Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0530%/8h= +58.0% APRpaid last 24h +0.684%

Price spread now: Aster against Injective+0.044%77s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Aster is 0.044% dearer against Injective than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective IO/USDC PERP	0.1518	−0.0430	get 0.0054% / 1h	36m 07s	$2K	$201	5.5x
Short	Aster IOUSDT	0.1519	0.0100	get 0.0050% / 4h	1h 36m	$23K	$49K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now +0.044%Rate

Funding earned: $111.22
Price spread: +0.044% → 0.000%: $4.44
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: $107.64
Costs to cover: 0.080%
Break-even: 0.2 days

Slippage unknown: Injective: no order-book sample; Aster: 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 Injective no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Injective and Aster: 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.

IO on 14 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
Injective IO/USDC PERPlong	−0.0430%	1h	0.1518	long leg	$2K	$201	5.5x
Hyperliquid IO	+0.0100%	1h	0.1521	+0.184%	$1.0M	$378K	3x	as long as short
Aster IOUSDTshort	+0.0100%	4h	0.1519	+0.044%	$23K	$49K	5x
Binance IOUSDT	+0.0100%	4h	0.1521	+0.198%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1519	+0.079%	$1.1M	$912K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1517	−0.086%	$233K	$560K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1518	0.000%	$1.2M	$225K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1517	−0.066%	$355K	$659K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1521	+0.198%	$1.3M	$1.2M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1520	+0.132%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1517	−0.085%	$33K	$13K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1520	+0.103%	$1K	$132K	5x	as long as short
BloFin IO-USDT	+0.0142%	4h	0.1516	−0.132%	$193K	$40K	50x	as long as short
Kraken Futures PF_IOUSD	+2.3360%	1h	0.1520	+0.161%	$39K	$18K	10x	as long as short