Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h −0.029%

Price spread now: Jupiter Perps against Aster−0.100%7-day average +0.009% · you buy dearer than you sell

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

Long on Aster Short on Jupiter Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.126%−$13 on $10k

Price spread, last 4 days (all we have)+0.059%+$6 · spread now −0.100%, 7d avg +0.009%

Together, before fees−0.067%+ Points / potential airdropAster: Stage 5 · farm board−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Jupiter Perps is 0.108% cheaper against Aster than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BTCUSDT	85,797.9	0.0020	pay 0.0020% / 8h	5h 31m	$517.0M	$1.11B	200x
Short	Jupiter Perps WBTC-PERP	85,712.4	L +0.0104% / S +0.0056%	pay 0.0007% / 1h	31m 05s	—	$105.9M	500x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Jupiter Perps against Aster. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Jupiter PerpsbpOrdersPrice spread, now −0.100%Rate

Funding earned: −$15.91
Price spread: −0.100% → +0.009%: −$10.84
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Net: −$46.75
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 3 min ago; Jupiter Perps: 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 Aster live order book, 3 min ago	0.47 bp	5.0 bp −$5	5.1 bp −$51	5.9 bp −$588	7.8 bp −$3,887
Sell Jupiter Perps no order-book sample	—	—	—	—	—

Jupiter Perps: 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.

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	−0.0160%	1h	85,662	−0.158%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,739	−0.069%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,801.8	+0.005%	$370K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0033%	8h	85,805.1	+0.008%	$417.4M	$665.5M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,731.5	−0.077%	$16.8M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,792.3	−0.007%	$36.7M	—	200x	as long as short
Nado BTC-PERP	+0.0009%	1h	85,800.6	+0.003%	$22.9M	$221.2M	50x	as long as short
KuCoin XBTUSDTM	+0.0011%	8h	85,770.1	−0.032%	$919.3M	$753.1M	125x	as long as short
Aster BTCUSDTlong	+0.0020%	8h	85,797.9	long leg	$517.0M	$1.11B	200x
BingX BTC-USDT	+0.0054%	8h	85,813.2	+0.018%	—	$1.53B	—	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BTCUSDT	+0.0068%	8h	85,810.6	+0.015%	$2.96B	$5.03B	150x	as long as short
Reya BTCRUSDPERP	+0.0069%	1h	85,767.5	−0.035%	$6.7M	$146.4M	40x	as long as short
Bluefin BTC-PERP	+0.0069%	1h	85,828.4	+0.036%	$197K	$722K	40x	as long as short
Phemex BTCUSDT	+0.0070%	8h	85,800.7	+0.003%	$148.2M	$479.1M	150x	as long as short
HTX BTC-USDT	+0.0076%	8h	85,807.2	+0.011%	$2.27B	$936.6M	200x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,578	−0.256%	$340K	$26.9M	52x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,802	+0.005%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0087%	8h	85,809.4	+0.013%	$5.06B	$5.62B	500x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,812.6	+0.017%	$9.36B	$23.94B	150x	as long as short
SunX BTC-USDT	+0.0089%	8h	85,768.4	−0.034%	$2.9M	$6.1M	100x	as long as short
Lighter BTC	+0.0096%	1h	85,813.9	+0.019%	$170.6M	$990.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,824.1	+0.031%	$24.0M	$148.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,808	+0.012%	$8.4M	$52.0M	100x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,806.4	+0.010%	$3.8M	$8.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,764	−0.039%	$197K	$7.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,881	+0.097%	$3.74B	$4.99B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,780.4	−0.020%	$40.6M	$573.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,815	+0.020%	$5.34B	$9.59B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,822.8	+0.029%	$2.57B	$12.15B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,758	−0.046%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,735.3	−0.073%	$7.1M	$97.2M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,815.6	+0.021%	$5.56B	$10.50B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,806.8	+0.010%	$35.6M	$172.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,767.3	−0.036%	$156.3M	$548.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,658.9	−0.162%	$279.6M	$930.8M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,696.8	−0.118%	$215.2M	$166.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,618.1	−0.210%	$140.2M	$316.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,683.1	−0.134%	$30.3M	$210.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,816.8	+0.022%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,782	−0.019%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,774.1	−0.028%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,787.3	−0.012%	$2.3M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,780.7	−0.020%	$30.0M	$50.9M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,808	+0.012%	$60.1M	$336.2M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,614.4	−0.214%	$621.3M	$398.6M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0100%	1h	85,846.1	+0.056%	$892.4M	$1.53B	50x	as long as short
Extended BTC-USD	+0.0104%	1h	85,774.7	−0.027%	$44.1M	$227.7M	50x	as long as short
Jupiter Perps WBTC-PERPshort	L +0.0104% / S +0.0056%	1h	85,712.4	−0.100%	—	$105.9M	500x
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,852.4	+0.064%	$130.7M	$5.12B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,802.6	+0.006%	$8.4M	$42.3M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,836.3	+0.045%	$189.4M	$952.0M	100x	as long as short
Aftermath Perps BTCUSD	+0.0194%	1h	85,672.4	−0.146%	$78K	$219K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0179%	1h	85,790	−0.009%	$13.6M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0208%	1h	85,730.6	−0.078%	$702K	$7.8M	30x	as long as short
Kalshi KXBTCPERP	+0.0216%	8h	85,809	+0.013%	$10.5M	$760.6M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,811.3	+0.016%	$518K	$19.4M	6.7x	as long as short