Funding arb · Price arb /

ASTER

all ASTER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Bybit against Lighter−0.103%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

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

costs, in and out, $10k−$350.351% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 4 days (all we have)+0.054%+$5 · spread now −0.103%, 7d avg −0.054%

Together, before fees+0.006%+ Points / potential airdropLighter: Season 3 · farm board+$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.049% cheaper against Lighter than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ASTER	0.7259	0.0096	pay 0.0012% / 1h	54m 07s	$878K	$918K	5x
Short	Bybit ASTERUSDT	0.7252	0.0100	get 0.0050% / 4h	2h 54m	$48.8M	$25.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.103%Rate

Funding earned: $0.84
Price spread: −0.103% → −0.054%: −$4.92
Slippage, 4 orders: −$24.12
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$39.2
Costs to cover: 0.351%
Break-even: 333.7 days

Slippage from Lighter: live order book, 56 min ago; Bybit: live order book, 5 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, 56 min ago	4.87 bp	9.1 bp −$9	43.8 bp −$438	425.3 bp −$42.5K	doesn't fit
Sell Bybit live order book, 5 min ago	0.69 bp	7.1 bp −$7	34.8 bp −$348	246.6 bp −$24.7K	doesn't fit

ASTER on 32 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
Deribit ASTER_USDC-PERPETUAL	−0.0108%	1h	0.7256	−0.052%	$11K	$72K	25x	as long as short
Coinbase International ASTER-PERP-INTX	−0.0048%	1h	0.7251	−0.113%	$270K	$1.2M	50x	as long as short
Aster ASTERUSDT	0.0000%	4h	0.7256	−0.049%	$52.2M	$112.5M	200x	as long as short
dYdX ASTER-USD	0.0000%	1h	0.7264	+0.056%	$14K	$1K	5x	as long as short
gTrade (Gains Network) ASTER/USD	L +0.0006% / S −0.0005%	1h	0.7258	−0.019%	$23K	—	150x	as long as short
01 Exchange ASTERUSD	+0.0024%	1h	0.7256	−0.048%	$8K	$4K	10x	as long as short
Injective ASTER/USDC PERP	+0.0033%	1h	0.7390	+1.798%	$9	$133K	5.5x	as long as short
Orderly PERP_ASTER_USDC	+0.0060%	4h	0.7259	−0.007%	$13K	$1K	10x	as long as short
Lighter ASTERlong	+0.0096%	1h	0.7259	long leg	$878K	$918K	5x
Nado ASTER-PERP	+0.0100%	1h	0.7262	+0.034%	$341K	$288K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica ASTER	+0.0100%	1h	0.7262	+0.033%	$253K	$83K	10x	as long as short
Binance ASTERUSDT	+0.0100%	4h	0.7254	−0.075%	$89.8M	$122.7M	75x	as long as short
Bybit ASTERUSDTshort	+0.0100%	4h	0.7252	−0.103%	$48.8M	$25.7M	75x
OKX ASTER-USDT-SWAP	+0.0100%	4h	0.7256	−0.048%	$12.4M	$20.3M	50x	as long as short
Gate ASTER_USDT	+0.0100%	4h	0.7260	+0.007%	$6.3M	$5.7M	75x	as long as short
MEXC ASTER_USDT	+0.0100%	4h	0.7257	−0.034%	$33.9M	$20.2M	100x	as long as short
KuCoin ASTERUSDTM	+0.0100%	4h	0.7256	−0.047%	$10.7M	$3.3M	75x	as long as short
Bitget ASTERUSDT	+0.0100%	4h	0.7251	−0.117%	$17.7M	$7.9M	50x	as long as short
BingX ASTER-USDT	+0.0100%	4h	0.7253	−0.090%	—	$9.9M	—	as long as short
Backpack ASTER_USDC_PERP	+0.0100%	1h	0.7257	−0.033%	$210K	$487K	10x	as long as short
Variational Omni ASTER	+0.0100%	4h	0.7271	+0.162%	$2.1M	$413K	—	as long as short
GRVT ASTER_USDT_Perp	+0.0100%	4h	0.7277	+0.238%	$446K	$4.1M	10x	as long as short
ApeX Omni ASTERUSDT	+0.0100%	1h	0.7277	+0.241%	$99K	$733K	50x	as long as short
SunX ASTER-USDT	+0.0100%	4h	0.7268	+0.117%	$2K	$1.7M	20x	as long as short
SoDEX ASTER-USD	+0.0100%	1h	0.7257	−0.034%	$13K	$8K	5x	as long as short
HTX ASTER-USDT	+0.0100%	4h	0.7259	−0.007%	$241K	$143K	20x	as long as short
Extended ASTER-USD	+0.0104%	1h	0.7259	−0.013%	$362K	$635K	25x	as long as short
edgeX ASTERUSDC	+0.0105%	4h	0.7272	+0.175%	$212K	$2.1M	10x	as long as short
Hyperliquid ASTER	+0.0119%	1h	0.7266	+0.083%	$24.8M	$8.0M	5x	as long as short
Kraken Futures PF_ASTERUSD	+0.0298%	1h	0.7261	+0.027%	$337K	$626K	20x	as long as short
GMX ASTER/USD [WBTC.b-USDC]	L +0.0303% / S −0.0215%	1h	0.7259	−0.001%	$27K	—	100x	as long as short
BloFin ASTER-USDT	+0.0340%	4h	0.7264	+0.062%	$3.3M	$2.1M	75x	as long as short