Funding arb · Price arb /

VIRTUAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0385%/8h= +42.1% APRpaid last 24h +0.093%

Price spread now: Kraken Futures against Aster+0.269%54s7-day average +0.040% · 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—prices read too far apart to compare

costs, in and out, $10k−$870.866% of the position

Long on Aster Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.041%+$4 on $10k

Price spread, last 4 days (all we have)−0.225%−$22 · spread now +0.269%, 7d avg +0.040%

Together, before fees−0.184%+ Points / potential airdropAster: Stage 5 · farm board−$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Kraken Futures is 0.228% dearer against Aster than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of +0.040%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 6 days it paid 0.041% in total (about 2.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster VIRTUALUSDT	0.7198	0.0100	pay 0.0050% / 4h	3h 49m	$96K	$292K	20x
Short	Kraken Futures PF_VIRTUALUSD	0.7217	0.0485	get 0.0061% / 1h	49m 28s	$595K	$667K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.269%Rate

Funding earned: $80.79
Price spread: +0.269% → +0.040%: $22.83
Slippage, 4 orders: −$68.63
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $17
Costs to cover: 0.866%
Break-even: 5.5 days

Slippage from Aster: live order book, 2 min ago; Kraken Futures: live order book, 4 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 Aster live order book, 2 min ago	8.29 bp	18.8 bp −$19	144.0 bp −$1,440	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	17.27 bp	22.6 bp −$23	53.5 bp −$535	doesn't fit	doesn't fit

VIRTUAL on 33 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
Deribit VIRTUAL_USDC-PERPETUAL	−0.0443%	1h	0.7207	+0.127%	$15K	$40K	10x	as long as short
Reya VIRTUALRUSDPERP	−0.0139%	1h	0.7193	−0.073%	$24	—	10x	as long as short
01 Exchange VIRTUALUSD	−0.0080%	1h	0.7191	−0.096%	$2K	$131	10x	as long as short
Lighter VIRTUAL	−0.0048%	1h	0.7192	−0.085%	$328K	$406K	5x	as long as short
Phoenix VIRTUAL	−0.0022%	1h	0.7219	+0.292%	$11K	$37K	5x	as long as short
gTrade (Gains Network) VIRTUAL/USD	L +0.0007% / S −0.0005%	1h	0.7197	−0.018%	$14K	—	150x	as long as short
Injective VIRTUAL/USDC PERP	+0.0033%	1h	0.7117	−1.124%	$46	$88K	5.5x	as long as short
Orderly PERP_VIRTUAL_USDC	+0.0092%	4h	0.7193	−0.068%	$14K	$1.4M	10x	as long as short
Hyperliquid VIRTUAL	+0.0100%	1h	0.7202	+0.059%	$8.8M	$4.1M	5x	as long as short
Aster VIRTUALUSDTlong	+0.0100%	4h	0.7198	long leg	$96K	$292K	20x

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica VIRTUAL	+0.0100%	1h	0.7202	+0.057%	$71K	$43K	5x	as long as short
Binance VIRTUALUSDT	+0.0100%	4h	0.7192	−0.082%	$16.3M	$40.8M	75x	as long as short
Bybit VIRTUALUSDT	+0.0100%	4h	0.7193	−0.068%	$16.6M	$18.5M	50x	as long as short
OKX VIRTUAL-USDT-SWAP	+0.0100%	4h	0.7197	−0.012%	$2.9M	$10.0M	20x	as long as short
Gate VIRTUAL_USDT	+0.0100%	4h	0.7196	−0.026%	$1.5M	$3.3M	75x	as long as short
MEXC VIRTUAL_USDT	+0.0100%	4h	0.7194	−0.054%	$17.1M	$4.6M	100x	as long as short
KuCoin VIRTUALUSDTM	+0.0100%	4h	0.7197	−0.012%	$3.0M	$4.3M	50x	as long as short
Bitget VIRTUALUSDT	+0.0100%	4h	0.7198	+0.002%	$6.2M	$5.9M	25x	as long as short
BingX VIRTUAL-USDT	+0.0100%	4h	0.7194	−0.054%	—	$7.9M	—	as long as short
Backpack VIRTUAL_USDC_PERP	+0.0100%	1h	0.7213	+0.210%	$240K	$210K	10x	as long as short
Variational Omni VIRTUAL	+0.0100%	4h	0.7228	+0.415%	$540K	$913K	—	as long as short
edgeX VIRTUALUSDC	+0.0100%	4h	0.7219	+0.293%	$19K	$261K	10x	as long as short
GRVT VIRTUAL_USDT_Perp	+0.0100%	4h	0.7232	+0.474%	$638K	$924K	10x	as long as short
ApeX Omni VIRTUALUSDT	+0.0100%	1h	0.7229	+0.432%	$41K	$238K	50x	as long as short
Polymarket Perps VIRTUAL-USD	+0.0100%	1h	0.7197	−0.014%	$55K	$1.1M	5x	as long as short
SunX VIRTUAL-USDT	+0.0100%	4h	0.7214	+0.224%	$1K	$1.3M	20x	as long as short
SoDEX VIRTUAL-USD	+0.0100%	1h	0.7209	+0.154%	$1K	$9K	5x	as long as short
Extended VIRTUAL-USD	+0.0104%	1h	0.7192	−0.085%	$57K	$268K	10x	as long as short
Aevo VIRTUAL-PERP	+0.0104%	1h	0.7207	+0.123%	$18K	—	3x	as long as short
GMX VIRTUAL/USD [WBTC.b-USDC]	L +0.0299% / S −0.0228%	1h	0.7196	−0.026%	$30K	—	100x	as long as short
BloFin VIRTUAL-USDT	+0.0340%	4h	0.7219	+0.293%	$798K	$912K	75x	as long as short
Coinbase International VIRTUAL-PERP-INTX	+0.0440%	1h	0.7242	+0.613%	$202K	$106K	50x	as long as short
Kraken Futures PF_VIRTUALUSDshort	+0.0485%	1h	0.7217	+0.269%	$595K	$667K	50x