Funding arb · Price arb /

NIGHT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−1.1509%/8h= −1260.3% APRpaid last 24h −2.237%

Price spread now: Aster against Kraken Futures−0.138%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures 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

Both sides work against this trade now: funding costs −$345 a day on $10k at the current rate, and Aster is 0.138% cheaper against Kraken Futures than usual: you would sell low and buy high (−$14 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	Kraken Futures PF_NIGHTUSD	0.02396	1.1609	pay 0.1451% / 1h	38m 46s	$64K	$61K	25x
Short	Aster NIGHTUSDT	0.02393	0.0100	get 0.0050% / 4h	2h 38m	$27K	$35K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now −0.138%Rate

Funding earned: −$2,416.94
Price spread: −0.138% → 0.000%: −$13.82
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$2,448.76
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Kraken Futures: 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Kraken Futures 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	−2.2072%	1h	0.02239	−6.576%	$1K	$74	50x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+1.611%	$1K	$58K	5.5x	as long as short
Aster NIGHTUSDTshort	+0.0100%	4h	0.02393	−0.138%	$27K	$35K	10x
Binance NIGHTUSDT	+0.0100%	4h	0.02393	−0.141%	$5.2M	$6.5M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02393	−0.141%	$2.0M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02393	−0.141%	$1.6M	$1.9M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02393	−0.141%	$219K	$216K	20x	as long as short
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02392	−0.202%	$1.3M	$5.3M	50x	as long as short
Bitget NIGHTUSDT	+0.0100%	4h	0.02393	−0.141%	$665K	$433K	25x	as long as short
SunX NIGHT-USDT	+0.0100%	4h	0.02389	−0.308%	$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
BloFin NIGHT-USDT	+0.0112%	4h	0.02392	−0.183%	$215K	$44K	50x	as long as short
BingX NIGHT-USDT	+0.0126%	4h	0.02392	−0.183%	—	$6.6M	—	as long as short
MEXC NIGHT_USDT	+0.0250%	4h	0.02393	−0.141%	$767K	$454K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0545%	1h	0.02393	−0.129%	$98	$99	10x	as long as short
Kraken Futures PF_NIGHTUSDlong	+1.1609%	1h	0.02396	long leg	$64K	$61K	25x