Funding arb · Price arb /

NIGHT

all NIGHT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−2.3428%/8h= −2565.4% APRpaid last 24h −7.012%

Price spread now: Coinbase International against Aster−10.201%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$703 a day on $10k at the current rate, and Coinbase International is 10.201% cheaper against Aster than usual: you would sell low and buy high (−$1,020 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster NIGHTUSDT	0.02428	0.0100	pay 0.0050% / 4h	3h 32m	$27K	$33K	10x
Short	Coinbase International NIGHT-PERP-INTX	0.02180	−2.3328	pay 0.2916% / 1h	32m 36s	$1K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −10.201%Rate

Funding earned: −$4,919.88
Price spread: −10.201% → 0.000%: −$1,020.13
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$5,958.01
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; Coinbase International: no order-book sample. Net counts fees only.

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 no order-book sample	—	—	—	—	—
Sell Coinbase International no order-book sample	—	—	—	—	—

Aster and Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

NIGHT on 15 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
Coinbase International NIGHT-PERP-INTXshort	−2.3328%	1h	0.02180	−10.201%	$1K	—	50x
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+0.293%	$1K	$58K	5.5x	as long as short
BloFin NIGHT-USDT	+0.0096%	4h	0.02429	+0.046%	$284K	$41K	50x	as long as short
Aster NIGHTUSDTlong	+0.0100%	4h	0.02428	long leg	$27K	$33K	10x
Binance NIGHTUSDT	+0.0100%	4h	0.02427	−0.036%	$5.3M	$6.5M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02428	+0.005%	$2.0M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02427	−0.044%	$1.6M	$1.9M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02427	−0.036%	$238K	$208K	20x	as long as short
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02430	+0.090%	$1.4M	$5.2M	50x	as long as short
Bitget NIGHTUSDT	+0.0100%	4h	0.02430	+0.088%	$682K	$414K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NIGHT-USDT	+0.0100%	4h	0.02428	+0.005%	$2K	$1.9M	20x	as long as short
BingX NIGHT-USDT	+0.0126%	4h	0.02427	−0.036%	—	$6.6M	—	as long as short
MEXC NIGHT_USDT	+0.0250%	4h	0.02427	−0.036%	$785K	$450K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0615%	1h	0.02431	+0.116%	$100	$99	10x	as long as short
Kraken Futures PF_NIGHTUSD	+0.7600%	1h	0.02434	+0.261%	$64K	$61K	25x	as long as short