Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.030%

Price spread now: Backpack against Aster+0.036%45s7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$740.745% of the position

Long on Aster Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.077%−$8 on $10k

Price spread, last 4 days (all we have)−0.220%−$22 · spread now +0.036%, 7d avg −0.038%

Together, before fees−0.296%+ Points / potential airdropAster: Stage 5 · farm board−$30 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: Backpack is 0.075% dearer against Aster than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.038%. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TIAUSDT	0.4386	0.0100	pay 0.0050% / 4h	0m 24s	$34K	$268K	10x
Short	Backpack TIA_USDC_PERP	0.4387	0.0100	get 0.0013% / 1h	0m 24s	$101K	$153K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack 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 BackpackbpOrdersPrice spread, now +0.036%Rate

Funding earned: $0
Price spread: +0.036% → −0.038%: $7.46
Slippage, 4 orders: −$56.47
Fee Aster: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$67.01
Costs to cover: 0.745%
Break-even: never at this rate

Slippage from Aster: live order book, 11 min ago; Backpack: live order book, 13 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 Aster live order book, 11 min ago	5.74 bp	14.6 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 13 min ago	1.15 bp	12.6 bp −$13	doesn't fit	doesn't fit	doesn't fit

TIA on 27 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
OKX TIA-USDT-SWAP	−0.0213%	4h	0.4382	−0.085%	$2.8M	$6.1M	50x	as long as short
Kraken Futures PF_TIAUSD	−0.0162%	1h	0.4387	+0.039%	$361K	$246K	50x	as long as short
KuCoin TIAUSDTM	−0.0038%	4h	0.4382	−0.085%	$4.2M	$8.8M	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4388	+0.052%	$31K	$27K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4387	+0.034%	$1K	—	150x	as long as short
ApeX Omni TIAUSDT	+0.0066%	1h	0.4378	−0.176%	$49K	$235K	50x	as long as short
Lighter TIA	+0.0096%	1h	0.4392	+0.141%	$140K	$362K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0098%	4h	0.4386	+0.007%	$5K	$364K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4392	+0.153%	$4.5M	$1.6M	5x	as long as short
Aster TIAUSDTlong	+0.0100%	4h	0.4386	long leg	$34K	$268K	10x

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance TIAUSDT	+0.0100%	4h	0.4385	−0.023%	$14.6M	$42.1M	75x	as long as short
Bybit TIAUSDT	+0.0100%	4h	0.4382	−0.085%	$9.6M	$13.2M	50x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4386	+0.007%	$985K	$1.9M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4385	−0.016%	$13.3M	$6.8M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4384	−0.039%	$4.5M	$3.5M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4384	−0.039%	—	$99.1M	—	as long as short
Backpack TIA_USDC_PERPshort	+0.0100%	1h	0.4387	+0.036%	$101K	$153K	10x
Variational Omni TIA	+0.0100%	4h	0.4383	−0.064%	$102K	$84K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4386	+0.007%	$58K	$68K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4383	−0.070%	$56K	$169K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4387	+0.022%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0179%	1h	0.4383	−0.069%	$6K	—	15x	as long as short
Coinbase International TIA-PERP-INTX	+0.0208%	1h	0.4389	+0.075%	$51K	$77K	50x	as long as short
Injective TIA/USDC PERP	+0.0210%	1h	0.4381	−0.107%	$27K	$10K	12x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4387	+0.029%	$1.2M	$579K	75x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0460% / S −0.3505%	1h	0.4387	+0.029%	$36K	—	100x	as long as short
dYdX TIA-USD	+0.0706%	1h	0.4388	+0.061%	$52K	$59	10x	as long as short