Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.051%

Price spread now: Hyperliquid against Aster+0.090%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$310.313% of the position

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 7 days−0.144%−$14 · spread now +0.090%, 7d avg +0.016%

Together, before fees−0.131%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board−$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.074% dearer against Aster than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster LINKUSDT	13.175	0.0100	pay 0.0100% / 8h	1h 54m	$1.5M	$2.8M	50x
Short	Hyperliquid LINK	13.187	0.0100	get 0.0013% / 1h	54m 52s	$77.7M	$23.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.090%Rate

Funding earned: $0
Price spread: +0.090% → +0.016%: $7.39
Slippage, 4 orders: −$14.25
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$23.86
Costs to cover: 0.313%
Break-even: never at this rate

Slippage from Aster: live order book, 4 min ago; Hyperliquid: live order book, 9 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	1.91 bp	9.7 bp −$10	23.5 bp −$235	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	0.38 bp	6.1 bp −$6	9.6 bp −$96	doesn't fit	doesn't fit

LINK on 40 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
GMX LINK/USD [LINK-USDC]	L −0.0090% / S +0.0167%	1h	13.173	−0.018%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.163	−0.092%	$349K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.171	−0.032%	$470K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.175	+0.002%	$719K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.175	−0.001%	$134K	—	150x	as long as short
Phoenix LINK	+0.0018%	1h	13.128	−0.359%	$3K	$81K	10x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.883%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.171	−0.031%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.181	+0.042%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.160	−0.117%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.168	−0.054%	$400K	$316K	10x	as long as short
Hyperliquid LINKshort	+0.0100%	1h	13.187	+0.090%	$77.7M	$23.6M	10x
Aster LINKUSDTlong	+0.0100%	8h	13.175	long leg	$1.5M	$2.8M	50x
Pacifica LINK	+0.0100%	1h	13.163	−0.089%	$276K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.171	−0.031%	$122.1M	$302.1M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.172	−0.024%	$84.9M	$69.7M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.170	−0.039%	$27.7M	$86.0M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.176	+0.007%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.170	−0.039%	$130.7M	$12.5M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.171	−0.031%	$36.8M	$55.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.173	−0.016%	$22.4M	$15.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.168	−0.054%	$54.6M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.172	−0.024%	—	$21.8M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.148	−0.203%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.127	−0.364%	$44K	$306K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.136	−0.297%	$589K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.129	−0.350%	$153K	$667K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.178	+0.022%	$81K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.167	−0.063%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.193	+0.136%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.173	−0.016%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.163	−0.095%	$647K	$903K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.166	−0.067%	$667K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.176	+0.009%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.159	−0.122%	$991K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.174	−0.008%	$5.2M	$17.0M	75x	as long as short
Backpack LINK_USDC_PERP	+0.0225%	1h	13.187	+0.090%	$367K	$374K	15x	as long as short
Reya LINKRUSDPERP	+0.0375%	1h	13.177	+0.014%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0474%	8h	13.192	+0.128%	$20.4M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0694%	1h	13.181	+0.043%	$6.9M	$8.0M	50x	as long as short