Funding arb · Price arb /

FET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0260%/8h= −28.4% APRpaid last 24h −0.124%

Price spread now: Aster against Kraken Futures+0.033%7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$980.978% of the position

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.223%−$22 on $10k

Price spread, last 3 days (all we have)+0.063%+$6 · spread now +0.033%, 7d avg −0.018%

Together, before fees−0.160%+ Points / potential airdropAster: Stage 5 · farm board−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.051% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of −0.018%): +$5 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_FETUSD	0.2015	0.0360	pay 0.0045% / 1h	18m 02s	$1.0M	$2.2M	50x
Short	Aster FETUSDT	0.2016	0.0100	get 0.0100% / 8h	1h 18m	$343K	$535K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$54.5
Price spread: +0.033% → −0.018%: $5.1
Slippage, 4 orders: −$79.81
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$147.21
Costs to cover: 0.978%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 6 min ago; Aster: live order book, 64 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 Kraken Futures live order book, 6 min ago	12.16 bp	20.4 bp −$20	56.4 bp −$564	doesn't fit	doesn't fit
Sell Aster live order book, 64 min ago	12.38 bp	21.1 bp −$21	doesn't fit	doesn't fit	doesn't fit

FET on 20 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 FET_USDC-PERPETUAL	−0.3214%	1h	0.2014	−0.059%	$27K	$200K	10x	as long as short
Coinbase International FET-PERP-INTX	−0.0744%	1h	0.2017	+0.090%	$151K	$201K	50x	as long as short
gTrade (Gains Network) FET/USD	L +0.0006% / S −0.0012%	1h	0.2013	−0.089%	$32K	—	150x	as long as short
Gate FET_USDT	+0.0063%	8h	0.2012	−0.158%	$2.7M	$11.9M	50x	as long as short
Aster FETUSDTshort	+0.0100%	8h	0.2016	+0.033%	$343K	$535K	10x
Binance FETUSDT	+0.0100%	8h	0.2013	−0.102%	$31.5M	$107.6M	75x	as long as short
MEXC FET_USDT	+0.0100%	8h	0.2013	−0.108%	$34.5M	$25.1M	200x	as long as short
KuCoin FETUSDTM	+0.0100%	8h	0.2013	−0.108%	$10.5M	$19.1M	50x	as long as short
Variational Omni FET	+0.0100%	8h	0.2015	+0.003%	$274K	$317K	—	as long as short
Orderly PERP_FET_USDC	+0.0100%	8h	0.2012	−0.158%	$37K	$5K	10x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended FET-USD	+0.0104%	1h	0.2013	−0.089%	$34K	$190K	10x	as long as short
OKX FET-USDT-SWAP	+0.0170%	4h	0.2016	+0.041%	$854K	$7.5M	20x	as long as short
Hyperliquid FET	+0.0175%	1h	0.2016	+0.016%	$8.9M	$7.9M	5x	as long as short
GMX FET/USD [ETH-USDC]	L +0.0201% / S −0.0278%	1h	0.2013	−0.115%	$13K	—	100x	as long as short
BloFin FET-USDT	+0.0220%	8h	0.2015	−0.009%	$1.7M	$2.6M	100x	as long as short
BingX FET-USDT	+0.0311%	8h	0.2014	−0.059%	—	$5.6M	—	as long as short
Bitget FETUSDT	+0.0333%	8h	0.2015	−0.009%	$16.3M	$11.5M	75x	as long as short
Kraken Futures PF_FETUSDlong	+0.0360%	1h	0.2015	long leg	$1.0M	$2.2M	50x
Injective FET/USDC PERP	+0.0553%	1h	0.2010	−0.257%	$3K	$166K	12x	as long as short
Phoenix FET	+0.0599%	1h	0.2019	+0.194%	$27K	$36K	5x	as long as short