Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.053%

Price spread now: Aster against Bybit+0.220%7-day average +0.139% · 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−$180as in the Price arb table

costs, in and out, $10k−$1881.879% of the position

Long on Bybit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.288%−$29 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now +0.220%, 7d avg +0.139%

Together, before fees−0.256%+ Points / potential airdropAster: Stage 5 · farm board−$26 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 0.081% dearer against Bybit than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.139%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SUSDT	0.04447	0.0100	pay 0.0050% / 4h	3h 03m	$6.4M	$5.0M	50x
Short	Aster SUSDT	0.04457	0.0100	get 0.0050% / 4h	3h 03m	$47K	$189K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bybit. 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 BybitbpFee AsterbpOrdersPrice spread, now +0.220%Rate

Funding earned: $0
Price spread: +0.220% → +0.139%: $8.07
Slippage, 4 orders: −$168.85
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aster: 4 bp × 2 orders: −$8
Net: −$179.79
Costs to cover: 1.879%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Aster: live order book, 28 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 Bybit live order book, 5 min ago	5.70 bp	33.3 bp −$33	150.6 bp −$1,506	doesn't fit	doesn't fit
Sell Aster live order book, 28 min ago	13.90 bp	42.1 bp −$42	doesn't fit	doesn't fit	doesn't fit

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
Kraken Futures PF_SUSD	−0.2565%	1h	0.04424	−0.517%	$38K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1248%	1h	0.04308	−3.126%	$53K	$18K	25x	as long as short
01 Exchange SUSD	−0.1112%	1h	0.04540	+2.091%	$27K	$3K	5x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04455	+0.182%	$2K	—	100x	as long as short
Variational Omni S	−0.0107%	4h	0.04352	−2.141%	$676K	$7K	—	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04450	+0.062%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04457	+0.235%	$687	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	−7.803%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0065%	4h	0.04458	+0.247%	$111K	$646K	10x	as long as short
Lighter S	+0.0096%	1h	0.04461	+0.315%	$155K	$150K	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	0.04455	+0.175%	$1.1M	$779K	5x	as long as short
Aster SUSDTshort	+0.0100%	4h	0.04457	+0.220%	$47K	$189K	10x
Binance SUSDT	+0.0100%	4h	0.04455	+0.179%	$6.5M	$18.2M	75x	as long as short
Bybit SUSDTlong	+0.0100%	4h	0.04447	long leg	$6.4M	$5.0M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.04448	+0.022%	$1.3M	$5.4M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04456	+0.202%	$376K	$238K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04456	+0.202%	$4.5M	$2.5M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04457	+0.225%	$2.1M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04457	+0.225%	$1.3M	$2.8M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04454	+0.157%	—	$7.0M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04370	−1.732%	$25K	$516K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04449	+0.041%	$244K	$1.3M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04456	+0.202%	$322K	$203K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0647%	1h	0.04462	+0.337%	$75K	$512	10x	as long as short
Backpack S_USDC_PERP	+0.0881%	1h	0.04450	+0.067%	$105K	$473K	5x	as long as short