Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0265%/8h= −29.1% APRpaid last 24h −0.052%

Price spread now: Aster against GMX+0.166%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 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. Aster is 0.166% dearer against GMX than usual: you sell high and buy low (spread +0.166% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX RENDER/USD [ETH-USDC]	1.8731	L +0.0365% / S −0.0912%	pay 0.0046% / 1h	41m 01s	$16K	—	100x
Short	Aster RENDERUSDT	1.8762	0.0100	get 0.0050% / 4h	3h 41m	$271K	$164K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GMX. 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 GMXbpFee AsterbpOrdersPrice spread, now +0.166%Rate

Funding earned: −$55.75
Price spread: +0.166% → 0.000%: $16.59
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$59.16
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Aster: live order book, 31 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Aster live order book, 31 min ago	13.40 bp	26.3 bp −$26	doesn't fit	doesn't fit	doesn't fit

GMX: 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.

RENDER on 22 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 RENDER/USDC PERP	−0.0213%	1h	1.8720	−0.057%	$6K	$188K	12x	as long as short
Variational Omni RENDER	−0.0052%	4h	1.8702	−0.153%	$231K	$285K	—	as long as short
Coinbase International RENDER-PERP-INTX	−0.0040%	1h	1.8820	+0.477%	$155K	$65K	50x	as long as short
dYdX RENDER-USD	0.0000%	1h	1.8727	−0.020%	$19K	$21K	5x	as long as short
Deribit RENDER_USDC-PERPETUAL	0.0000%	1h	1.8748	+0.092%	$11K	$30K	25x	as long as short
Aster RENDERUSDTshort	+0.0100%	4h	1.8762	+0.166%	$271K	$164K	20x
Binance RENDERUSDT	+0.0100%	4h	1.8737	+0.036%	$12.5M	$47.1M	75x	as long as short
Bybit RENDERUSDT	+0.0100%	4h	1.8718	−0.068%	$12.1M	$13.4M	50x	as long as short
OKX RENDER-USDT-SWAP	+0.0100%	4h	1.8740	+0.050%	$3.2M	$8.4M	20x	as long as short
Gate RENDER_USDT	+0.0100%	4h	1.8737	+0.034%	$533K	$1.1M	50x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC RENDER_USDT	+0.0100%	4h	1.8740	+0.050%	$12.1M	$10.6M	200x	as long as short
KuCoin RENDERUSDTM	+0.0100%	4h	1.8720	−0.057%	$5.2M	$12.2M	50x	as long as short
Bitget RENDERUSDT	+0.0100%	4h	1.8746	+0.082%	$10.0M	$10.4M	50x	as long as short
BingX RENDER-USDT	+0.0100%	4h	1.8750	+0.103%	—	$4.1M	—	as long as short
ApeX Omni RENDERUSDT	+0.0100%	1h	1.8790	+0.316%	$47K	$268K	50x	as long as short
Phemex RENDERUSDT	+0.0100%	8h	1.8750	+0.103%	$1.9M	$4.0M	50x	as long as short
Extended RENDER-USD	+0.0104%	1h	1.8733	+0.012%	$29K	$221K	10x	as long as short
Phoenix RENDER	+0.0171%	1h	1.8787	+0.300%	$48K	$324K	5x	as long as short
BloFin RENDER-USDT	+0.0340%	4h	1.8720	−0.057%	$599K	$1.3M	90x	as long as short
GMX RENDER/USD [ETH-USDC]long	L +0.0365% / S −0.0912%	1h	1.8731	long leg	$16K	—	100x
Kraken Futures PF_RENDERUSD	+0.0403%	1h	1.8760	+0.159%	$477K	$1.1M	50x	as long as short
Hyperliquid RENDER	+0.0775%	1h	1.8772	+0.220%	$4.4M	$3.4M	5x	as long as short