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 −0.050%

Price spread now: Aster against Hyperliquid+0.015%7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

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

Long on Hyperliquid Short on Aster

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+0.044%+$4 · spread now +0.015%, 7d avg −0.017%

Together, before fees+0.032%+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm board+$3 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: Aster is 0.032% dearer against Hyperliquid than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid LINK	13.142	0.0100	pay 0.0013% / 1h	51m 17s	$77.5M	$23.8M	10x
Short	Aster LINKUSDT	13.144	0.0100	get 0.0100% / 8h	1h 51m	$1.5M	$2.8M	50x

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

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 HyperliquidbpFee AsterbpOrdersPrice spread, now +0.015%Rate

Funding earned: $0
Price spread: +0.015% → −0.017%: $3.24
Slippage, 4 orders: −$14.28
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$28.04
Costs to cover: 0.313%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; Aster: live order book, 2 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 Hyperliquid live order book, 12 min ago	0.38 bp	6.4 bp −$6	10.7 bp −$107	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	1.90 bp	8.4 bp −$8	14.5 bp −$145	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	13.144	+0.014%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.139	−0.023%	$348K	$60K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.146	+0.027%	$470K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUAL	0.0000%	1h	13.145	+0.023%	$718K	$125K	50x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.145	+0.023%	$133K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−5.646%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.174	+0.245%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.143	+0.008%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.143	+0.005%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.132	−0.075%	$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	13.134	−0.057%	$399K	$317K	10x	as long as short
Hyperliquid LINKlong	+0.0100%	1h	13.142	long leg	$77.5M	$23.8M	10x
Aster LINKUSDTshort	+0.0100%	8h	13.144	+0.015%	$1.5M	$2.8M	50x
Pacifica LINK	+0.0100%	1h	13.134	−0.059%	$275K	$151K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.140	−0.017%	$121.8M	$302.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.135	−0.053%	$84.6M	$69.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.137	−0.038%	$27.6M	$85.6M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.148	+0.046%	$184K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.133	−0.068%	$130.3M	$12.6M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.139	−0.023%	$36.5M	$55.9M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.139	−0.023%	$22.3M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.138	−0.030%	$54.5M	$30.3M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.144	+0.015%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.148	+0.049%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.153	+0.087%	$44K	$307K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.173	+0.236%	$590K	$2.8M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.160	+0.137%	$153K	$667K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.140	−0.015%	$80K	$68K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.140	−0.017%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.151	+0.067%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.136	−0.046%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.130	−0.093%	$645K	$903K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.136	−0.046%	$675K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.145	+0.019%	$551K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.149	+0.053%	$991K	$2.7M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0146%	1h	13.140	−0.015%	$366K	$374K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.139	−0.023%	$5.2M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0375%	1h	13.137	−0.036%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0478%	8h	13.152	+0.076%	$20.3M	$11.6M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0695%	1h	13.147	+0.038%	$6.9M	$8.0M	50x	as long as short