Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0086%/8h= −9.5% APRpaid last 24h −0.016%

Price spread now: Aster against Jupiter Perps−0.022%7-day average −0.009% · you buy dearer than you sell

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

Long on Jupiter Perps Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.027%−$3 on $10k

Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.022%, 7d avg −0.009%

Together, before fees+0.035%+ Points / potential airdropAster: Stage 5 · farm board+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Jupiter Perps WBTC-PERP	85,643.7	L +0.0104% / S +0.0056%	pay 0.0013% / 1h	35m 14s	—	$105.9M	500x
Short	Aster BTCUSDT	85,625.2	0.0018	get 0.0018% / 8h	5h 35m	$515.9M	$1.11B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Jupiter Perps. 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 Jupiter PerpsbpFee AsterbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$18.15
Price spread: −0.022% → −0.009%: −$1.29
Slippage, 4 orders: no order book: not counted
Fee Jupiter Perps: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$39.44
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Jupiter Perps: no order-book sample; Aster: live order book, 4 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 Jupiter Perps no order-book sample	—	—	—	—	—
Sell Aster live order book, 4 min ago	0.01 bp	4.0 bp −$4	4.7 bp −$47	7.3 bp −$727	12.9 bp −$6,440

Jupiter Perps: 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.

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
Phoenix BTC	−0.0160%	1h	85,602	−0.049%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,627	−0.019%	$8K	$3K	50x	as long as short
Bluefin BTC-PERP	−0.0058%	1h	85,693.6	+0.058%	$196K	$722K	40x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,612.4	−0.037%	$370K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0034%	8h	85,650	+0.007%	$416.1M	$663.9M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,640.3	−0.004%	$16.8M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,658	+0.017%	$36.7M	—	200x	as long as short
Nado BTC-PERP	+0.0010%	1h	85,615.1	−0.033%	$22.9M	$221.3M	50x	as long as short
KuCoin XBTUSDTM	+0.0011%	8h	85,637.2	−0.008%	$917.3M	$753.1M	125x	as long as short
Aster BTCUSDTshort	+0.0018%	8h	85,625.2	−0.022%	$515.9M	$1.11B	200x

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0054%	8h	85,639.5	−0.005%	—	$17.1M	—	as long as short
HTX BTC-USDT	+0.0066%	8h	85,625.9	−0.021%	$2.27B	$933.7M	200x	as long as short
Reya BTCRUSDPERP	+0.0068%	1h	85,641.3	−0.003%	$6.7M	$146.4M	40x	as long as short
Bitget BTCUSDT	+0.0068%	8h	85,651.6	+0.009%	$2.95B	$5.02B	150x	as long as short
Phemex BTCUSDT	+0.0075%	8h	85,653.5	+0.011%	$148.1M	$479.1M	150x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,578	−0.077%	$340K	$26.9M	52x	as long as short
SunX BTC-USDT	+0.0080%	8h	85,595.3	−0.057%	$2.9M	$6.1M	100x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,647.6	+0.005%	$2.5M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0085%	8h	85,636.8	−0.008%	$5.05B	$5.61B	500x	as long as short
Binance BTCUSDT	+0.0086%	8h	85,654.2	+0.012%	$9.35B	$23.89B	150x	as long as short
Deribit BTC-PERPETUAL	+0.0089%	1h	85,693.2	+0.058%	$893.1M	$1.52B	50x	as long as short
Lighter BTC	+0.0096%	1h	85,650.8	+0.008%	$169.9M	$988.9M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,660	+0.019%	$23.9M	$148.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,616	−0.032%	$8.4M	$51.9M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,650.5	+0.008%	$3.8M	$8.3M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,587	−0.066%	$197K	$7.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,717	+0.086%	$3.78B	$4.94B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,636.9	−0.008%	$40.5M	$573.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,643.1	−0.001%	$5.33B	$9.59B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,659.8	+0.019%	$2.57B	$12.12B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,618	−0.030%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,578.8	−0.076%	$7.2M	$97.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,655.8	+0.014%	$5.55B	$10.48B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,636	−0.009%	$35.3M	$172.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,622.5	−0.025%	$155.0M	$548.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,510.3	−0.156%	$279.0M	$929.2M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,588.5	−0.064%	$214.9M	$165.6M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,576.1	−0.079%	$140.0M	$316.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,601.4	−0.049%	$30.3M	$210.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,682.9	+0.046%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,638	−0.007%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,649.4	+0.007%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,650.8	+0.008%	$2.3M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,649.1	+0.006%	$30.0M	$52.6M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,655	+0.013%	$60.0M	$336.2M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,614.4	−0.034%	$621.3M	$398.6M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,631	−0.015%	$44.0M	$227.2M	50x	as long as short
Jupiter Perps WBTC-PERPlong	L +0.0104% / S +0.0056%	1h	85,643.7	long leg	—	$105.9M	500x
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,693.1	+0.058%	$130.6M	$5.10B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,638.7	−0.006%	$8.4M	$42.2M	25x	as long as short
Kraken Futures PF_XBTUSD	+0.0138%	1h	85,684.1	+0.047%	$188.8M	$948.8M	100x	as long as short
Aftermath Perps BTCUSD	+0.0190%	1h	85,600.4	−0.051%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,605.5	−0.045%	$700K	$7.9M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0180%	1h	85,654.3	+0.012%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0214%	8h	85,661	+0.020%	$10.5M	$760.4M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,647.4	+0.004%	$520K	$19.4M	6.7x	as long as short