Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0014%/8h= +1.6% APRpaid last 24h +0.030%

Price spread now: Aster against Backpack−0.123%45s7-day average +0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$740.745% of the position

Long on Backpack Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.077%+$8 on $10k

Price spread, last 4 days (all we have)+0.307%+$31 · spread now −0.123%, 7d avg +0.038%

Together, before fees+0.383%+ Points / potential airdropAster: Stage 5 · farm board+$38 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.161% cheaper against Backpack than usual: you would sell low and buy high (spread −0.123% now, against its 7-day average of +0.038%). If the spread goes back, that is −$16 on $10k: about 38 days of funding at the current rate ($0 a day). At the pace of the last 5 days (+0.077% in total) that is about 11 days. The two prices were read 45 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	Backpack TIA_USDC_PERP	0.4378	0.0086	pay 0.0011% / 1h	58m 26s	$101K	$153K	10x
Short	Aster TIAUSDT	0.4373	0.0100	get 0.0050% / 4h	3h 58m	$34K	$268K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Backpack. 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 BackpackbpFee AsterbpOrdersPrice spread, now −0.123%Rate

Funding earned: $3
Price spread: −0.123% → +0.038%: −$16.13
Slippage, 4 orders: −$56.47
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$87.6
Costs to cover: 0.745%
Break-even: 211.4 days

Slippage from Backpack: live order book, 15 min ago; Aster: live order book, 13 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 Backpack live order book, 15 min ago	1.15 bp	11.9 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 13 min ago	5.74 bp	35.4 bp −$35	doesn't fit	doesn't fit	doesn't fit

TIA on 27 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
Bybit TIAUSDT	−0.1264%	4h	0.4368	−0.238%	$9.6M	$13.2M	50x	as long as short
OKX TIA-USDT-SWAP	−0.0212%	4h	0.4369	−0.215%	$2.8M	$6.1M	50x	as long as short
Deribit TIA_USDC-PERPETUAL	−0.0206%	1h	0.4380	+0.037%	$30K	$27K	25x	as long as short
Kraken Futures PF_TIAUSD	−0.0153%	1h	0.4382	+0.089%	$360K	$246K	50x	as long as short
Gate TIA_USDT	−0.0076%	4h	0.4376	−0.055%	$982K	$1.8M	75x	as long as short
KuCoin TIAUSDTM	−0.0052%	4h	0.4371	−0.169%	$4.2M	$8.8M	50x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4374	−0.095%	$1K	—	150x	as long as short
ApeX Omni TIAUSDT	+0.0072%	1h	0.4384	+0.128%	$49K	$234K	50x	as long as short
Backpack TIA_USDC_PERPlong	+0.0086%	1h	0.4378	long leg	$101K	$153K	10x
Lighter TIA	+0.0096%	1h	0.4377	−0.030%	$139K	$359K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TIA_USDC	+0.0098%	4h	0.4380	+0.037%	$5K	$364K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4380	+0.032%	$4.5M	$1.6M	5x	as long as short
Aster TIAUSDTshort	+0.0100%	4h	0.4373	−0.123%	$34K	$268K	10x
Binance TIAUSDT	+0.0100%	4h	0.4372	−0.146%	$14.6M	$42.1M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4373	−0.123%	$13.3M	$6.7M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4375	−0.078%	$4.5M	$3.5M	75x	as long as short
BingX TIA-USDC	+0.0100%	4h	0.4370	−0.192%	—	$6.5M	—	as long as short
Variational Omni TIA	+0.0100%	4h	0.4383	+0.103%	$102K	$84K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4382	+0.082%	$58K	$68K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4371	−0.165%	$56K	$169K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4381	+0.071%	$7K	—	3x	as long as short
Injective TIA/USDC PERP	+0.0117%	1h	0.4381	+0.059%	$27K	$10K	12x	as long as short
Reya TIARUSDPERP	+0.0179%	1h	0.4370	−0.182%	$6K	—	15x	as long as short
Coinbase International TIA-PERP-INTX	+0.0256%	1h	0.4389	+0.242%	$51K	$77K	50x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4379	+0.014%	$1.2M	$578K	75x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0460% / S −0.3505%	1h	0.4375	−0.077%	$36K	—	100x	as long as short
dYdX TIA-USD	+0.0814%	1h	0.4375	−0.078%	$52K	$59	10x	as long as short