Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Aster against Hyperliquid−0.171%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.171% cheaper against Hyperliquid than usual: you would sell low and buy high, −$17 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid INIT	0.08275	0.0100	pay 0.0013% / 1h	31m 49s	$305K	$230K	3x
Short	Aster INITUSDT	0.08261	0.0100	get 0.0050% / 4h	31m 49s	$27K	$39K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hyperliquid. 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 HyperliquidbpFee AsterbpOrdersPrice spread, now −0.171%Rate

Funding earned: $0
Price spread: −0.171% → 0.000%: −$17.07
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$34.07
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 58 min ago; Aster: no order-book sample. 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 Hyperliquid live order book, 58 min ago	8.35 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: 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.

INIT on 13 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
Kraken Futures PF_INITUSD	−0.5669%	1h	0.08230	−0.548%	$3K	$19K	10x	as long as short
Hyperliquid INITlong	+0.0100%	1h	0.08275	long leg	$305K	$230K	3x
Aster INITUSDTshort	+0.0100%	4h	0.08261	−0.171%	$27K	$39K	5x
Binance INITUSDT	+0.0100%	4h	0.08280	+0.058%	$3.4M	$3.8M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08263	−0.149%	$1.4M	$1.5M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08281	+0.069%	$138K	$666K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08260	−0.185%	$83K	$56K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08279	+0.045%	$445K	$210K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08256	−0.233%	$322K	$57K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08260	−0.185%	$429K	$307K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDT	+0.0100%	4h	0.08268	−0.088%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08229	−0.559%	$26K	$23K	—	as long as short
BloFin INIT-USDT	+0.0119%	4h	0.08262	−0.161%	$151K	$112K	25x	as long as short