Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0283%/8h= −31.0% APRpaid last 24h −0.011%

Price spread now: Aster against Hyperliquid−0.133%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid 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 airdropHyperliquid: Season 2 · Aster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Aster is 0.133% cheaper against Hyperliquid than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid STABLE	0.02474	0.0100	pay 0.0013% / 1h	55m 19s	$873K	$235K	3x
Short	Aster STABLEUSDT	0.02471	−0.0183	pay 0.0091% / 4h	2h 55m	$19K	$7K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hyperliquid. 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 HyperliquidbpFee AsterbpOrdersPrice spread, now −0.133%Rate

Funding earned: −$59.42
Price spread: −0.133% → 0.000%: −$13.33
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$89.75
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 29 min ago; 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 Hyperliquid live order book, 29 min ago	6.87 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

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.

STABLE on 15 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
Aster STABLEUSDTshort	−0.0183%	4h	0.02471	−0.133%	$19K	$7K	20x
Lighter STABLE	+0.0096%	1h	0.02490	+0.630%	$115K	$3K	3x	as long as short
Hyperliquid STABLElong	+0.0100%	1h	0.02474	long leg	$873K	$235K	3x
Binance STABLEUSDT	+0.0100%	4h	0.02474	−0.029%	$2.4M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02476	+0.073%	$1.5M	$819K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02474	−0.020%	$204K	$417K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02474	−0.020%	$171K	$87K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02474	−0.020%	$660K	$156K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02479	+0.182%	$174K	$27K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02476	+0.061%	$291K	$117K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02476	+0.061%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02475	+0.040%	$145K	$51K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02473	−0.081%	$1K	$642K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02474	−0.032%	$12K	$175K	10x	as long as short
BloFin STABLE-USDT	+0.0149%	4h	0.02471	−0.141%	$114K	$8K	75x	as long as short