Funding arb · Price arb /

AERO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1820%/8h= −199.3% APRpaid last 24h −0.185%

Price spread now: Aster against Lighter−0.233%7-day average −0.156% · 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−$84as in the Price arb table

costs, in and out, $10k−$760.759% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.830%−$83 on $10k

Price spread, last 4 days (all we have)+0.099%+$10 · spread now −0.233%, 7d avg −0.156%

Together, before fees−0.732%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$73 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$55 a day on $10k at the current rate, and Aster is 0.077% cheaper against Lighter than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.156%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.830% in total (about -57.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AERO	0.7064	0.1920	pay 0.0240% / 1h	29m 06s	$1.3M	$461K	3x
Short	Aster AEROUSDT	0.7047	0.0100	get 0.0050% / 4h	29m 06s	$41K	$113K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now −0.233%Rate

Funding earned: −$382.2
Price spread: −0.233% → −0.156%: −$7.74
Slippage, 4 orders: −$67.92
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$465.86
Costs to cover: 0.759%
Break-even: never at this rate

Slippage from Lighter: live order book, 2 min ago; Aster: live order book, 47 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 Lighter live order book, 2 min ago	5.17 bp	22.7 bp −$23	116.3 bp −$1,163	doesn't fit	doesn't fit
Sell Aster live order book, 47 min ago	5.08 bp	18.2 bp −$18	doesn't fit	doesn't fit	doesn't fit

AERO on 23 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
Injective AERO/USDC PERP	+0.0033%	1h	0.6902	−2.286%	$4	$209K	5.5x	as long as short
Aster AEROUSDTshort	+0.0100%	4h	0.7047	−0.233%	$41K	$113K	10x
Binance AEROUSDT	+0.0100%	4h	0.7046	−0.248%	$26.5M	$26.5M	75x	as long as short
Bybit AEROUSDT	+0.0100%	4h	0.7041	−0.319%	$22.8M	$21.7M	25x	as long as short
OKX AERO-USDT-SWAP	+0.0100%	4h	0.7046	−0.248%	$2.3M	$7.1M	20x	as long as short
Gate AERO_USDT	+0.0100%	4h	0.7040	−0.333%	$1.6M	$535K	75x	as long as short
MEXC AERO_USDT	+0.0100%	4h	0.7045	−0.262%	$8.4M	$1.7M	100x	as long as short
KuCoin AEROUSDTM	+0.0100%	4h	0.7040	−0.333%	$2.2M	$937K	50x	as long as short
Bitget AEROUSDT	+0.0100%	4h	0.7040	−0.333%	$4.1M	$2.2M	75x	as long as short
BingX AERO-USDT	+0.0100%	4h	0.7042	−0.304%	—	$1.8M	—	as long as short

Show all 23 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni AERO	+0.0100%	4h	0.7041	−0.316%	$2.1M	$1.8M	—	as long as short
Extended AERO-USD	+0.0104%	1h	0.7042	−0.305%	$218K	$1.3M	10x	as long as short
Aevo AERO-PERP	+0.0104%	1h	0.7042	−0.304%	$47K	—	3x	as long as short
Deribit AERO_USDC-PERPETUAL	+0.0176%	1h	0.7045	−0.262%	$56K	$11K	10x	as long as short
Reya AERORUSDPERP	+0.0228%	1h	0.7039	−0.345%	$20K	$4K	15x	as long as short
BloFin AERO-USDT	+0.0340%	4h	0.7048	−0.219%	$945K	$732K	25x	as long as short
GMX AERO/USD [ETH-USDC]	L +0.0514% / S −0.0250%	1h	0.7038	−0.364%	$91K	—	100x	as long as short
Coinbase International AERO-PERP-INTX	+0.0520%	1h	0.7523	+6.505%	$100K	$35K	25x	as long as short
RISEx AERO/USDC	+0.0563%	1h	0.7043	−0.286%	$235K	$394K	3x	as long as short
Hyperliquid AERO	+0.0617%	1h	0.7054	−0.139%	$23.7M	$5.4M	3x	as long as short
01 Exchange AEROUSD	+0.0704%	1h	0.7053	−0.146%	$191	$111	3x	as long as short
Backpack AERO_USDC_PERP	+0.1032%	1h	0.7050	−0.195%	$105K	$316K	15x	as long as short
Lighter AEROlong	+0.1920%	1h	0.7064	long leg	$1.3M	$461K	3x