Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against Aster−3.458%97s7-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 4 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 3.458% cheaper against Aster than usual: you would sell low and buy high (−$346 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 97 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 NOTUSDT	0.0005049	0.0100	pay 0.0050% / 4h	2h 13m	$14K	$9K	5x
Short	Injective NOT/USDC PERP	0.0004874	0.0033	get 0.0004% / 1h	13m 40s	$1K	$13K	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 −3.458%Rate

Funding earned: −$14
Price spread: −3.458% → 0.000%: −$345.84
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: −$367.86
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.

NOT on 16 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
Injective NOT/USDC PERPshort	+0.0033%	1h	0.0004874	−3.458%	$1K	$13K	5.5x
Variational Omni NOT	+0.0065%	4h	0.0005044	−0.086%	$66K	$34K	—	as long as short
BloFin NOT-USDT	+0.0094%	4h	0.0005052	+0.067%	$111K	$17K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005062	+0.259%	$11K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005050	+0.028%	$369K	$50K	3x	as long as short
Aster NOTUSDTlong	+0.0100%	4h	0.0005049	long leg	$14K	$9K	5x
Binance NOTUSDT	+0.0100%	4h	0.0005052	+0.075%	$2.1M	$3.0M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005043	−0.111%	$2.1M	$802K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005051	+0.048%	$612K	$579K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005050	+0.028%	$140K	$77K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005052	+0.067%	$1.3M	$492K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005045	−0.071%	$493K	$119K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005055	+0.127%	$664K	$382K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005048	−0.012%	—	$719K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005052	+0.061%	$4K	$1K	5x	as long as short
Kraken Futures PF_NOTUSD	+0.7060%	1h	0.0005089	+0.796%	$49K	$9K	10x	as long as short