Funding arb · Price arb /

ASTER

all ASTER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0127%/8h= −13.9% APRpaid last 24h −0.065%

Price spread now: Bybit against Hyperliquid−0.107%7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$390.394% of the position

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.165%−$17 on $10k

Price spread, last 7 days+0.082%+$8 · spread now −0.107%, 7d avg −0.074%

Together, before fees−0.083%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bybit is 0.033% cheaper against Hyperliquid than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.074%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ASTER	0.7400	0.0227	pay 0.0028% / 1h	54m 26s	$25.7M	$6.7M	5x
Short	Bybit ASTERUSDT	0.7392	0.0100	get 0.0050% / 4h	1h 54m	$49.5M	$22.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.107%Rate

Funding earned: −$26.68
Price spread: −0.107% → −0.074%: −$3.3
Slippage, 4 orders: −$19.43
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$69.42
Costs to cover: 0.394%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; Bybit: 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 Hyperliquid live order book, 9 min ago	1.15 bp	7.4 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.35 bp	12.3 bp −$12	47.5 bp −$475	172.2 bp −$17.2K	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	−0.0136%	1h	0.7390	−0.139%	$251K	$827K	50x	as long as short
Deribit ASTER_USDC-PERPETUAL	−0.0047%	1h	0.7403	+0.039%	$11K	$87K	25x	as long as short
Aster ASTERUSDT	0.0000%	4h	0.7400	−0.004%	$56.6M	$99.9M	200x	as long as short
gTrade (Gains Network) ASTER/USD	L +0.0006% / S −0.0007%	1h	0.7391	−0.123%	$30K	—	150x	as long as short
dYdX ASTER-USD	+0.0014%	1h	0.7403	+0.045%	$13K	$61	5x	as long as short
Injective ASTER/USDC PERP	+0.0023%	1h	0.7410	+0.136%	$9	$96K	5.5x	as long as short
Lighter ASTER	+0.0096%	1h	0.7405	+0.072%	$911K	$849K	5x	as long as short
Nado ASTER-PERP	+0.0100%	1h	0.7397	−0.041%	$370K	$277K	5x	as long as short
Pacifica ASTER	+0.0100%	1h	0.7404	+0.054%	$254K	$108K	10x	as long as short
Binance ASTERUSDT	+0.0100%	4h	0.7391	−0.124%	$90.5M	$107.0M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ASTERUSDTshort	+0.0100%	4h	0.7392	−0.107%	$49.5M	$22.0M	75x
OKX ASTER-USDT-SWAP	+0.0100%	4h	0.7392	−0.107%	$11.9M	$18.4M	50x	as long as short
Gate ASTER_USDT	+0.0100%	4h	0.7396	−0.053%	$6.3M	$5.0M	75x	as long as short
MEXC ASTER_USDT	+0.0100%	4h	0.7398	−0.026%	$33.9M	$16.2M	100x	as long as short
KuCoin ASTERUSDTM	+0.0100%	4h	0.7396	−0.059%	$11.0M	$3.1M	75x	as long as short
Bitget ASTERUSDT	+0.0100%	4h	0.7398	−0.026%	$18.2M	$6.3M	50x	as long as short
BingX ASTER-USDT	+0.0100%	4h	0.7391	−0.120%	—	$9.6M	—	as long as short
Backpack ASTER_USDC_PERP	+0.0100%	1h	0.7405	+0.062%	$265K	$322K	10x	as long as short
Variational Omni ASTER	+0.0100%	4h	0.7395	−0.068%	$2.1M	$363K	—	as long as short
GRVT ASTER_USDT_Perp	+0.0100%	4h	0.7380	−0.266%	$463K	$3.9M	10x	as long as short
ApeX Omni ASTERUSDT	+0.0100%	1h	0.7386	−0.188%	$66K	$716K	50x	as long as short
Orderly PERP_ASTER_USDC	+0.0100%	4h	0.7397	−0.039%	$14K	$845	10x	as long as short
SunX ASTER-USDT	+0.0100%	4h	0.7405	+0.069%	$2K	$1.7M	20x	as long as short
SoDEX ASTER-USD	+0.0100%	1h	0.7401	+0.015%	$13K	$8K	5x	as long as short
HTX ASTER-USDT	+0.0100%	4h	0.7402	+0.028%	$242K	$118K	20x	as long as short
edgeX ASTERUSDC	+0.0100%	4h	0.7387	−0.171%	$213K	$1.9M	10x	as long as short
Extended ASTER-USD	+0.0104%	1h	0.7401	+0.012%	$376K	$635K	25x	as long as short
01 Exchange ASTERUSD	+0.0144%	1h	0.7402	+0.028%	$8K	$4K	10x	as long as short
Kraken Futures PF_ASTERUSD	+0.0147%	1h	0.7406	+0.077%	$285K	$420K	20x	as long as short
Hyperliquid ASTERlong	+0.0227%	1h	0.7400	long leg	$25.7M	$6.7M	5x
GMX ASTER/USD [WBTC.b-USDC]	L +0.0304% / S −0.0215%	1h	0.7392	−0.104%	$28K	—	100x	as long as short
BloFin ASTER-USDT	+0.0340%	4h	0.7399	−0.012%	$3.5M	$1.8M	75x	as long as short