Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1031%/8h= −112.9% APRpaid last 24h −0.900%

Price spread now: Aster against Kraken Futures−0.193%54s7-day average — · you buy dearer than you sell

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

Long on Kraken Futures 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 against this trade now: funding costs −$31 a day on $10k at the current rate, and Aster is 0.193% cheaper against Kraken Futures than usual: you would sell low and buy high (−$19 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 54 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	Kraken Futures PF_NOTUSD	0.0005053	0.1131	pay 0.0141% / 1h	22m 19s	$49K	$7K	10x
Short	Aster NOTUSDT	0.0005044	0.0100	get 0.0050% / 4h	3h 22m	$14K	$9K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now −0.193%Rate

Funding earned: −$216.58
Price spread: −0.193% → 0.000%: −$19.33
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$253.91
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Kraken Futures: 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Kraken Futures 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.

NOT on 16 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
Variational Omni NOT	−0.0319%	4h	0.0005049	−0.095%	$72K	$38K	—	as long as short
KuCoin NOTUSDTM	−0.0278%	4h	0.0005034	−0.383%	$470K	$128K	50x	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.550%	$1K	$13K	5.5x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005058	+0.082%	$11K	$4K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005050	−0.067%	$356K	$56K	3x	as long as short
Aster NOTUSDTshort	+0.0100%	4h	0.0005044	−0.193%	$14K	$9K	5x
Binance NOTUSDT	+0.0100%	4h	0.0005047	−0.132%	$2.1M	$3.0M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005041	−0.245%	$2.1M	$847K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005046	−0.146%	$639K	$674K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005038	−0.304%	$139K	$70K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005043	−0.205%	$1.4M	$441K	200x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005047	−0.126%	$670K	$415K	50x	as long as short
BingX NOT-USDT	+0.0100%	4h	0.0005045	−0.166%	—	$8.7M	—	as long as short
BloFin NOT-USDT	+0.0104%	4h	0.0005049	−0.086%	$110K	$18K	50x	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005046	−0.138%	$4K	—	5x	as long as short
Kraken Futures PF_NOTUSDlong	+0.1131%	1h	0.0005053	long leg	$49K	$7K	10x