Funding arb · Price arb /

SPCX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0348%/8h= +38.2% APRpaid last 24h +0.018%

Price spread now: Aster against Lighter+0.118%7-day average +0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$120.118% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 7 days−0.058%−$6 · spread now +0.118%, 7d avg +0.057%

Together, before fees−0.068%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Aster is 0.061% dearer against Lighter than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.057%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.009% in total (about -0.5% 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 SPCX	152.25	0.0032	pay 0.0004% / 1h	56m 18s	$1.6M	$7.3M	20x
Short	Aster SPCXUSD1	152.43	0.0380	get 0.0380% / 8h	7h 56m	$18.9M	$30.7M	20x

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 +0.118%Rate

Funding earned: $73.17
Price spread: +0.118% → +0.057%: $6.14
Slippage, 4 orders: −$3.85
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: $67.46
Costs to cover: 0.118%
Break-even: 0.5 days

Slippage from Lighter: live order book, 7 min ago; Aster: live order book, 3 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, 7 min ago	0.33 bp	0.3 bp $0	1.0 bp −$10	6.3 bp −$634	doesn't fit
Sell Aster live order book, 3 min ago	0.98 bp	5.2 bp −$5	10.1 bp −$101	doesn't fit	doesn't fit

SPCX on 39 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
GMX SPCX/USD [ETH-USDC]	L −0.0187% / S +0.0435%	1h	152.25	−0.003%	$90K	—	20x	as long as short
BloFin SPCX-USDT	−0.0008%	8h	152.36	+0.072%	$1.9M	$1.2M	75x	as long as short
Bybit SPCXUSDT	0.0000%	8h	152.33	+0.053%	$30.6M	$42.8M	100x	as long as short
Gate SPCX_USDT	0.0000%	8h	152.32	+0.046%	$96.2M	$31.6M	100x	as long as short
Bitget SPCXUSDT	0.0000%	8h	152.31	+0.039%	$31.1M	$66.3M	75x	as long as short
GRVT SPCX_USDT_Perp	0.0000%	8h	172.52	+13.314%	$4K	$882	10x	as long as short
StandX SPCX-USD	0.0000%	1h	152.34	+0.059%	$300K	$2.6M	20x	as long as short
Bullet SPCX-USD	0.0000%	1h	152.36	+0.072%	$11K	$192K	10x	as long as short
SunX SPCX-USDT	0.0000%	8h	152.57	+0.210%	$8K	$875K	10x	as long as short
HTX SPCX-USDT	0.0000%	8h	152.41	+0.105%	$1.3M	$1.8M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps SPCXUSD	+0.0021%	1h	152.26	+0.008%	$7K	$8K	10x	as long as short
Nado SPCX-PERP	+0.0026%	1h	152.27	+0.013%	$632K	$810K	20x	as long as short
Lighter SPCXlong	+0.0032%	1h	152.25	long leg	$1.6M	$7.3M	20x
Lighter RH SPCX	+0.0032%	1h	152.24	−0.007%	$2.5M	$7.2M	20x	as long as short
QFEX SPCX-USD	+0.0035%	1h	152.29	+0.026%	$1.2M	$5.5M	10x	as long as short
Arcus SPCX-USD	+0.0040%	1h	152.29	+0.026%	$102K	$299K	5x	as long as short
Vest SPCX-USD-PERP	+0.0046%	1h	152.33	+0.053%	—	$1.2M	10x	as long as short
tradeXYZ xyz:SPCX	+0.0048%	1h	152.28	+0.020%	$129.7M	$129.6M	20x	as long as short
Polymarket Perps SPCX-USD	+0.0050%	1h	152.29	+0.026%	$488K	$1.2M	10x	as long as short
SoDEX SPCX-USD	+0.0050%	1h	152.30	+0.033%	$1.7M	$99K	20x	as long as short
Phemex SPCXUSDT	+0.0050%	8h	152.30	+0.033%	$529K	$369K	50x	as long as short
Ondo Perps SPCX-USD.P	+0.0050%	1h	152.25	0.000%	$3.2M	$2.2M	10x	as long as short
Paradex SPCX-USD-PERP	+0.0069%	8h	152.31	+0.040%	$101	—	5x	as long as short
Variational Omni SPCX	+0.0098%	8h	152.27	+0.016%	$5.9M	$2.8M	—	as long as short
Pacifica SPCX	+0.0100%	1h	152.28	+0.020%	$168K	$118K	10x	as long as short
KuCoin SPCXUSDTM	+0.0100%	8h	152.20	−0.033%	$13.0M	$5.6M	20x	as long as short
ApeX Omni SPCXUSDT	+0.0100%	1h	152.38	+0.085%	$58K	$271K	50x	as long as short
Orderly PERP_SPCX_USDC_mythos	+0.0100%	8h	152.36	+0.072%	$14K	$7K	10x	as long as short
Aevo SPCX-PERP	+0.0104%	1h	152.31	+0.037%	$88	—	10x	as long as short
Binance SPCXUSDT	+0.0111%	8h	152.35	+0.066%	$253.6M	$1.36B	75x	as long as short
Extended SPCX-USD	+0.0112%	1h	152.31	+0.040%	$723K	$5.3M	10x	as long as short
OKX SPCX-USDT-SWAP	+0.0127%	8h	152.32	+0.046%	$39.7M	$166.7M	75x	as long as short
Deribit SPCX_USDC-PERPETUAL	+0.0144%	1h	152.29	+0.026%	$88K	$1.4M	10x	as long as short
RISEx SPCX/USDC	+0.0190%	1h	152.35	+0.066%	$381K	$506K	20x	as long as short
Coinbase International SPCX-PERP-INTX	+0.0280%	1h	152.34	+0.059%	$728K	$892K	10x	as long as short
edgeX SPCXUSDC	+0.0337%	4h	152.32	+0.046%	$1.7M	$889K	20x	as long as short
Phoenix SPCX	+0.0368%	1h	152.35	+0.066%	$444K	$268K	15x	as long as short
Aster SPCXUSD1short	+0.0380%	8h	152.43	+0.118%	$18.9M	$30.7M	20x
Injective SPCX/USDC PERP	+0.0440%	1h	152.53	+0.184%	$9K	$28K	5.5x	as long as short