6.7x	as long as short
Nado BTC-PERP	+0.0003%	1h	85,430	−0.002%	$24.5M	$223.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,460.3	+0.034%	$36.5M	—	200x	as long as short
dYdX BTC-USD	+0.0037%	1h	85,485.8	+0.064%	$16.8M	$21.2M	50x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0044%	1h	85,514	+0.097%	$339K	$26.9M	52x	as long as short
Deribit BTC-PERPETUAL	+0.0052%	1h	85,490.7	+0.069%	$884.8M	$1.59B	50x	as long as short
SoDEX BTC-USD	+0.0059%	1h	85,443	+0.014%	$59.9M	$336.0M	40x	as long as short
BingX BTC-USDC	+0.0065%	8h	85,428	−0.004%	—	$17.2M	—	as long as short
Phemex BTCUSDT	+0.0073%	8h	85,437.3	+0.007%	$148.3M	$495.6M	150x	as long as short
Bitget BTCUSDT	+0.0080%	8h	85,449.6	+0.021%	$2.95B	$5.11B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,454.7	+0.027%	$172.0M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,446.5	+0.018%	$24.0M	$148.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,450	+0.022%	$8.4M	$55.0M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,436.6	+0.006%	$2.7M	$2.0M	20x	as long as short
Binance BTCUSDT	+0.0098%	8h	85,441.6	+0.012%	$9.43B	$24.42B	150x	as long as short
MEXC BTC_USDT	+0.0099%	8h	85,443.5	+0.014%	$5.06B	$5.66B	500x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,440	+0.010%	$208K	$8.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,500	+0.080%	$5.7M	$9.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,524	+0.108%	$3.79B	$5.01B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,479.5	+0.056%	$40.1M	$588.0M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,443.4	+0.014%	$5.18B	$9.86B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,457.2	+0.030%	$2.59B	$12.12B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,451	+0.023%	$3.8M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,453.8	+0.026%	$4.7M	$100.4M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,517.4	+0.101%	$680.3M	$725.5M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,445.6	+0.017%	$5.53B	$10.82B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,434.8	+0.004%	$36.0M	$178.7M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,453	+0.025%	$154.1M	$565.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,480.4	+0.057%	$279.2M	$928.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,538.4	+0.125%	$215.0M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,498.2	+0.078%	$139.9M	$315.6M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,486	+0.064%	$30.2M	$207.1M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,505.1	+0.086%	—	$11.2M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,450	+0.022%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,446.8	+0.018%	$199K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,438.5	+0.008%	$2.5M	$8.9M	100x	as long as short
Bluefin BTC-PERPshort	+0.0100%	1h	85,490.9	+0.070%	$206K	$738K	40x
Derive BTC-PERP	+0.0100%	1h	85,439.4	+0.009%	$30.0M	$50.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,418.8	−0.015%	$2.9M	$6.1M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,433.6	+0.003%	$2.26B	$948.8M	200x	as long as short
Reya BTCRUSDPERP	+0.0101%	1h	85,443.9	+0.015%	$6.6M	$147.1M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,419.5	−0.014%	$45.1M	$233.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,452.6	+0.025%	—	$106.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,481	+0.058%	$117.1M	$5.25B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,468.7	+0.044%	$187.6M	$954.5M	100x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,484.4	+0.062%	$8.6M	$43.0M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0176% / S −0.0149%	1h	85,460.6	+0.034%	$13.1M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0182%	8h	85,490	+0.069%	$11.7M	$754.3M	6.4x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,520.9	+0.105%	$697K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0256%	1h	85,512.5	+0.095%	$78K	$221K	20x	as long as short