Funding arb · Price arb /

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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 +0.076%

Price spread now: Hyperliquid against Aster−0.094%7-day average +0.104% · you buy dearer than you sell

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

Long on Aster Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.161%+$16 on $10k

Price spread, last 4 days (all we have)+0.087%+$9 · spread now −0.094%, 7d avg +0.104%

Together, before fees+0.247%+ Points / potential airdropAster: Stage 5 · Hyperliquid: Season 2 · farm board+$25 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 0.198% cheaper against Aster than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.104%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SPXUSDT	0.5017	0.0100	pay 0.0050% / 4h	2h 51m	$123K	$97K	10x
Short	Hyperliquid SPX	0.5012	0.0100	get 0.0013% / 1h	51m 12s	$9.8M	$7.1M	5x

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 −0.094%Rate

Funding earned: $0
Price spread: −0.094% → +0.104%: −$19.79
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$36.79
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 34 min ago; Hyperliquid: live order book, 11 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 Aster live order book, 34 min ago	13.72 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 11 min ago	1.48 bp	16.1 bp −$16	doesn't fit	doesn't fit	doesn't fit

SPX on 19 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
Kraken Futures PF_SPXUSD	−0.0415%	1h	0.5004	−0.259%	$229K	$560K	20x	as long as short
Variational Omni SPX	−0.0007%	4h	0.5025	+0.169%	$847K	$1.3M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−0.757%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5012	−0.096%	$116K	$318K	5x	as long as short
Hyperliquid SPXshort	+0.0100%	1h	0.5012	−0.094%	$9.8M	$7.1M	5x
Aster SPXUSDTlong	+0.0100%	4h	0.5017	long leg	$123K	$97K	10x
Binance SPXUSDT	+0.0100%	4h	0.5010	−0.139%	$5.0M	$19.6M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5002	−0.299%	$11.6M	$15.4M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5006	−0.219%	$975K	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5004	−0.259%	$1.0M	$476K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SPX_USDT	+0.0100%	4h	0.5009	−0.159%	$11.5M	$4.5M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5006	−0.219%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5008	−0.179%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5005	−0.239%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5016	−0.020%	$45K	$248K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5017	0.000%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5000	−0.339%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5007	−0.208%	$34K	$227K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5012	−0.100%	$253K	$910K	75x	as long as short