Funding arb · Price arb /

ETH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0016%/8h= −1.7% APRpaid last 24h −0.008%

Price spread now: Aster against Polymarket Perps−0.077%46s7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$190.185% of the position

Long on Polymarket Perps Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 7 days+0.102%+$10 · spread now −0.077%, 7d avg −0.008%

Together, before fees+0.042%+ Points / potential airdropAster: Stage 5 · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Aster is 0.069% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.008%). Swap the legs. The two prices were read 46 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	Polymarket Perps ETH-USD	2,750.9	0.0100	pay 0.0013% / 1h	57m 48s	$11.3M	$8.6M	50x
Short	Aster ETHUSDT	2,748.8	0.0084	get 0.0084% / 8h	5h 57m	$257.5M	$723.2M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Polymarket 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 Polymarket PerpsbpFee AsterbpOrdersPrice spread, now −0.077%Rate

Funding earned: −$3.28
Price spread: −0.077% → −0.008%: −$6.89
Slippage, 4 orders: −$2.52
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$28.69
Costs to cover: 0.185%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; Aster: 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 Polymarket Perps live order book, 4 min ago	0.18 bp	4.2 bp −$4	7.4 bp −$74	16.5 bp −$1,655	doesn't fit
Sell Aster live order book, 4 min ago	0.02 bp	4.3 bp −$4	4.3 bp −$43	6.0 bp −$602	11.9 bp −$5,941

ETH on 54 exchanges

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
Hibachi ETH/USDT-P	−0.0120%	1h	2,750.1	−0.030%	$235K	$1.2M	20x	as long as short
Hotstuff ETH-PERP	−0.0080%	1h	2,749.4	−0.055%	$5K	$1K	50x	as long as short
Phoenix ETH	−0.0023%	1h	2,748.5	−0.087%	$808K	$2.8M	25x	as long as short
GMX ETH/USD [ETH-USDC]	L −0.0010% / S +0.0043%	1h	2,749.4	−0.056%	$12.0M	—	200x	as long as short
Bybit ETHUSDT	0.0000%	8h	2,748.6	−0.084%	$2.37B	$3.83B	150x	as long as short
Kalshi KXETHPERP	0.0000%	8h	2,750.2	−0.025%	$7.2M	$661.5M	4.9x	as long as short
Perpl ETH	0.0000%	43m	2,749.9	−0.036%	$269K	$5.0M	8.3x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0007% / S −0.0006%	1h	2,749.9	−0.036%	$33.2M	—	200x	as long as short
ApeX Omni ETHUSDT	+0.0020%	1h	2,748.6	−0.083%	$8.3M	$25.3M	100x	as long as short
dYdX ETH-USD	+0.0067%	1h	2,750.6	−0.011%	$15.3M	$42.8M	50x	as long as short

Show all 54 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ETH-USDT-SWAP	+0.0068%	8h	2,748.4	−0.092%	$1.67B	$9.27B	100x	as long as short
01 Exchange ETHUSD	+0.0072%	1h	2,750	−0.033%	$183K	$951K	50x	as long as short
Gate ETH_USDT	+0.0082%	8h	2,749	−0.069%	$3.27B	$7.67B	200x	as long as short
Aster ETHUSDTshort	+0.0084%	8h	2,748.8	−0.077%	$257.5M	$723.2M	200x
KuCoin ETHUSDTM	+0.0088%	8h	2,749.3	−0.059%	$365.3M	$443.0M	100x	as long as short
Aevo ETH-PERP	+0.0088%	1h	2,748.9	−0.073%	$4.9M	$213K	20x	as long as short
MEXC ETH_USDT	+0.0090%	8h	2,749.4	−0.054%	$1.61B	$2.33B	500x	as long as short
Binance ETHUSDT	+0.0090%	8h	2,749.1	−0.064%	$6.41B	$14.12B	150x	as long as short
Lighter ETH	+0.0096%	1h	2,749.1	−0.067%	$114.1M	$382.4M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,750.3	−0.023%	$23.7M	$93.6M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0056%	1h	2,749.7	−0.042%	—	$23.6M	500x	as long as short
Coinbase International ETH-PERP-INTX	+0.0096%	1h	2,750.6	−0.010%	$46.2M	$3.91B	50x	as long as short
Aftermath Perps ETHUSD	+0.0098%	1h	2,748.7	−0.078%	$30K	$8K	20x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,749	−0.069%	$508K	$3.4M	50x	as long as short
Nado ETH-PERP	+0.0100%	1h	2,750.4	−0.018%	$14.6M	$96.2M	50x	as long as short
Pacifica ETH	+0.0100%	1h	2,750.8	−0.004%	$32.4M	$325.1M	50x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,749.2	−0.062%	$2.8M	$14.2M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,750.6	−0.010%	$1.5M	$14.4M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,748.6	−0.084%	$165.1M	$334.7M	25x	as long as short
Bitget ETHUSDT	+0.0100%	8h	2,748.6	−0.084%	$2.11B	$2.31B	150x	as long as short
BingX ETH-USDT	+0.0100%	8h	2,749.1	−0.067%	—	$945.5M	—	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,749	−0.068%	$14.9M	$36.3M	50x	as long as short
Variational Omni ETH	+0.0100%	8h	2,747.4	−0.126%	$132.5M	$292.4M	—	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,747.4	−0.128%	$185.1M	$624.7M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,747.8	−0.113%	$159.8M	$68.6M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,749.9	−0.036%	$21.1M	$75.7M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,751	+0.005%	—	$352K	50x	as long as short
Polymarket Perps ETH-USDlong	+0.0100%	1h	2,750.9	long leg	$11.3M	$8.6M	50x
Bullet ETH-USD	+0.0100%	1h	2,749.6	−0.047%	$177K	$1.7M	20x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,750.2	−0.027%	$20K	$14K	25x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,749.2	−0.060%	$948K	$8.7M	100x	as long as short
SoDEX ETH-USD	+0.0100%	1h	2,749.7	−0.044%	$61.9M	$121.9M	40x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,749.8	−0.040%	$1.05B	$1.05B	200x	as long as short
Phemex ETHUSDT	+0.0100%	8h	2,749.6	−0.049%	$264.3M	$57.4M	150x	as long as short
Extended ETH-USD	+0.0104%	1h	2,748.4	−0.092%	$30.5M	$65.3M	50x	as long as short
Kraken Futures PF_ETHUSD	+0.0105%	1h	2,750	−0.034%	$82.5M	$275.4M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0106%	1h	2,750.8	−0.005%	$266.7M	$186.1M	50x	as long as short
Reya ETHRUSDPERP	+0.0157%	1h	2,748.1	−0.103%	$7.3M	$837K	25x	as long as short
Orderly PERP_ETH_USDC	+0.0174%	8h	2,752.2	+0.048%	$32.5M	$10.0M	100x	as long as short
RISEx ETH/USDC	+0.0206%	1h	2,750.3	−0.020%	$5.7M	$10.6M	25x	as long as short
Hyperliquid ETH	+0.0237%	1h	2,751.7	+0.029%	$3.16B	$1.75B	25x	as long as short
BloFin ETH-USDT	+0.0361%	8h	2,749.6	−0.047%	$283.3M	$150.4M	150x	as long as short
Injective ETH/USDC PERP	+0.0461%	1h	2,751.5	+0.022%	$118K	$21.7M	52x	as long as short
Paradex ETH-USD-PERP	+0.0500%	8h	2,754.2	+0.119%	$15.9M	$6.2M	50x	as long as short