Funding arb · Price arb /

NIGHT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.017%

Price spread now: Aster against Injective−0.253%107s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 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

Funding pays, the price is against you. Aster is 0.253% cheaper against Injective than usual: you would sell low and buy high (spread −0.253% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$25 on $10k: about 13 days of funding at the current rate (+$2 a day). The two prices were read 107 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	Injective NIGHT/USDC PERP	0.02435	0.0033	pay 0.0004% / 1h	33m 28s	$1K	$58K	5.5x
Short	Aster NIGHTUSDT	0.02429	0.0100	get 0.0050% / 4h	3h 33m	$27K	$33K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now −0.253%Rate

Funding earned: $14
Price spread: −0.253% → 0.000%: −$25.27
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: −$19.29
Costs to cover: 0.080%
Break-even: 16.6 days

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

Injective 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 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	−10.464%	$1K	—	50x	as long as short
Injective NIGHT/USDC PERPlong	+0.0033%	1h	0.02435	long leg	$1K	$58K	5.5x
BloFin NIGHT-USDT	+0.0044%	4h	0.02430	−0.205%	$283K	$41K	50x	as long as short
Aster NIGHTUSDTshort	+0.0100%	4h	0.02429	−0.253%	$27K	$33K	10x
Binance NIGHTUSDT	+0.0100%	4h	0.02428	−0.282%	$5.3M	$6.5M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02429	−0.246%	$2.0M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02428	−0.287%	$1.6M	$1.9M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02429	−0.246%	$239K	$208K	20x	as long as short
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02431	−0.156%	$1.4M	$5.2M	50x	as long as short
Bitget NIGHTUSDT	+0.0100%	4h	0.02431	−0.164%	$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	−0.287%	$2K	$1.9M	20x	as long as short
BingX NIGHT-USDT	+0.0126%	4h	0.02428	−0.287%	—	$6.6M	—	as long as short
MEXC NIGHT_USDT	+0.0250%	4h	0.02428	−0.287%	$785K	$450K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0862%	1h	0.02432	−0.140%	$100	$99	10x	as long as short
Kraken Futures PF_NIGHTUSD	+0.7571%	1h	0.02444	+0.350%	$65K	$61K	25x	as long as short