Funding arb · Price arb /

OP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against Aster+0.028%7-day average — · you sell dearer than you buy

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

Long on Aster Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. dYdX is 0.028% dearer against Aster than usual: you sell high and buy low (spread +0.028% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster OPUSDT	0.1276	0.0100	pay 0.0100% / 8h	2h 52m	$213K	$214K	10x
Short	dYdX OP-USD	0.1277	0	get 0.0000% / 1h	52m 37s	$39K	$532	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.028%Rate

Funding earned: −$21
Price spread: +0.028% → 0.000%: $2.84
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$36.16
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 59 min ago; dYdX: 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 Aster live order book, 59 min ago	12.10 bp	31.0 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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.

OP on 30 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
Injective OP/USDC PERP	−0.1583%	1h	0.1269	−0.581%	$35K	$58K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1065% / S +0.0229%	1h	0.1276	−0.042%	$13K	—	100x	as long as short
dYdX OP-USDshort	0.0000%	1h	0.1277	+0.028%	$39K	$532	10x
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1275	−0.111%	$42K	$138K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1275	−0.105%	—	—	150x	as long as short
Variational Omni OP	+0.0041%	8h	0.1269	−0.595%	$224K	$48K	—	as long as short
Orderly PERP_OP_USDC	+0.0054%	8h	0.1274	−0.190%	$6K	$47K	10x	as long as short
Kraken Futures PF_OPUSD	+0.0073%	1h	0.1276	−0.058%	$779K	$551K	20x	as long as short
Lighter OP	+0.0096%	1h	0.1275	−0.096%	$277K	$950K	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1275	−0.072%	$3.7M	$2.7M	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster OPUSDTlong	+0.0100%	8h	0.1276	long leg	$213K	$214K	10x
Binance OPUSDT	+0.0100%	8h	0.1276	−0.026%	$20.6M	$61.3M	75x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1275	−0.127%	$18.7M	$25.0M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1275	−0.096%	$6.2M	$28.8M	50x	as long as short
Gate OP_USDT	+0.0100%	8h	0.1276	−0.033%	$2.0M	$1.5M	50x	as long as short
MEXC OP_USDT	+0.0100%	8h	0.1277	+0.038%	$21.8M	$7.2M	300x	as long as short
KuCoin OPUSDTM	+0.0100%	8h	0.1275	−0.111%	$2.9M	$6.3M	75x	as long as short
Bitget OPUSDT	+0.0100%	8h	0.1276	−0.033%	$5.9M	$6.5M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1276	−0.056%	—	$6.5M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1275	−0.150%	$118K	$207K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1270	−0.502%	$4K	$385K	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1273	−0.268%	$312K	$5.2M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1271	−0.425%	$44K	$707K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1275	−0.119%	$199	$6K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1275	−0.103%	$172K	$229K	50x	as long as short
Extended OP-USD	+0.0104%	1h	0.1275	−0.105%	$102K	$505K	25x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1275	−0.111%	$3K	$1K	3x	as long as short
Coinbase International OP-PERP-INTX	+0.0160%	1h	0.1270	−0.503%	$25K	$57K	50x	as long as short
BloFin OP-USDT	+0.0220%	8h	0.1274	−0.190%	$1.0M	$281K	75x	as long as short
Reya OPRUSDPERP	+0.0442%	1h	0.1274	−0.167%	$709	—	20x	as long as short