Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0063%/8h= +6.9% APRpaid last 24h +0.015%

Price spread now: Ondo Perps against Aster−0.006%7-day average +0.006% · you buy dearer than you sell

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

Long on Aster Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 7 days−0.220%−$22 · spread now −0.006%, 7d avg +0.006%

Together, before fees−0.143%+ Points / potential airdropAster: Stage 5 · Ondo Perps: Active · farm board−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.006%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BTCUSDT	85,791.1	0.0037	pay 0.0037% / 8h	6h 46m	$497.5M	$1.13B	200x
Short	Ondo Perps BTC-USD.P	85,786	0.0100	get 0.0013% / 1h	46m 06s	$3.9M	$17.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo 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 Ondo PerpsbpOrdersPrice spread, now −0.006%Rate

Funding earned: $13.24
Price spread: −0.006% → +0.006%: −$1.25
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$1.01
Costs to cover: 0.130%
Break-even: 7.5 days

Slippage unknown: Aster: live order book, 3 min ago; Ondo 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	0.11 bp	4.1 bp −$4	4.4 bp −$44	5.5 bp −$546	8.1 bp −$4,046
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo 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	−0.0144%	1h	85,788	−0.004%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,799	+0.009%	$8K	$3K	50x	as long as short
BloFin BTC-USDT	−0.0078%	8h	85,853	+0.072%	$415.8M	$658.2M	150x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,783.5	−0.009%	$364K	$2.3M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,814.4	+0.027%	$16.8M	$20.6M	50x	as long as short
Perpl BTC	0.0000%	43m	85,827.2	+0.042%	$513K	$21.3M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,780.1	−0.013%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,810	+0.022%	$341K	$26.9M	52x	as long as short
Aster BTCUSDTlong	+0.0037%	8h	85,791.1	long leg	$497.5M	$1.13B	200x
KuCoin XBTUSDTM	+0.0041%	8h	85,769.1	−0.026%	$894.4M	$757.2M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx BTC/USDC	+0.0044%	1h	85,799	+0.009%	$8.1M	$42.6M	25x	as long as short
BingX BTC-USDC	+0.0052%	8h	85,767.6	−0.027%	—	$15.4M	—	as long as short
Reya BTCRUSDPERP	+0.0053%	1h	85,764.5	−0.031%	$6.7M	$146.1M	40x	as long as short
Bitget BTCUSDT	+0.0067%	8h	85,760.8	−0.035%	$2.95B	$5.13B	150x	as long as short
ApeX Omni BTCUSDT	+0.0075%	1h	85,863.8	+0.085%	$140.4M	$320.9M	100x	as long as short
Nado BTC-PERP	+0.0079%	1h	85,778.6	−0.015%	$23.0M	$229.0M	50x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,768.4	−0.026%	$2.5M	$1.8M	20x	as long as short
HTX BTC-USDT	+0.0081%	8h	85,766.7	−0.028%	$2.27B	$968.9M	200x	as long as short
MEXC BTC_USDT	+0.0086%	8h	85,776.5	−0.017%	$5.09B	$5.66B	500x	as long as short
Binance BTCUSDT	+0.0088%	8h	85,773.3	−0.021%	$9.34B	$24.58B	150x	as long as short
Gate BTC_USDT	+0.0089%	8h	85,779.9	−0.013%	$5.66B	$10.38B	200x	as long as short
Lighter BTC	+0.0096%	1h	85,781.9	−0.011%	$169.9M	$978.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,785.4	−0.007%	$23.3M	$145.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,789	−0.003%	$8.4M	$52.5M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,764	−0.032%	$210K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,838.5	+0.055%	$3.8M	$8.7M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,842	+0.059%	$3.77B	$5.03B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,831.2	+0.047%	$40.9M	$569.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,791.1	0.000%	$5.27B	$9.81B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,789.8	−0.002%	$2.55B	$12.53B	100x	as long as short
Ondo Perps BTC-USD.Pshort	+0.0100%	1h	85,786	−0.006%	$3.9M	$17.8M	25x
Arcus BTC-USD	+0.0100%	1h	85,774	−0.020%	$7.3M	$98.1M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,761.6	−0.034%	$35.1M	$163.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,783.2	−0.009%	$155.9M	$552.3M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,838.8	+0.056%	$278.1M	$943.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,857.1	+0.077%	$215.7M	$163.7M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,799.4	+0.010%	$30.4M	$207.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,835.4	+0.052%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,774	−0.020%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,783	−0.009%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,768.8	−0.026%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,813.1	+0.026%	$186K	$709K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,785.6	−0.007%	$30.0M	$57.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,776.6	−0.017%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,768	−0.027%	$60.0M	$338.0M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,776.5	−0.017%	$154.0M	$477.9M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,804.9	+0.016%	$582.3M	$118.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,746	−0.053%	$44.7M	$226.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,795.6	+0.005%	—	$101.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,807.8	+0.019%	$131.6M	$5.26B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0119%	1h	85,810.3	+0.022%	$895.5M	$1.54B	50x	as long as short
Hibachi BTC/USDT-P	+0.0128%	1h	85,822.2	+0.036%	$707K	$8.0M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,797.7	+0.008%	$189.0M	$970.4M	100x	as long as short
Aftermath Perps BTCUSD	+0.0150%	1h	85,825.2	+0.040%	$77K	$217K	20x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0204% / S −0.0194%	1h	85,778.6	−0.015%	$13.8M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0205%	8h	85,816	+0.029%	$9.9M	$769.2M	6.4x	as long as short