ASTER

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0391%/8h= +42.8% APRnext payment +$0.49 per $10,000 · paid last 24h +0.046%

Price spread now: Hyperliquid against Backpack+0.103%7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$300.300% of the position

Long on Backpack Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 4 days (all we have)+0.208%+$21 · spread now +0.103%, 7d avg +0.067%

Together, before fees+0.299%+ Points / potential airdropHyperliquid: Season 2 · farm board+$30 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 Hyperliquid is 0.036% dearer against Backpack than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.067%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.091% in total (about 4.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.49 per $10,000. 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	Backpack ASTER_USDC_PERP	0.7404	0.0100	pay 0.0013% / 1h	41m 16s	$265K	$323K	10x
Short	Hyperliquid ASTER	0.7412	0.0491	get 0.0061% / 1h	41m 16s	$26.0M	$6.8M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.103%Rate

Funding earned: $82.15
Price spread: +0.103% → +0.067%: $3.56
Slippage, 4 orders: −$11.03
Fee Backpack: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $55.68
Costs to cover: 0.300%
Break-even: 2.3 days

Slippage from Backpack: live order book, 47 min ago; Hyperliquid: live order book, 12 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, 47 min ago	0.07 bp	7.7 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 12 min ago	1.22 bp	8.3 bp −$8	doesn't fit	doesn't fit	doesn't fit

ASTER on 32 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
Coinbase International ASTER-PERP-INTX	−0.0160%	1h	0.7400	−0.055%	$252K	$831K	50x	as long as short
Deribit ASTER_USDC-PERPETUAL	−0.0101%	1h	0.7403	−0.019%	$11K	$102K	25x	as long as short
Injective ASTER/USDC PERP	−0.0072%	1h	0.7377	−0.367%	$9	$54K	5.5x	as long as short
Aster ASTERUSDT	0.0000%	4h	0.7402	−0.030%	$56.8M	$99.7M	200x	as long as short
dYdX ASTER-USD	+0.0006%	1h	0.7401	−0.047%	$13K	$61	5x	as long as short
gTrade (Gains Network) ASTER/USD	L +0.0006% / S −0.0007%	1h	0.7400	−0.052%	$30K	—	150x	as long as short
Lighter ASTER	+0.0096%	1h	0.7405	+0.014%	$910K	$836K	5x	as long as short
Orderly PERP_ASTER_USDC	+0.0099%	4h	0.7407	+0.038%	$14K	$845	10x	as long as short
Nado ASTER-PERP	+0.0100%	1h	0.7400	−0.053%	$368K	$280K	5x	as long as short
Pacifica ASTER	+0.0100%	1h	0.7403	−0.015%	$254K	$109K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ASTERUSDT	+0.0100%	4h	0.7401	−0.043%	$90.7M	$105.9M	75x	as long as short
Bybit ASTERUSDT	+0.0100%	4h	0.7403	−0.016%	$49.4M	$21.9M	75x	as long as short
OKX ASTER-USDT-SWAP	+0.0100%	4h	0.7400	−0.057%	$11.9M	$18.4M	50x	as long as short
Gate ASTER_USDT	+0.0100%	4h	0.7402	−0.030%	$6.3M	$5.0M	75x	as long as short
MEXC ASTER_USDT	+0.0100%	4h	0.7401	−0.043%	$33.8M	$16.2M	100x	as long as short
KuCoin ASTERUSDTM	+0.0100%	4h	0.7403	−0.022%	$10.9M	$3.1M	75x	as long as short
Bitget ASTERUSDT	+0.0100%	4h	0.7400	−0.057%	$18.1M	$6.1M	50x	as long as short
BingX ASTER-USDT	+0.0100%	4h	0.7400	−0.057%	—	$9.6M	—	as long as short
Backpack ASTER_USDC_PERPlong	+0.0100%	1h	0.7404	long leg	$265K	$323K	10x
Variational Omni ASTER	+0.0100%	4h	0.7393	−0.158%	$2.1M	$363K	—	as long as short
GRVT ASTER_USDT_Perp	+0.0100%	4h	0.7398	−0.084%	$457K	$4.0M	10x	as long as short
ApeX Omni ASTERUSDT	+0.0100%	1h	0.7398	−0.084%	$66K	$715K	50x	as long as short
SunX ASTER-USDT	+0.0100%	4h	0.7407	+0.038%	$2K	$1.7M	20x	as long as short
SoDEX ASTER-USD	+0.0100%	1h	0.7401	−0.043%	$13K	$8K	5x	as long as short
HTX ASTER-USDT	+0.0100%	4h	0.7401	−0.043%	$242K	$118K	20x	as long as short
Extended ASTER-USD	+0.0104%	1h	0.7400	−0.063%	$376K	$635K	25x	as long as short
edgeX ASTERUSDC	+0.0116%	4h	0.7396	−0.108%	$213K	$1.9M	10x	as long as short
01 Exchange ASTERUSD	+0.0184%	1h	0.7402	−0.030%	$8K	$4K	10x	as long as short
Kraken Futures PF_ASTERUSD	+0.0262%	1h	0.7405	+0.017%	$285K	$419K	20x	as long as short
GMX ASTER/USD [WBTC.b-USDC]	L +0.0304% / S −0.0215%	1h	0.7401	−0.037%	$28K	—	100x	as long as short
BloFin ASTER-USDT	+0.0340%	4h	0.7401	−0.043%	$3.5M	$1.8M	75x	as long as short
Hyperliquid ASTERshort	+0.0491%	1h	0.7412	+0.103%	$26.0M	$6.8M	5x