Funding arb · Price arb /

NIGHT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0354%/8h= −38.8% APRpaid last 24h −0.025%

Price spread now: Aster against Deribit+0.043%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. Aster is 0.043% dearer against Deribit than usual: you sell high and buy low (spread +0.043% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NIGHT_USDC-PERPETUAL	0.02416	0.0454	pay 0.0057% / 1h	8m 45s	$99	$99	10x
Short	Aster NIGHTUSDT	0.02417	0.0100	get 0.0050% / 4h	2h 08m	$27K	$34K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 DeribitbpFee AsterbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$74.38
Price spread: +0.043% → 0.000%: $4.27
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$85.11
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Aster: 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 Deribit no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Deribit and Aster: 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 14 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	−9.752%	$1K	—	50x	as long as short
Kraken Futures PF_NIGHTUSD	−0.1292%	1h	0.02425	+0.387%	$63K	$60K	25x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+0.795%	$1K	$58K	5.5x	as long as short
Aster NIGHTUSDTshort	+0.0100%	4h	0.02417	+0.043%	$27K	$34K	10x
Binance NIGHTUSDT	+0.0100%	4h	0.02413	−0.102%	$5.3M	$6.5M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02413	−0.116%	$2.0M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02415	−0.012%	$1.6M	$1.9M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02417	+0.050%	$222K	$203K	20x	as long as short
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02417	+0.033%	$1.4M	$5.3M	50x	as long as short
Bitget NIGHTUSDT	+0.0100%	4h	0.02416	+0.008%	$646K	$403K	25x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NIGHT-USDT	+0.0100%	4h	0.02414	−0.075%	$2K	$1.9M	20x	as long as short
BingX NIGHT-USDT	+0.0120%	4h	0.02415	−0.033%	—	$6.6M	—	as long as short
MEXC NIGHT_USDT	+0.0238%	4h	0.02414	−0.075%	$848K	$461K	100x	as long as short
Deribit NIGHT_USDC-PERPETUALlong	+0.0454%	1h	0.02416	long leg	$99	$99	10x