Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0017%/8h= −1.9% APRpaid last 24h −0.013%

Price spread now: gTrade (Gains Network) against Aster−0.011%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$160.161% of the position

Long on Aster Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.070%−$7 on $10k

Price spread, last 3 days (all we have)+0.040%+$4 · spread now −0.011%, 7d avg +0.011%

Together, before fees−0.030%+ Points / potential airdropAster: Stage 5 · farm board−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and gTrade (Gains Network) is 0.022% cheaper against Aster than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.011%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BTCUSDT	86,401.2	0.0022	pay 0.0022% / 8h	7h 30m	$501.1M	$1.14B	200x
Short	gTrade (Gains Network) BTC/USD	86,392	L +0.0005% / S −0.0004%	get 0.0001% / 1h	30m 04s	$36.9M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.011%Rate

Funding earned: −$3.61
Price spread: −0.011% → +0.011%: −$2.19
Slippage, 4 orders: −$1.13
Fee Aster: 4 bp × 2 orders: −$8
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$21.93
Costs to cover: 0.161%
Break-even: never at this rate

Slippage from Aster: live order book, 4 min ago; gTrade (Gains Network): virtual book (oracle venue), 4 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, 4 min ago	0.01 bp	4.1 bp −$4	4.4 bp −$44	5.1 bp −$511	7.1 bp −$3,572
Sell gTrade (Gains Network) virtual book (oracle venue), 4 min ago	0.51 bp	4.0 bp −$4	4.1 bp −$41	4.5 bp −$446	6.4 bp −$3,183

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
Bluefin BTC-PERP	−0.0419%	1h	86,411.7	+0.012%	$144K	$666K	40x	as long as short
Phoenix BTC	−0.0129%	1h	86,337	−0.074%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,381	−0.023%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	86,376.4	−0.029%	$361K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,391.9	−0.011%	$482K	$21.6M	6.7x	as long as short
gTrade (Gains Network) BTC/USDshort	L +0.0005% / S −0.0004%	1h	86,392	−0.011%	$36.9M	—	200x
Aster BTCUSDTlong	+0.0022%	8h	86,401.2	long leg	$501.1M	$1.14B	200x
Injective BTC/USDC PERP	+0.0023%	1h	86,358	−0.050%	$343K	$26.9M	52x	as long as short
dYdX BTC-USD	+0.0026%	1h	86,374.9	−0.030%	$16.9M	$20.5M	50x	as long as short
KuCoin XBTUSDTM	+0.0041%	8h	86,382.6	−0.021%	$830.9M	$720.7M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0045%	1h	86,359.6	−0.048%	$6.7M	$145.7M	40x	as long as short
BingX BTC-USDT	+0.0050%	8h	86,411.4	+0.012%	—	$1.57B	—	as long as short
RISEx BTC/USDC	+0.0052%	1h	86,376.6	−0.028%	$8.3M	$42.5M	25x	as long as short
Deribit BTC-PERPETUAL	+0.0061%	1h	86,419.2	+0.021%	$902.6M	$1.51B	50x	as long as short
Bitget BTCUSDT	+0.0063%	8h	86,405.5	+0.005%	$2.97B	$5.04B	150x	as long as short
Phemex BTCUSDT	+0.0074%	8h	86,381.2	−0.023%	$154.3M	$473.6M	150x	as long as short
MEXC BTC_USDT	+0.0077%	8h	86,389.8	−0.013%	$5.14B	$5.70B	500x	as long as short
Binance BTCUSDT	+0.0077%	8h	86,406.1	+0.006%	$9.42B	$24.29B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,370.3	−0.036%	$2.5M	$1.7M	20x	as long as short
HTX BTC-USDT	+0.0081%	8h	86,365.3	−0.042%	$2.29B	$964.6M	200x	as long as short
Lighter BTC	+0.0096%	1h	86,401.4	0.000%	$170.5M	$985.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,402.1	+0.001%	$23.7M	$149.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,364	−0.043%	$8.4M	$51.9M	100x	as long as short
SoDEX BTC-USD	+0.0097%	1h	86,380	−0.024%	$60.4M	$338.2M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,346	−0.064%	$202K	$7.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,385.4	−0.018%	$4.2M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,375.1	−0.030%	$22.0M	$228.1M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,465	+0.074%	$3.79B	$5.00B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,398.9	−0.003%	$40.7M	$551.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,416	+0.017%	$5.26B	$9.66B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,422	+0.024%	$2.57B	$12.49B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,385	−0.019%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,390.8	−0.012%	$7.2M	$94.9M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,348	−0.062%	$573.1M	$19.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	86,415.9	+0.017%	$5.80B	$10.54B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,399.7	−0.002%	$37.5M	$157.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,377.3	−0.028%	$158.2M	$561.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,352.6	−0.056%	$278.9M	$950.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,334.3	−0.077%	$216.8M	$165.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,356.3	−0.052%	$141.6M	$321.1M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,327	−0.086%	$30.6M	$209.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,409.2	+0.009%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,366	−0.041%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,375.6	−0.030%	$192K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,374.1	−0.031%	$2.4M	$8.9M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,403.8	+0.003%	$30.5M	$58.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,359.4	−0.048%	$3.4M	$5.2M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	86,394.8	−0.007%	$45.9M	$222.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,380.1	−0.024%	—	$98.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,425.8	+0.029%	$132.2M	$5.40B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,413.4	+0.014%	$192.4M	$942.2M	100x	as long as short
Aftermath Perps BTCUSD	+0.0166%	1h	86,401.9	+0.001%	$77K	$217K	20x	as long as short
Hibachi BTC/USDT-P	+0.0168%	1h	86,433.2	+0.037%	$711K	$7.9M	30x	as long as short
BloFin BTC-USDT	+0.0197%	8h	86,370.5	−0.035%	$415.9M	$645.9M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0205% / S −0.0219%	1h	86,389.4	−0.014%	$14.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0209%	8h	86,398	−0.004%	$10.2M	$763.5M	6.4x	as long as short