Funding arb · Price arb /

FIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0700%/8h= −76.6% APRpaid last 24h −0.048%

Price spread now: Lighter against Aster−0.111%7-day average −0.088% · 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−$45as in the Price arb table

costs, in and out, $10k−$430.431% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.071%−$7 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now −0.111%, 7d avg −0.088%

Together, before fees−0.048%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Lighter is 0.023% cheaper against Aster than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.088%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.071% in total (about -5.0% 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	Aster FILUSDT	0.9736	0.0100	pay 0.0100% / 8h	2h 50m	$483K	$507K	20x
Short	Lighter FIL	0.9725	−0.0600	pay 0.0075% / 1h	50m 25s	$155K	$332K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.111%Rate

Funding earned: −$147
Price spread: −0.111% → −0.088%: −$2.28
Slippage, 4 orders: −$35.13
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$192.42
Costs to cover: 0.431%
Break-even: never at this rate

Slippage from Aster: live order book, 37 min ago; Lighter: live order book, 33 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, 37 min ago	5.11 bp	9.1 bp −$9	41.2 bp −$412	doesn't fit	doesn't fit
Sell Lighter live order book, 33 min ago	10.61 bp	10.7 bp −$11	26.1 bp −$261	doesn't fit	doesn't fit

FIL on 29 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
Deribit FIL_USDC-PERPETUAL	−0.1083%	1h	0.9736	+0.002%	$168K	$23K	25x	as long as short
Kraken Futures PF_FILUSD	−0.0630%	1h	0.9728	−0.080%	$1.4M	$2.3M	50x	as long as short
Lighter FILshort	−0.0600%	1h	0.9725	−0.111%	$155K	$332K	5x
Coinbase International FIL-PERP-INTX	−0.0328%	1h	0.9729	−0.070%	$311K	$1.9M	50x	as long as short
Bybit FILUSDT	−0.0100%	8h	0.9733	−0.029%	$15.3M	$18.0M	25x	as long as short
Variational Omni FIL	−0.0048%	8h	0.9723	−0.136%	$434K	$273K	—	as long as short
Hyperliquid FIL	−0.0032%	1h	0.9734	−0.021%	$8.5M	$9.4M	5x	as long as short
Bitget FILUSDT	−0.0026%	8h	0.9731	−0.050%	$10.7M	$22.0M	75x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9737	+0.010%	$24K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9739	+0.038%	$57K	$2K	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX FIL-USDT-SWAP	+0.0015%	8h	0.9731	−0.050%	$17.9M	$96.4M	50x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9658	−0.799%	$2K	$118K	12x	as long as short
KuCoin FILUSDTM	+0.0042%	8h	0.9734	−0.019%	$7.3M	$7.2M	50x	as long as short
Aster FILUSDTlong	+0.0100%	8h	0.9736	long leg	$483K	$507K	20x
Binance FILUSDT	+0.0100%	8h	0.9730	−0.058%	$55.7M	$176.9M	75x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9734	−0.019%	$7.7M	$16.2M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	0.9736	+0.002%	$247K	$103K	50x	as long as short
BingX FIL-USDT	+0.0100%	8h	0.9732	−0.039%	—	$11.8M	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9723	−0.135%	$45K	$293K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9767	+0.318%	$293K	$809K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9720	−0.163%	$41K	$193K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9740	+0.048%	$4K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9720	−0.163%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9725	−0.111%	$466	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9727	−0.091%	$612K	$5.7M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9730	−0.060%	$1.0M	$2.2M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	0.9732	−0.039%	$678K	$2.3M	10x	as long as short
BloFin FIL-USDT	+0.0220%	8h	0.9725	−0.111%	$2.6M	$615K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0610% / S −0.0849%	1h	0.9739	+0.027%	$206K	—	100x	as long as short