Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0035%/8h= +3.9% APRpaid last 24h +0.017%

Price spread now: Kraken Futures against Aster+0.022%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$180.184% of the position

Long on Aster Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 4 days (all we have)−0.189%−$19 · spread now +0.022%, 7d avg +0.016%

Together, before fees−0.141%+ Points / potential airdropAster: Stage 5 · farm board−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.016%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BTCUSDT	85,489.7	0.0033	pay 0.0033% / 8h	7h 35m	$503.0M	$1.08B	200x
Short	Kraken Futures PF_XBTUSD	85,508.5	0.0068	get 0.0009% / 1h	35m 20s	$186.4M	$937.9M	100x

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 +0.022%Rate

Funding earned: $7.39
Price spread: +0.022% → +0.016%: $0.58
Slippage, 4 orders: −$0.44
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$10.47
Costs to cover: 0.184%
Break-even: 16.9 days

Slippage from Aster: live order book, 4 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, 4 min ago	0.01 bp	4.1 bp −$4	4.5 bp −$45	5.4 bp −$538	6.8 bp −$3,415
Sell Kraken Futures live order book, 4 min ago	0.06 bp	5.2 bp −$5	5.9 bp −$59	7.2 bp −$716	8.5 bp −$4,273

BTC on 56 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
Bluefin BTC-PERP	−0.1657%	1h	85,538.7	+0.057%	$194K	$796K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,510	+0.024%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,494.6	+0.006%	$423.0M	$677.8M	150x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	85,438	−0.061%	$307K	$25.0M	52x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,511.7	+0.026%	$346K	$2.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,512.1	+0.026%	$36.6M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0014%	8h	85,505.9	+0.019%	$938.9M	$777.5M	125x	as long as short
Aster BTCUSDTlong	+0.0033%	8h	85,489.7	long leg	$503.0M	$1.08B	200x
dYdX BTC-USD	+0.0053%	1h	85,512	+0.026%	$16.8M	$21.0M	50x	as long as short
Kraken Futures PF_XBTUSDshort	+0.0068%	1h	85,508.5	+0.022%	$186.4M	$937.9M	100x

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	+0.0075%	1h	85,531	+0.048%	$2.3M	$10.4M	40x	as long as short
BingX BTC-USDT	+0.0080%	8h	85,505	+0.018%	—	$1.57B	—	as long as short
Lighter BTC	+0.0096%	1h	85,505.2	+0.018%	$170.8M	$944.5M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,514.1	+0.028%	$23.6M	$134.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,506	+0.019%	$8.7M	$58.1M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,491	+0.001%	$2.4M	$6.7M	20x	as long as short
Nado BTC-PERP	+0.0097%	1h	85,503.5	+0.016%	$24.1M	$216.0M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,478	−0.014%	$266K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,541.2	+0.060%	$5.7M	$9.6M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,526.7	+0.043%	$40.5M	$604.9M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,497.4	+0.009%	$9.41B	$24.96B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,497.9	+0.010%	$5.09B	$9.92B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,495.9	+0.007%	$2.61B	$12.08B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,503	+0.016%	$3.9M	$17.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,515.6	+0.030%	$4.7M	$97.2M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,499.9	+0.012%	$701.6M	$160.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,509.3	+0.023%	$5.51B	$9.90B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,503.6	+0.016%	$5.06B	$5.74B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	85,495.3	+0.006%	$2.98B	$5.13B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,498	+0.010%	$37.6M	$193.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,485.8	−0.005%	$155.9M	$543.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,465.2	−0.029%	$283.4M	$960.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,496.9	+0.008%	$214.7M	$155.4M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,522	+0.038%	$136.9M	$312.6M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,481	−0.010%	$30.1M	$218.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,576.2	+0.101%	—	$10.2M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,525	+0.041%	$10.9M	$14.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,507.8	+0.021%	$196K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,495.1	+0.006%	$2.7M	$9.8M	100x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,503.9	+0.017%	$3.0M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,495	+0.006%	$59.8M	$336.5M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,501.2	+0.013%	$2.26B	$968.2M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,504.3	+0.017%	$162.6M	$515.3M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,474.4	−0.018%	$45.8M	$240.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,511.4	+0.025%	—	$107.1M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,535.6	+0.054%	$112.0M	$5.43B	50x	as long as short
Derive BTC-PERP	+0.0123%	1h	85,569.1	+0.093%	$28.9M	$52.4M	15x	as long as short
Reya BTCRUSDPERP	+0.0149%	1h	85,484.9	−0.006%	$6.6M	$138.1M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0164%	1h	85,540.6	+0.059%	$828.2M	$1.65B	50x	as long as short
Hyperliquid BTC	+0.0172%	1h	85,592	+0.120%	$3.84B	$5.14B	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0174% / S −0.0149%	1h	85,505.8	+0.019%	$13.0M	—	200x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,528.6	+0.045%	$8.9M	$42.3M	25x	as long as short
Kalshi KXBTCPERP	+0.0194%	8h	85,531	+0.048%	$10.8M	$736.1M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0320%	1h	85,541	+0.060%	$83K	$252K	20x	as long as short
Hibachi BTC/USDT-P	+0.0352%	1h	85,558	+0.080%	$688K	$7.7M	30x	as long as short
Perpl BTC	+0.0447%	43m	85,521	+0.037%	$466K	$18.1M	6.7x	as long as short