Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.051%

Price spread now: Aster against Hyperliquid−0.039%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$400.396% of the position

Long on Hyperliquid Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 7 days+0.055%+$5 · spread now −0.039%, 7d avg −0.016%

Together, before fees+0.043%+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm board+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.023% cheaper against Hyperliquid than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LINK	13.086	0.0100	pay 0.0013% / 1h	51m 56s	$77.9M	$23.0M	10x
Short	Aster LINKUSDT	13.081	0.0100	get 0.0100% / 8h	2h 51m	$1.6M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hyperliquid. 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 HyperliquidbpFee AsterbpOrdersPrice spread, now −0.039%Rate

Funding earned: $0
Price spread: −0.039% → −0.016%: −$2.32
Slippage, 4 orders: −$22.62
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$41.94
Costs to cover: 0.396%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; Aster: live order book, 2 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 Hyperliquid live order book, 12 min ago	0.38 bp	5.4 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	2.29 bp	9.5 bp −$10	15.2 bp −$152	doesn't fit	doesn't fit

LINK on 40 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
GMX LINK/USD [LINK-USDC]	L −0.0091% / S +0.0166%	1h	13.086	−0.003%	$1.7M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.084	−0.015%	$347K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.080	−0.045%	$455K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.081	−0.041%	$697K	$107K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.087	+0.008%	$83K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.127	+0.317%	$3K	$84K	10x	as long as short
Variational Omni LINK	+0.0031%	8h	13.109	+0.179%	$3.3M	$1.6M	—	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.242%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0056%	8h	13.069	−0.130%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.079	−0.050%	$2.1M	$2.4M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.076	−0.073%	$31K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.078	−0.061%	$399K	$316K	10x	as long as short
Hyperliquid LINKlong	+0.0100%	1h	13.086	long leg	$77.9M	$23.0M	10x
Aster LINKUSDTshort	+0.0100%	8h	13.081	−0.039%	$1.6M	$2.7M	50x
Pacifica LINK	+0.0100%	1h	13.081	−0.038%	$274K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.072	−0.105%	$120.9M	$300.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.075	−0.084%	$84.4M	$69.3M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.077	−0.069%	$27.6M	$84.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.101	+0.115%	$184K	$170K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.076	−0.076%	$130.4M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.073	−0.099%	$35.5M	$55.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.078	−0.061%	$21.7M	$16.0M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.073	−0.099%	$54.1M	$30.1M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.073	−0.099%	—	$21.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.082	−0.031%	$362K	$370K	15x	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.117	+0.235%	$43K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.133	+0.359%	$591K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.109	+0.176%	$153K	$660K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.082	−0.031%	$79K	$62K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.074	−0.091%	$22K	$16K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.094	+0.064%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.075	−0.084%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.078	−0.062%	$640K	$905K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.068	−0.136%	$665K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.078	−0.058%	$548K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.084	−0.015%	$987K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.090	+0.031%	$5.2M	$16.6M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.080	−0.043%	$5K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0507%	1h	13.084	−0.018%	$6.9M	$7.7M	50x	as long as short
Phemex LINKUSDT	+0.0511%	8h	13.092	+0.046%	$20.2M	$11.5M	50x	as long as short