Funding arb · Price arb /

FF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0916%/8h= −100.3% APRpaid last 24h −0.055%

Price spread now: Aster against Lighter−0.303%7-day average −0.116% · 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−$203as in the Price arb table

costs, in and out, $10k−$1841.838% 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)−0.280%−$28 on $10k

Price spread, last 4 days (all we have)+0.147%+$15 · spread now −0.303%, 7d avg −0.116%

Together, before fees−0.132%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and Aster is 0.187% cheaper against Lighter than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.116%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.280% in total (about -19.0% 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 FF	0.1287	0.1016	pay 0.0127% / 1h	51m 01s	$136K	$35K	3x
Short	Aster FFUSDT	0.1283	0.0100	get 0.0050% / 4h	2h 51m	$1.2M	$17K	5x

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 −0.303%Rate

Funding earned: −$192.36
Price spread: −0.303% → −0.116%: −$18.7
Slippage, 4 orders: −$175.81
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$394.87
Costs to cover: 1.838%
Break-even: never at this rate

Slippage from Lighter: live order book, 64 min ago; Aster: live order book, 2 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, 64 min ago	16.33 bp	37.8 bp −$38	113.2 bp −$1,132	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	8.58 bp	31.6 bp −$32	doesn't fit	doesn't fit	doesn't fit

FF on 11 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
BloFin FF-USDT	−0.0085%	4h	0.1283	−0.357%	$2.3M	$305K	20x	as long as short
MEXC FF_USDT	−0.0058%	4h	0.1283	−0.342%	$10.1M	$751K	50x	as long as short
Binance FFUSDT	−0.0057%	4h	0.1283	−0.319%	$43.5M	$20.5M	20x	as long as short
Aster FFUSDTshort	+0.0100%	4h	0.1283	−0.303%	$1.2M	$17K	5x
Bybit FFUSDT	+0.0100%	4h	0.1283	−0.311%	$14.5M	$5.4M	20x	as long as short
KuCoin FFUSDTM	+0.0100%	4h	0.1283	−0.319%	$8.6M	$5.2M	20x	as long as short
Bitget FFUSDT	+0.0100%	4h	0.1283	−0.311%	$18.7M	$1.3M	5x	as long as short
BingX FF-USDT	+0.0100%	4h	0.1283	−0.357%	—	$6.7M	—	as long as short
SunX FF-USDT	+0.0100%	4h	0.1280	−0.544%	$2K	$1.4M	20x	as long as short
Gate FF_USDT	+0.0168%	4h	0.1284	−0.249%	$27.0M	$1.5M	50x	as long as short

Show all 11 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter FFlong	+0.1016%	1h	0.1287	long leg	$136K	$35K	3x