Funding arb · Price arb /

UNI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0396%/8h= −43.4% APRpaid last 24h −0.158%

Price spread now: Aster against Lighter−0.159%7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$290.294% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.266%−$27 on $10k

Price spread, last 7 days+0.008%+$1 · spread now −0.159%, 7d avg −0.056%

Together, before fees−0.258%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Aster is 0.103% cheaper against Lighter than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.056%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.266% in total (about -13.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter UNI	8.8811	0.0496	pay 0.0062% / 1h	40m 02s	$4.5M	$5.4M	15x
Short	Aster UNIUSDT	8.8670	0.0100	get 0.0100% / 8h	2h 40m	$1.0M	$3.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now −0.159%Rate

Funding earned: −$83.16
Price spread: −0.159% → −0.056%: −$10.33
Slippage, 4 orders: −$21.41
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$122.9
Costs to cover: 0.294%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; Aster: live order book, 4 min ago.

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 Lighter live order book, 3 min ago	1.63 bp	7.7 bp −$8	16.7 bp −$167	91.3 bp −$9,128	doesn't fit
Sell Aster live order book, 4 min ago	1.69 bp	11.8 bp −$12	22.5 bp −$225	doesn't fit	doesn't fit

UNI on 40 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
Variational Omni UNI	−0.0193%	8h	8.8610	−0.226%	$3.9M	$4.6M	—	as long as short
Bybit UNIUSDT	−0.0173%	8h	8.8480	−0.373%	$102.3M	$104.4M	75x	as long as short
01 Exchange UNIUSD	−0.0024%	1h	8.8635	−0.198%	$442	—	10x	as long as short
Deribit UNI_USDC-PERPETUAL	0.0000%	1h	8.8694	−0.131%	$554K	$125K	50x	as long as short
gTrade (Gains Network) UNI/USD	L +0.0004% / S −0.0006%	1h	8.8662	−0.168%	$80K	—	150x	as long as short
OKX UNI-USDT-SWAP	+0.0010%	8h	8.8460	−0.395%	$54.5M	$245.7M	50x	as long as short
dYdX UNI-USD	+0.0100%	1h	8.8655	−0.176%	$245K	$5K	10x	as long as short
Paradex UNI-USD-PERP	+0.0100%	8h	8.8572	−0.269%	$25K	—	20x	as long as short
Nado UNI-PERP	+0.0100%	1h	8.8600	−0.238%	$853K	$3.9M	10x	as long as short
Aster UNIUSDTshort	+0.0100%	8h	8.8670	−0.159%	$1.0M	$3.4M	50x

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica UNI	+0.0100%	1h	8.8632	−0.202%	$297K	$559K	10x	as long as short
Binance UNIUSDT	+0.0100%	8h	8.8547	−0.297%	$216.8M	$593.2M	75x	as long as short
Arcus UNI-USD	+0.0100%	1h	8.8660	−0.170%	$273K	$611K	10x	as long as short
Gate UNI_USDT	+0.0100%	8h	8.8640	−0.193%	$23.0M	$59.0M	75x	as long as short
MEXC UNI_USDT	+0.0100%	8h	8.8640	−0.193%	$43.0M	$24.5M	200x	as long as short
KuCoin UNIUSDTM	+0.0100%	8h	8.8630	−0.204%	$13.8M	$13.6M	75x	as long as short
Bitget UNIUSDT	+0.0100%	8h	8.8390	−0.474%	$31.9M	$41.0M	75x	as long as short
BingX UNI-USDT	+0.0100%	8h	8.8630	−0.204%	—	$49.8M	—	as long as short
Backpack UNI_USDC_PERP	+0.0100%	1h	8.8676	−0.152%	$984K	$2.3M	10x	as long as short
edgeX UNIUSDC	+0.0100%	4h	8.8325	−0.548%	$166K	$344K	20x	as long as short
GRVT UNI_USDT_Perp	+0.0100%	8h	8.8304	−0.571%	$615K	$2.6M	10x	as long as short
ApeX Omni UNIUSDT	+0.0100%	1h	8.8330	−0.542%	$83K	$711K	50x	as long as short
StandX UNI-USD	+0.0100%	1h	8.8660	−0.170%	$105K	$3.2M	20x	as long as short
Polymarket Perps UNI-USD	+0.0100%	1h	8.8653	−0.178%	$87K	$325K	10x	as long as short
Orderly PERP_UNI_USDC	+0.0100%	8h	8.8670	−0.159%	$16K	$1.7M	10x	as long as short
SunX UNI-USDT	+0.0100%	8h	8.8695	−0.131%	$36K	$1.3M	30x	as long as short
SoDEX UNI-USD	+0.0100%	1h	8.8625	−0.209%	$25K	$661K	10x	as long as short
HTX UNI-USDT	+0.0100%	8h	8.8722	−0.100%	$724K	$4.3M	75x	as long as short
Phemex UNIUSDT	+0.0100%	8h	8.8630	−0.204%	$26.7M	$4.3M	50x	as long as short
Extended UNI-USD	+0.0104%	1h	8.8408	−0.454%	$300K	$1.4M	25x	as long as short
Aevo UNI-PERP	+0.0104%	1h	8.8646	−0.186%	$31K	$1K	3x	as long as short
Coinbase International UNI-PERP-INTX	+0.0200%	1h	8.8600	−0.238%	$1.0M	$5.3M	50x	as long as short
BloFin UNI-USDT	+0.0220%	8h	8.8620	−0.215%	$9.8M	$3.3M	75x	as long as short
Kraken Futures PF_UNIUSD	+0.0268%	1h	8.8690	−0.137%	$5.0M	$7.1M	50x	as long as short
Hyperliquid UNI	+0.0358%	1h	8.8775	−0.041%	$96.6M	$59.8M	10x	as long as short
Reya UNIRUSDPERP	+0.0359%	1h	8.8615	−0.221%	$16K	—	20x	as long as short
GMX UNI/USD [UNI-USDC]	L +0.0379% / S −0.0320%	1h	8.8657	−0.173%	$556K	—	120x	as long as short
Aftermath Perps UNIUSD	+0.0464%	1h	8.8523	−0.324%	$1K	$50K	10x	as long as short
Lighter UNIlong	+0.0496%	1h	8.8811	long leg	$4.5M	$5.4M	15x
Injective UNI/USDC PERP	+0.2702%	1h	8.7900	−1.026%	$657	$97K	12x	as long as short