Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.032%

Price spread now: Aster against Hyperliquid+0.043%7-day average −0.132% · 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−$62as in the Price arb table

costs, in and out, $10k−$800.796% of the position

Long on Hyperliquid Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.108%−$11 on $10k

Price spread, last 4 days (all we have)−0.067%−$7 · spread now +0.043%, 7d avg −0.132%

Together, before fees−0.175%+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm board−$18 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 0.175% dearer against Hyperliquid than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.132%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid AR	4.4711	0.0100	pay 0.0013% / 1h	56m 46s	$3.8M	$5.0M	5x
Short	Aster ARUSDT	4.4730	0.0100	get 0.0100% / 8h	2h 56m	$20K	$639K	10x

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 +0.043%Rate

Funding earned: $0
Price spread: +0.043% → −0.132%: $17.53
Slippage, 4 orders: −$62.65
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$62.12
Costs to cover: 0.796%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; Aster: live order book, 30 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 Hyperliquid live order book, 5 min ago	2.78 bp	9.4 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 30 min ago	7.76 bp	23.1 bp −$23	doesn't fit	doesn't fit	doesn't fit

AR on 17 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_ARUSD	−0.2007%	1h	4.4702	−0.019%	$46K	$155K	20x	as long as short
GMX AR/USD [WBTC.b-USDC]	L −0.0140% / S +0.0551%	1h	4.4674	−0.084%	$575K	—	50x	as long as short
Injective AR/USDC PERP	+0.0033%	1h	4.5720	+2.257%	$3K	$363	5.5x	as long as short
Hyperliquid ARlong	+0.0100%	1h	4.4711	long leg	$3.8M	$5.0M	5x
Aster ARUSDTshort	+0.0100%	8h	4.4730	+0.043%	$20K	$639K	10x
Binance ARUSDT	+0.0100%	8h	4.4654	−0.128%	$8.8M	$57.4M	75x	as long as short
Bybit ARUSDT	+0.0100%	8h	4.4660	−0.114%	$4.6M	$9.1M	75x	as long as short
OKX AR-USDT-SWAP	+0.0100%	8h	4.4620	−0.204%	$2.2M	$21.0M	20x	as long as short
Gate AR_USDT	+0.0100%	8h	4.4680	−0.069%	$2.5M	$2.3M	50x	as long as short
MEXC AR_USDT	+0.0100%	8h	4.4660	−0.114%	$6.6M	$4.7M	100x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ARUSDTM	+0.0100%	8h	4.4720	+0.020%	$1.4M	$1.2M	50x	as long as short
Bitget ARUSDT	+0.0100%	8h	4.4620	−0.204%	$3.8M	$5.7M	75x	as long as short
BingX AR-USDT	+0.0100%	8h	4.4650	−0.136%	—	$2.9M	—	as long as short
Variational Omni AR	+0.0100%	8h	4.4906	+0.435%	$137K	$173K	—	as long as short
ApeX Omni ARUSDT	+0.0100%	1h	4.4940	+0.512%	$57K	$748K	50x	as long as short
Extended AR-USD	+0.0104%	1h	4.4655	−0.126%	$36K	$237K	10x	as long as short
BloFin AR-USDT	+0.0220%	8h	4.4630	−0.181%	$421K	$674K	20x	as long as short