Funding arb · Price arb /

NIGHT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.015%

Price spread now: Injective against Aster−0.098%87s7-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 Injective

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 −$2 a day on $10k at the current rate, and Injective is 0.098% cheaper against Aster than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 87 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster NIGHTUSDT	0.02437	0.0100	pay 0.0050% / 4h	1h 17m	$27K	$35K	10x
Short	Injective NIGHT/USDC PERP	0.02435	0.0033	get 0.0004% / 1h	17m 46s	$1K	$58K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.098%Rate

Funding earned: −$14
Price spread: −0.098% → 0.000%: −$9.79
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$31.81
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; Injective: 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 Injective no order-book sample	—	—	—	—	—

Aster and Injective: 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-INTX	−2.3328%	1h	0.02180	−10.552%	$1K	—	50x	as long as short
Injective NIGHT/USDC PERPshort	+0.0033%	1h	0.02435	−0.098%	$1K	$58K	5.5x
Aster NIGHTUSDTlong	+0.0100%	4h	0.02437	long leg	$27K	$35K	10x
Binance NIGHTUSDT	+0.0100%	4h	0.02438	+0.007%	$5.4M	$6.5M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02436	−0.057%	$2.0M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02436	−0.049%	$1.6M	$1.9M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02436	−0.057%	$224K	$204K	20x	as long as short
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02441	+0.166%	$1.4M	$5.2M	50x	as long as short
Bitget NIGHTUSDT	+0.0100%	4h	0.02438	+0.025%	$652K	$399K	25x	as long as short
SunX NIGHT-USDT	+0.0100%	4h	0.02438	+0.025%	$1K	$1.9M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX NIGHT-USDT	+0.0126%	4h	0.02437	−0.016%	—	$6.6M	—	as long as short
BloFin NIGHT-USDT	+0.0129%	4h	0.02439	+0.066%	$287K	$42K	50x	as long as short
MEXC NIGHT_USDT	+0.0250%	4h	0.02436	−0.057%	$810K	$458K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0776%	1h	0.02439	+0.074%	$100	$99	10x	as long as short
Kraken Futures PF_NIGHTUSD	+0.5555%	1h	0.02448	+0.420%	$64K	$60K	25x	as long as short