Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0281%/8h= +30.8% APRpaid last 24h +0.026%

Price spread now: Bluefin against Aster−0.020%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Bluefin is 0.020% cheaper against Aster than usual: you would sell low and buy high (spread −0.020% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 6 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ETHUSDT	2,731.7	0.0079	pay 0.0079% / 8h	4h 40m	$251.5M	$844.4M	200x
Short	Bluefin ETH-PERP	2,731.1	0.0360	get 0.0045% / 1h	40m 55s	$21K	$20K	25x

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 −0.020%Rate

Funding earned: $59.02
Price spread: −0.020% → 0.000%: −$2.01
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: $42.01
Costs to cover: 0.150%
Break-even: 2.0 days

Slippage unknown: Aster: live order book, 3 min ago; Bluefin: 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	0.02 bp	4.0 bp −$4	4.0 bp −$40	4.7 bp −$466	11.0 bp −$5,477
Sell Bluefin no order-book sample	—	—	—	—	—

Bluefin: 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.

ETH on 55 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
Perpl ETH	−0.0447%	43m	2,729.8	−0.069%	$298K	$5.6M	8.3x	as long as short
Injective ETH/USDC PERP	−0.0141%	1h	2,728.7	−0.109%	$117K	$22.5M	52x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,729.9	−0.065%	$5K	$1K	50x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,730.6	−0.040%	$11.9M	—	200x	as long as short
ApeX Omni ETHUSDT	−0.0005%	1h	2,729.9	−0.067%	$8.9M	$31.3M	100x	as long as short
dYdX ETH-USD	0.0000%	1h	2,729.8	−0.069%	$10.7M	$41.7M	50x	as long as short
01 Exchange ETHUSD	0.0000%	1h	2,730	−0.062%	$188K	$841K	50x	as long as short
Phoenix ETH	0.0000%	1h	2,728.8	−0.105%	$832K	$2.9M	25x	as long as short
Bullet ETH-USD	+0.0006%	1h	2,729.9	−0.065%	$180K	$1.7M	20x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0007%	1h	2,731.1	−0.021%	$26.2M	—	200x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDC	+0.0057%	8h	2,731	−0.023%	—	$18.4M	—	as long as short
SoDEX ETH-USD	+0.0058%	1h	2,730.2	−0.054%	$54.4M	$187.6M	40x	as long as short
KuCoin ETHUSDTM	+0.0070%	8h	2,731.1	−0.020%	$380.4M	$576.2M	100x	as long as short
OKX ETH-USDT-SWAP	+0.0073%	8h	2,731.5	−0.006%	$1.67B	$10.71B	100x	as long as short
Aster ETHUSDTlong	+0.0079%	8h	2,731.7	long leg	$251.5M	$844.4M	200x
HTX ETH-USDT	+0.0080%	8h	2,729.7	−0.073%	$1.05B	$1.20B	200x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,727.8	−0.142%	$4.9M	$155K	20x	as long as short
Binance ETHUSDT	+0.0088%	8h	2,731.9	+0.010%	$6.35B	$15.86B	150x	as long as short
MEXC ETH_USDT	+0.0089%	8h	2,732.1	+0.015%	$1.52B	$2.55B	500x	as long as short
Bybit ETHUSDT	+0.0089%	8h	2,731.5	−0.005%	$2.39B	$4.34B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,730.9	−0.030%	$111.9M	$435.3M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,731.8	+0.006%	$23.2M	$105.8M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,730.2	−0.053%	—	$30.6M	500x	as long as short
Paradex ETH-USD-PERP	+0.0098%	8h	2,733.6	+0.072%	$15.6M	$8.0M	50x	as long as short
RISEx ETH/USDC	+0.0099%	1h	2,730.5	−0.044%	$5.6M	$11.5M	25x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,729.2	−0.091%	$500K	$3.2M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,729.7	−0.074%	$13.8M	$104.3M	50x	as long as short
Hyperliquid ETH	+0.0100%	1h	2,734.2	+0.092%	$3.10B	$2.06B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,730.4	−0.047%	$31.6M	$333.8M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,729.3	−0.087%	$2.7M	$17.0M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,730.3	−0.051%	$2.8M	$16.2M	25x	as long as short
Gate ETH_USDT	+0.0100%	8h	2,731.9	+0.009%	$3.34B	$8.83B	200x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,731.8	+0.005%	$2.07B	$2.75B	150x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,730.2	−0.053%	$15.0M	$39.7M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,729.3	−0.088%	$133.2M	$325.2M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,730.8	−0.032%	$183.7M	$669.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,730.7	−0.037%	$158.9M	$86.4M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,730.4	−0.047%	$21.1M	$69.5M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,730.5	−0.045%	—	$843K	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,731.2	−0.018%	$11.1M	$9.1M	50x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,731.9	+0.007%	$41.2M	$29.7M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,729.1	−0.096%	$957K	$11.4M	100x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,730.4	−0.049%	$265.4M	$65.5M	150x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,730.9	−0.029%	$166.8M	$318.0M	25x	as long as short
Extended ETH-USD	+0.0104%	1h	2,731.1	−0.022%	$30.4M	$72.7M	50x	as long as short
Deribit ETH-PERPETUAL	+0.0105%	1h	2,731.7	−0.001%	$260.1M	$196.7M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0112%	1h	2,731.8	+0.003%	$51.5M	$4.26B	50x	as long as short
Aftermath Perps ETHUSD	+0.0123%	1h	2,731.4	−0.009%	$30K	$20K	20x	as long as short
Kalshi KXETHPERP	+0.0150%	8h	2,729.8	−0.069%	$6.5M	$677.7M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0193%	8h	2,732.8	+0.040%	$32.1M	$11.6M	100x	as long as short
Kraken Futures PF_ETHUSD	+0.0222%	1h	2,731	−0.025%	$84.2M	$314.0M	100x	as long as short
Reya ETHRUSDPERP	+0.0222%	1h	2,728.9	−0.100%	$7.3M	$1.2M	25x	as long as short
Hibachi ETH/USDT-P	+0.0248%	1h	2,730.5	−0.042%	$253K	$1.4M	20x	as long as short
BloFin ETH-USDT	+0.0354%	8h	2,730.3	−0.051%	$282.9M	$174.9M	150x	as long as short
Bluefin ETH-PERPshort	+0.0360%	1h	2,731.1	−0.020%	$21K	$20K	25x