Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0156%/8h= +17.1% APRpaid last 24h +0.005%

Price spread now: Lighter against Aster+0.624%7-day average — · you sell dearer than you buy

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

Long on Aster Short on Lighter

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 · Lighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Lighter is 0.624% dearer against Aster than usual: you sell high and buy low: +$62 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster STABLEUSDT	0.02470	−0.0060	get 0.0030% / 4h	1h 01m	$19K	$7K	20x
Short	Lighter STABLE	0.02485	0.0096	get 0.0012% / 1h	1m 22s	$114K	$3K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.624%Rate

Funding earned: $32.79
Price spread: +0.624% → 0.000%: $62.4
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $87.19
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Aster: no order-book sample; Lighter: live order book, 72 min ago. 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 Lighter live order book, 72 min ago	185.38 bp	194.4 bp −$194	568.8 bp −$5,688	doesn't fit	doesn't fit

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.

STABLE 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
Aster STABLEUSDTlong	−0.0060%	4h	0.02470	long leg	$19K	$7K	20x
Lighter STABLEshort	+0.0096%	1h	0.02485	+0.624%	$114K	$3K	3x
Hyperliquid STABLE	+0.0100%	1h	0.02472	+0.065%	$872K	$226K	3x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02472	+0.081%	$2.4M	$2.7M	75x	as long as short
Bybit STABLEUSDT	+0.0100%	4h	0.02473	+0.122%	$1.5M	$752K	25x	as long as short
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02471	+0.041%	$203K	$405K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02473	+0.122%	$172K	$88K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02472	+0.081%	$659K	$157K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02480	+0.405%	$178K	$27K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02472	+0.081%	$291K	$115K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02473	+0.122%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02467	−0.114%	$145K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02471	+0.029%	$2K	$659K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02471	+0.021%	$12K	$175K	10x	as long as short
BloFin STABLE-USDT	+0.0156%	4h	0.02465	−0.202%	$112K	$7K	75x	as long as short