Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.026%

Price spread now: Aster against Backpack−0.018%55s7-day average +0.039% · you buy dearer than you sell

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 Backpack Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.080%+$8 on $10k

Price spread, last 4 days (all we have)+0.157%+$16 · spread now −0.018%, 7d avg +0.039%

Together, before fees+0.237%+ Points / potential airdropAster: Stage 5 · farm board+$24 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 0.057% cheaper against Backpack than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.039%. The two prices were read 55 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	Backpack TIA_USDC_PERP	0.4409	0.0100	pay 0.0013% / 1h	12m 21s	$102K	$154K	10x
Short	Aster TIAUSDT	0.4408	0.0100	get 0.0050% / 4h	3h 12m	$35K	$240K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Backpack. 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 BackpackbpFee AsterbpOrdersPrice spread, now −0.018%Rate

Funding earned: $0
Price spread: −0.018% → +0.039%: −$5.7
Slippage, 4 orders: −$56.47
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$80.17
Costs to cover: 0.745%
Break-even: never at this rate

Slippage from Backpack: live order book, 61 min ago; Aster: live order book, 59 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 Backpack live order book, 61 min ago	1.15 bp	11.9 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 59 min ago	5.74 bp	35.4 bp −$35	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
Kraken Futures PF_TIAUSD	−0.0152%	1h	0.4412	+0.076%	$363K	$225K	50x	as long as short
OKX TIA-USDT-SWAP	−0.0132%	4h	0.4402	−0.154%	$2.8M	$5.9M	50x	as long as short
KuCoin TIAUSDTM	−0.0024%	4h	0.4407	−0.041%	$4.2M	$8.8M	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4408	−0.018%	$31K	$27K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4408	−0.017%	$1K	—	150x	as long as short
Lighter TIA	+0.0096%	1h	0.4414	+0.118%	$140K	$360K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0099%	4h	0.4407	−0.041%	$5K	$363K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4413	+0.086%	$4.5M	$1.5M	5x	as long as short
Aster TIAUSDTshort	+0.0100%	4h	0.4408	−0.018%	$35K	$240K	10x
Binance TIAUSDT	+0.0100%	4h	0.4407	−0.044%	$14.7M	$41.1M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit TIAUSDT	+0.0100%	4h	0.4403	−0.132%	$9.6M	$12.8M	50x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4411	+0.050%	$991K	$1.8M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4408	−0.018%	$13.1M	$6.8M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4409	+0.005%	$4.6M	$3.1M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4406	−0.064%	—	$98.9M	—	as long as short
Backpack TIA_USDC_PERPlong	+0.0100%	1h	0.4409	long leg	$102K	$154K	10x
Variational Omni TIA	+0.0100%	4h	0.4393	−0.362%	$103K	$84K	—	as long as short
ApeX Omni TIAUSDT	+0.0100%	1h	0.4403	−0.132%	$50K	$233K	50x	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4411	+0.050%	$58K	$68K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4404	−0.109%	$55K	$184K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4404	−0.106%	$7K	—	3x	as long as short
Injective TIA/USDC PERP	+0.0117%	1h	0.4421	+0.277%	$27K	$10K	12x	as long as short
Reya TIARUSDPERP	+0.0179%	1h	0.4404	−0.111%	$6K	—	15x	as long as short
Coinbase International TIA-PERP-INTX	+0.0256%	1h	0.4422	+0.299%	$52K	$76K	50x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4407	−0.041%	$1.3M	$599K	75x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0462% / S −0.3505%	1h	0.4408	−0.028%	$36K	—	100x	as long as short
dYdX TIA-USD	+0.0886%	1h	0.4410	+0.033%	$52K	$199	10x	as long as short