Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.104%

Price spread now: Aster against Injective−2.289%7-day average — · you buy dearer than you sell

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

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Aster is 2.289% cheaper against Injective than usual: you would sell low and buy high (spread −2.289% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$229 on $10k: about 4 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective S/USDC PERP	0.04100	0.0033	pay 0.0004% / 1h	9m 14s	$2K	$37K	12x
Short	Aster SUSDT	0.04006	0.0100	get 0.0050% / 4h	3h 09m	$44K	$141K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now −2.289%Rate

Funding earned: $14
Price spread: −2.289% → 0.000%: −$228.92
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: −$222.94
Costs to cover: 0.080%
Break-even: 118.5 days

Slippage unknown: Injective: no order-book sample; Aster: live order book, 62 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Aster live order book, 62 min ago	40.58 bp	63.5 bp −$64	doesn't fit	doesn't fit	doesn't fit

Injective: 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
Kraken Futures PF_SUSD	−0.2018%	1h	0.04003	−2.378%	$34K	$23K	10x	as long as short
01 Exchange SUSD	−0.1760%	1h	0.04000	−2.439%	$25K	$2K	5x	as long as short
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03959	−3.439%	$49K	$5K	25x	as long as short
Variational Omni S	−0.0682%	4h	0.03997	−2.516%	$621K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04005	−2.317%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04002	−2.387%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04004	−2.333%	$617	—	150x	as long as short
Orderly PERP_S_USDC	+0.0025%	4h	0.04003	−2.366%	$102K	$331K	10x	as long as short
Injective S/USDC PERPlong	+0.0033%	1h	0.04100	long leg	$2K	$37K	12x
Lighter S	+0.0096%	1h	0.04008	−2.244%	$164K	$192K	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	0.04004	−2.344%	$1.0M	$621K	5x	as long as short
Aster SUSDTshort	+0.0100%	4h	0.04006	−2.289%	$44K	$141K	10x
Binance SUSDT	+0.0100%	4h	0.04003	−2.355%	$5.5M	$15.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04000	−2.439%	$5.7M	$4.9M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04002	−2.390%	$983K	$4.5M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04002	−2.390%	$327K	$218K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04004	−2.341%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04007	−2.268%	$1.9M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04006	−2.293%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04003	−2.366%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04000	−2.439%	$26K	$445K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04002	−2.388%	$224K	$1.1M	10x	as long as short
Backpack S_USDC_PERP	+0.0259%	1h	0.04010	−2.195%	$117K	$325K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04004	−2.341%	$271K	$127K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0499%	1h	0.04008	−2.244%	$67K	$10K	10x	as long as short