Funding arb · Price arb /

NIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.2283%/8h= +250.0% APRpaid last 24h +0.314%

Price spread now: Hyperliquid against Aster+0.238%7-day average +0.253% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$360as in the Price arb table

costs, in and out, $10k−$3593.588% of the position

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.409%+$41 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.238%, 7d avg +0.253%

Together, before fees+0.310%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board+$31 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.253%, so right now this pair is about funding alone: +$68 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.409% in total (about 28.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster NILUSDT	0.06770	0.0100	pay 0.0050% / 4h	2h 49m	$20K	$370K	5x
Short	Hyperliquid NIL	0.06786	0.2383	get 0.0298% / 1h	49m 38s	$4.1M	$4.6M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.238%Rate

Funding earned: $479.42
Price spread: +0.238% → +0.253%: −$1.52
Slippage, 4 orders: −$341.77
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $119.13
Costs to cover: 3.588%
Break-even: 5.3 days

Slippage from Aster: live order book, 37 min ago; Hyperliquid: 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 Aster live order book, 37 min ago	14.15 bp	115.7 bp −$116	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 2 min ago	2.94 bp	13.5 bp −$13	doesn't fit	doesn't fit	doesn't fit

NIL on 12 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
BloFin NIL-USDT	+0.0070%	4h	0.06788	+0.271%	$360K	$161K	50x	as long as short
Aster NILUSDTlong	+0.0100%	4h	0.06770	long leg	$20K	$370K	5x
Binance NILUSDT	+0.0100%	4h	0.06758	−0.172%	$5.4M	$85.3M	50x	as long as short
Bybit NILUSDT	+0.0100%	4h	0.06768	−0.025%	$3.5M	$14.8M	20x	as long as short
Gate NIL_USDT	+0.0100%	4h	0.06759	−0.158%	$440K	$2.1M	50x	as long as short
MEXC NIL_USDT	+0.0100%	4h	0.06759	−0.158%	$2.3M	$6.0M	100x	as long as short
KuCoin NILUSDTM	+0.0100%	4h	0.06759	−0.158%	$483K	$722K	30x	as long as short
Bitget NILUSDT	+0.0100%	4h	0.06769	−0.010%	$1.7M	$9.7M	50x	as long as short
BingX NIL-USDT	+0.0100%	4h	0.06758	−0.172%	—	$8.7M	—	as long as short
Variational Omni NIL	+0.0100%	4h	0.06786	+0.234%	$50K	$154K	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended NIL-USD	+0.0104%	1h	0.06757	−0.192%	$16K	$94K	5x	as long as short
Hyperliquid NILshort	+0.2383%	1h	0.06786	+0.238%	$4.1M	$4.6M	3x