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: Aster against Hyperliquid−0.071%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 Hyperliquid Short on Aster

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)+0.078%+$8 · spread now −0.071%, 7d avg −0.104%

Together, before fees−0.083%+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm board−$8 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 0.034% dearer against Hyperliquid than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.104%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SPX	0.5024	0.0100	pay 0.0013% / 1h	53m 08s	$9.8M	$7.1M	5x
Short	Aster SPXUSDT	0.5020	0.0100	get 0.0050% / 4h	2h 53m	$122K	$97K	10x

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 −0.071%Rate

Funding earned: $0
Price spread: −0.071% → −0.104%: $3.36
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$13.64
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 9 min ago; Aster: live order book, 32 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 Hyperliquid live order book, 9 min ago	1.48 bp	15.4 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 32 min ago	13.72 bp	27.6 bp −$28	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	−0.0414%	1h	0.5018	−0.124%	$230K	$560K	20x	as long as short
Variational Omni SPX	−0.0007%	4h	0.5025	+0.033%	$847K	$1.3M	—	as long as short
Injective SPX/USDC PERP	+0.0033%	1h	0.4979	−0.892%	$9	$4K	5.5x	as long as short
Lighter SPX	+0.0096%	1h	0.5023	−0.016%	$116K	$318K	5x	as long as short
Hyperliquid SPXlong	+0.0100%	1h	0.5024	long leg	$9.8M	$7.1M	5x
Aster SPXUSDTshort	+0.0100%	4h	0.5020	−0.071%	$122K	$97K	10x
Binance SPXUSDT	+0.0100%	4h	0.5019	−0.088%	$5.0M	$19.6M	75x	as long as short
Bybit SPXUSDT	+0.0100%	4h	0.5017	−0.135%	$11.6M	$15.4M	50x	as long as short
OKX SPX-USDT-SWAP	+0.0100%	4h	0.5024	+0.004%	$980K	$2.6M	20x	as long as short
Gate SPX_USDT	+0.0100%	4h	0.5017	−0.135%	$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	0.5023	−0.016%	$11.5M	$4.5M	100x	as long as short
KuCoin SPXUSDTM	+0.0100%	4h	0.5019	−0.096%	$3.8M	$5.2M	50x	as long as short
Bitget SPXUSDT	+0.0100%	4h	0.5019	−0.096%	$2.6M	$1.4M	50x	as long as short
BingX SPX-USDT	+0.0100%	4h	0.5018	−0.115%	—	$6.9M	—	as long as short
ApeX Omni SPXUSDT	+0.0100%	1h	0.5031	+0.143%	$45K	$248K	25x	as long as short
Orderly PERP_SPX_USDC	+0.0100%	4h	0.5024	+0.004%	$20K	$711	10x	as long as short
SunX SPX-USDT	+0.0100%	4h	0.5017	−0.135%	$8K	$1.6M	20x	as long as short
Extended SPX-USD	+0.0104%	1h	0.5019	−0.105%	$34K	$227K	10x	as long as short
BloFin SPX-USDT	+0.0340%	4h	0.5027	+0.064%	$254K	$912K	75x	as long as short