Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0298%/8h= −32.6% APRpaid last 24h −0.004%

Price spread now: GMX against Aster+0.125%7-day average — · you sell dearer than you buy

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

Long on Aster Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. GMX is 0.125% dearer against Aster than usual: you sell high and buy low (spread +0.125% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SUSDT	0.03961	0.0100	pay 0.0050% / 4h	3h 29m	$47K	$142K	10x
Short	GMX S/USD [WBTC.b-USDC]	0.03966	L −0.0206% / S +0.0198%	pay 0.0025% / 1h	29m 04s	$1K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.125%Rate

Funding earned: −$62.59
Price spread: +0.125% → 0.000%: $12.52
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: −$70.07
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 22 min ago; GMX: 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, 22 min ago	13.72 bp	71.7 bp −$72	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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.

S on 25 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
01 Exchange SUSD	−0.2456%	1h	0.03840	−3.066%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2245%	1h	0.03968	+0.158%	$33K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1344%	1h	0.03927	−0.869%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]short	L −0.0206% / S +0.0198%	1h	0.03966	+0.125%	$1K	—	100x
Reya SRUSDPERP	−0.0101%	1h	0.03967	+0.141%	$4	—	15x	as long as short
Variational Omni S	−0.0038%	4h	0.03964	+0.072%	$613K	$30K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03967	+0.136%	$611	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.498%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0081%	4h	0.03968	+0.166%	$98K	$288K	10x	as long as short
Lighter S	+0.0096%	1h	0.03972	+0.267%	$167K	$156K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03967	+0.145%	$994K	$592K	5x	as long as short
Aster SUSDTlong	+0.0100%	4h	0.03961	long leg	$47K	$142K	10x
Binance SUSDT	+0.0100%	4h	0.03962	+0.014%	$5.5M	$13.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03955	−0.163%	$5.7M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03959	−0.062%	$982K	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03965	+0.090%	$323K	$189K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03969	+0.191%	$3.6M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03968	+0.166%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03963	+0.039%	$1.2M	$2.2M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03966	+0.115%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03960	−0.036%	$20K	$462K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03958	−0.084%	$225K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03976	+0.367%	$274K	$102K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.1011%	1h	0.03971	+0.241%	$67K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1582%	1h	0.03970	+0.216%	$115K	$422K	5x	as long as short