Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Aster against Backpack−0.015%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$370.371% of the position

Long on Backpack Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.113%+$11 · spread now −0.015%, 7d avg +0.003%

Together, before fees+0.113%+ Points / potential airdropAster: Stage 5 · farm board+$11 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack LINK_USDC_PERP	13.110	0.0100	pay 0.0013% / 1h	57m 41s	$363K	$376K	15x
Short	Aster LINKUSDT	13.108	0.0100	get 0.0100% / 8h	2h 57m	$1.6M	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Backpack. 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 BackpackbpFee AsterbpOrdersPrice spread, now −0.015%Rate

Funding earned: $0
Price spread: −0.015% → +0.003%: −$1.83
Slippage, 4 orders: −$19.14
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$38.97
Costs to cover: 0.371%
Break-even: never at this rate

Slippage from Backpack: live order book, 31 min ago; Aster: live order book, 1 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 Backpack live order book, 31 min ago	0.38 bp	9.2 bp −$9	56.7 bp −$567	doesn't fit	doesn't fit
Sell Aster live order book, 1 min ago	1.52 bp	7.2 bp −$7	12.8 bp −$128	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 −0.0091% / S +0.0166%	1h	13.114	+0.028%	$1.7M	—	200x	as long as short
Phoenix LINK	−0.0012%	1h	13.164	+0.413%	$3K	$71K	10x	as long as short
dYdX LINK-USD	0.0000%	1h	13.109	−0.010%	$347K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.133	+0.172%	$458K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.110	+0.002%	$698K	$108K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0003% / S −0.0002%	1h	13.116	+0.043%	$83K	—	150x	as long as short
Variational Omni LINK	+0.0025%	8h	13.175	+0.493%	$3.3M	$1.6M	—	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.416%	$4K	$48K	12x	as long as short
Orderly PERP_LINK_USDC	+0.0058%	8h	13.106	−0.031%	$134K	$1.6M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.112	+0.013%	$2.1M	$2.3M	10x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex LINK-USD-PERP	+0.0100%	8h	13.095	−0.111%	$32K	$3K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	13.125	+0.114%	$398K	$323K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.118	+0.061%	$78.2M	$23.3M	10x	as long as short
Aster LINKUSDTshort	+0.0100%	8h	13.108	−0.015%	$1.6M	$2.7M	50x
Pacifica LINK	+0.0100%	1h	13.105	−0.042%	$275K	$155K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.098	−0.089%	$121.1M	$301.6M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.094	−0.122%	$84.8M	$68.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.099	−0.084%	$27.7M	$85.5M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.148	+0.290%	$198K	$155K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.106	−0.031%	$130.8M	$12.4M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.101	−0.069%	$35.5M	$55.5M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.102	−0.061%	$21.6M	$16.1M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.103	−0.053%	$54.2M	$30.3M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	13.104	−0.046%	—	$21.8M	—	as long as short
Backpack LINK_USDC_PERPlong	+0.0100%	1h	13.110	long leg	$363K	$376K	15x
edgeX LINKUSDC	+0.0100%	4h	13.157	+0.357%	$44K	$309K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.155	+0.343%	$592K	$2.9M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.159	+0.374%	$153K	$660K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.126	+0.122%	$80K	$62K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.108	−0.019%	$22K	$13K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.123	+0.100%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.108	−0.015%	$5K	$40K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.102	−0.057%	$642K	$908K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.101	−0.069%	$668K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.114	+0.027%	$550K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0104%	1h	13.125	+0.114%	$991K	$2.7M	50x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.150	+0.305%	$5.3M	$16.7M	75x	as long as short
Reya LINKRUSDPERP	+0.0372%	1h	13.120	+0.078%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0494%	8h	13.125	+0.114%	$20.3M	$11.4M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0505%	1h	13.116	+0.047%	$6.9M	$7.8M	50x	as long as short