Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0001%/8h= +0.2% APRpaid last 24h +0.114%

Price spread now: Lighter against Aster+0.100%7-day average −0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$1101.100% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.230%−$23 on $10k

Price spread, last 4 days (all we have)−0.164%−$16 · spread now +0.100%, 7d avg −0.046%

Together, before fees−0.394%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board−$39 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: Lighter is 0.146% dearer against Aster than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster SUSDT	0.03906	0.0095	pay 0.0047% / 4h	1h 25m	$43K	$212K	10x
Short	Lighter S	0.03910	0.0096	get 0.0012% / 1h	25m 28s	$164K	$223K	5x

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 +0.100%Rate

Funding earned: $0.31
Price spread: +0.100% → −0.046%: $14.6
Slippage, 4 orders: −$101.98
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$95.07
Costs to cover: 1.100%
Break-even: 2177.5 days

Slippage from Aster: live order book, 56 min ago; Lighter: live order book, 49 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 Aster live order book, 56 min ago	10.19 bp	33.8 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 49 min ago	15.24 bp	21.4 bp −$21	95.0 bp −$950	doesn't fit	doesn't fit

S on 25 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
Kraken Futures PF_SUSD	−0.1602%	1h	0.03902	−0.099%	$33K	$26K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.050%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0847%	4h	0.03915	+0.228%	$609K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0196% / S +0.0189%	1h	0.03907	+0.031%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03905	−0.028%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03908	+0.053%	$602	—	150x	as long as short
Orderly PERP_S_USDC	+0.0029%	4h	0.03906	−0.002%	$99K	$346K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.964%	$2K	$37K	12x	as long as short
Aster SUSDTlong	+0.0095%	4h	0.03906	long leg	$43K	$212K	10x
Lighter Sshort	+0.0096%	1h	0.03910	+0.100%	$164K	$223K	5x

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03907	+0.016%	$980K	$757K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03906	+0.008%	$5.3M	$19.2M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03900	−0.156%	$5.6M	$5.7M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03905	−0.028%	$973K	$5.9M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03903	−0.079%	$319K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03904	−0.054%	$3.5M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03902	−0.105%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03910	+0.100%	$1.2M	$2.6M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03903	−0.079%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03920	+0.356%	$25K	$465K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03903	−0.078%	$219K	$881K	10x	as long as short
01 Exchange SUSD	+0.0136%	1h	0.03900	−0.156%	$24K	$2K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03918	+0.305%	$268K	$126K	75x	as long as short
Backpack S_USDC_PERP	+0.0355%	1h	0.03920	+0.356%	$114K	$301K	5x	as long as short
Deribit S_USDC-PERPETUAL	+0.0518%	1h	0.03910	+0.100%	$66K	$10K	10x	as long as short