Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.045%

Price spread now: Aster against tradeXYZ−0.034%7-day average +0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$158as in the Funding arb table

Net, price: spread back to 7d avg − costs−$143as in the Price arb table

costs, in and out, $10k−$1371.375% of the position

Long on tradeXYZ Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 4 days (all we have)+0.043%+$4 · spread now −0.034%, 7d avg +0.022%

Together, before fees−0.167%+ Points / potential airdroptradeXYZ: Active · Aster: Stage 5 · farm board−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Aster is 0.056% cheaper against tradeXYZ than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.022%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:COIN	196.47	0.0050	pay 0.0006% / 1h	7m 19s	$15.3M	$13.8M	10x
Short	Aster COINUSDT	196.40	0	get 0.0000% / 8h	2h 07m	$343K	$890K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against tradeXYZ. 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 tradeXYZbpFee AsterbpOrdersPrice spread, now −0.034%Rate

Funding earned: −$10.5
Price spread: −0.034% → +0.022%: −$5.61
Slippage, 4 orders: −$111.48
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Aster: 4 bp × 2 orders: −$8
Net: −$153.59
Costs to cover: 1.375%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 12 min ago; Aster: live order book, 41 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 tradeXYZ live order book, 12 min ago	0.26 bp	10.2 bp −$10	14.0 bp −$140	doesn't fit	doesn't fit
Sell Aster live order book, 41 min ago	52.13 bp	56.5 bp −$56	56.7 bp −$567	doesn't fit	doesn't fit

COIN on 26 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
Bitget COINUSDT	−0.0768%	8h	196.70	+0.117%	$6.4M	$10.7M	20x	as long as short
Injective COIN/USDC PERP	−0.0440%	1h	196.49	+0.010%	$43K	$48K	30x	as long as short
Vest COIN-USD-PERP	−0.0110%	1h	195.96	−0.260%	—	$289K	25x	as long as short
Gate COIN_USDT	−0.0077%	8h	196.62	+0.076%	$1.2M	$7.4M	50x	as long as short
Aster COINUSDTshort	0.0000%	8h	196.40	−0.034%	$343K	$890K	20x
Extended COIN_24_5-USD	0.0000%	1h	196.54	+0.035%	$112K	$854K	10x	as long as short
Binance COINUSDT	0.0000%	8h	196.57	+0.051%	$15.1M	$82.6M	20x	as long as short
Bybit COINUSDT	0.0000%	8h	196.57	+0.051%	$4.7M	$6.3M	50x	as long as short
OKX COIN-USDT-SWAP	0.0000%	8h	196.57	+0.051%	$3.0M	$4.7M	20x	as long as short
Variational Omni COIN	0.0000%	8h	196.45	−0.012%	$713K	$961K	—	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COIN_USDT_Perp	0.0000%	8h	196.51	+0.022%	$11K	$2.6M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	196.49	+0.010%	$458K	$1.5M	10x	as long as short
QFEX COIN-USD	+0.0038%	1h	196.50	+0.015%	$1.3M	$3.0M	10x	as long as short
Arcus COIN-USD	+0.0040%	1h	196.48	+0.005%	$15K	$54K	5x	as long as short
tradeXYZ xyz:COINlong	+0.0050%	1h	196.47	long leg	$15.3M	$13.8M	10x
Polymarket Perps COIN-USD	+0.0050%	1h	196.44	−0.015%	$128K	$1.4M	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	196.32	−0.076%	$450K	$2.9M	10x	as long as short
SoDEX COIN-USD	+0.0062%	1h	196.51	+0.020%	$90	$3K	10x	as long as short
Phoenix COIN	+0.0082%	1h	196.47	0.000%	$4K	$283K	10x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	196.25	−0.112%	$989K	$143K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	196.38	−0.046%	$88K	$287K	50x	as long as short
Orderly PERP_COIN_USDC_mythos	+0.0100%	8h	196.54	+0.036%	$568	$4K	10x	as long as short
Aevo COIN-PERP	+0.0104%	1h	196.55	+0.041%	$116	—	10x	as long as short
Lighter COIN	+0.0112%	1h	196.49	+0.012%	$380K	$2.3M	10x	as long as short
BloFin COIN-USDT	+0.0120%	8h	196.57	+0.051%	$186K	$422K	20x	as long as short
edgeX COINUSDC	+0.0687%	4h	196.40	−0.035%	$51K	$294K	10x	as long as short