ASTS

Funding pays, the price is against you. GRVT is 0.143% cheaper against SunX than usual: you would sell low and buy high (spread −0.146% now, against its 7-day average of −0.003%). If the spread goes back, that is −$14 on $10k: about 7 hours of funding at the current rate (+$50 a day). At the pace of the last 7 days (+0.155% in total) that is about 6.5 days. The two prices were read 74 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.155% in total (about 8.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$16.50 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.