Funding arb · Price arb /

ASTER

all ASTER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.023%

Price spread now: Bybit against Injective−2.138%48s7-day average +0.052% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 4 days (all we have)+2.641%+$264 · spread now −2.138%, 7d avg +0.052%

Together, before fees+2.704%+$270 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 2.190% cheaper against Injective than usual: you would sell low and buy high (spread −2.138% now, against its 7-day average of +0.052%). If the spread goes back, that is −$219 on $10k: about 4 months of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.063% in total) that is about 8 months. The two prices were read 48 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	Injective ASTER/USDC PERP	0.7390	0.0033	pay 0.0004% / 1h	48m 30s	$9	$133K	5.5x
Short	Bybit ASTERUSDT	0.7232	0.0100	get 0.0050% / 4h	48m 30s	$48.4M	$24.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee BybitbpOrdersPrice spread, now −2.138%Rate

Funding earned: $14
Price spread: −2.138% → +0.052%: −$218.97
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$215.99
Costs to cover: 0.110%
Break-even: 115.0 days

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 5 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	1.36 bp	13.5 bp −$13	47.7 bp −$477	144.7 bp −$14.5K	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Deribit ASTER_USDC-PERPETUAL	−0.0175%	1h	0.7299	−1.234%	$11K	$71K	25x	as long as short
Coinbase International ASTER-PERP-INTX	−0.0072%	1h	0.7328	−0.844%	$277K	$883K	50x	as long as short
Aster ASTERUSDT	0.0000%	4h	0.7277	−1.534%	$54.1M	$106.3M	200x	as long as short
dYdX ASTER-USD	0.0000%	1h	0.7223	−2.263%	$14K	$1K	5x	as long as short
gTrade (Gains Network) ASTER/USD	L +0.0006% / S −0.0003%	1h	0.7242	−2.002%	$28K	—	150x	as long as short
Injective ASTER/USDC PERPlong	+0.0033%	1h	0.7390	long leg	$9	$133K	5.5x
Orderly PERP_ASTER_USDC	+0.0077%	4h	0.7307	−1.123%	$14K	$845	10x	as long as short
Lighter ASTER	+0.0096%	1h	0.7236	−2.084%	$876K	$910K	5x	as long as short
01 Exchange ASTERUSD	+0.0096%	1h	0.7231	−2.152%	$8K	$4K	10x	as long as short
Nado ASTER-PERP	+0.0100%	1h	0.7234	−2.113%	$364K	$259K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ASTER	+0.0100%	1h	0.7236	−2.083%	$251K	$73K	10x	as long as short
Binance ASTERUSDT	+0.0100%	4h	0.7229	−2.179%	$89.0M	$113.8M	75x	as long as short
Bybit ASTERUSDTshort	+0.0100%	4h	0.7232	−2.138%	$48.4M	$24.0M	75x
OKX ASTER-USDT-SWAP	+0.0100%	4h	0.7233	−2.124%	$12.1M	$19.0M	50x	as long as short
Gate ASTER_USDT	+0.0100%	4h	0.7224	−2.246%	$6.3M	$5.3M	75x	as long as short
MEXC ASTER_USDT	+0.0100%	4h	0.7236	−2.084%	$33.2M	$18.3M	100x	as long as short
KuCoin ASTERUSDTM	+0.0100%	4h	0.7232	−2.131%	$10.7M	$3.2M	75x	as long as short
Bitget ASTERUSDT	+0.0100%	4h	0.7234	−2.111%	$17.8M	$7.1M	50x	as long as short
BingX ASTER-USDT	+0.0100%	4h	0.7230	−2.165%	—	$9.6M	—	as long as short
Backpack ASTER_USDC_PERP	+0.0100%	1h	0.7289	−1.371%	$214K	$485K	10x	as long as short
Variational Omni ASTER	+0.0100%	4h	0.7305	−1.154%	$2.1M	$389K	—	as long as short
GRVT ASTER_USDT_Perp	+0.0100%	4h	0.7337	−0.717%	$449K	$3.8M	10x	as long as short
ApeX Omni ASTERUSDT	+0.0100%	1h	0.7310	−1.083%	$84K	$722K	50x	as long as short
SunX ASTER-USDT	+0.0100%	4h	0.7296	−1.272%	$2K	$1.7M	20x	as long as short
SoDEX ASTER-USD	+0.0100%	1h	0.7289	−1.367%	$13K	$8K	5x	as long as short
HTX ASTER-USDT	+0.0100%	4h	0.7290	−1.353%	$241K	$118K	20x	as long as short
Extended ASTER-USD	+0.0104%	1h	0.7230	−2.159%	$361K	$638K	25x	as long as short
edgeX ASTERUSDC	+0.0108%	4h	0.7336	−0.725%	$213K	$2.0M	10x	as long as short
Hyperliquid ASTER	+0.0137%	1h	0.7241	−2.022%	$25.1M	$6.7M	5x	as long as short
Kraken Futures PF_ASTERUSD	+0.0283%	1h	0.7291	−1.338%	$330K	$497K	20x	as long as short
GMX ASTER/USD [WBTC.b-USDC]	L +0.0304% / S −0.0215%	1h	0.7302	−1.191%	$28K	—	100x	as long as short
BloFin ASTER-USDT	+0.0340%	4h	0.7286	−1.407%	$3.5M	$1.8M	75x	as long as short