Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.063%

Price spread now: Lighter against Aster0.000%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1081.080% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.422%+$42 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now 0.000%, 7d avg +0.060%

Together, before fees+0.447%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.060% cheaper against Aster than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.060%). If the spread goes back, that is −$6 on $10k: about 6.3 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.422% in total) that is about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster NBISUSDT	235.43	0.0072	pay 0.0072% / 8h	4h 35m	$79K	$310K	50x
Short	Lighter NBIS	235.43	0.0104	get 0.0013% / 1h	35m 30s	$898K	$4.0M	10x

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 0.000%Rate

Funding earned: $6.63
Price spread: 0.000% → +0.060%: −$6.01
Slippage, 4 orders: −$100.02
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$107.4
Costs to cover: 1.080%
Break-even: 120.3 days

Slippage from Aster: live order book, 21 min ago; Lighter: live order book, 7 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, 21 min ago	16.10 bp	82.1 bp −$82	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	0.42 bp	0.4 bp $0	3.0 bp −$30	56.7 bp −$5,672	doesn't fit

NBIS on 31 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
Nado NBIS-PERP	−0.0126%	1h	235.31	−0.053%	$38K	$115K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	235.52	+0.038%	$5.1M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.55	+0.051%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.54	+0.047%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.50	+0.030%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.59	+0.068%	$5K	$119K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.55	+0.051%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.58	+0.064%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.54	+0.047%	$1.6M	$956K	10x	as long as short
Variational Omni NBIS	+0.0027%	8h	235.51	+0.033%	$2.9M	$563K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX NBIS-USD	+0.0038%	1h	235.51	+0.034%	$1.5M	$4.2M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.41	−0.008%	$43K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.73	+0.127%	—	$216K	5x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0048%	1h	235.34	−0.038%	$35K	$48K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	235.35	−0.034%	$54.9M	$19.8M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	235.38	−0.021%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.54	+0.047%	$9	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.53	+0.043%	$161K	$504K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	235.35	−0.034%	$389K	$724K	10x	as long as short
Aster NBISUSDTlong	+0.0072%	8h	235.43	long leg	$79K	$310K	50x
Binance NBISUSDT	+0.0076%	8h	235.55	+0.051%	$19.4M	$84.6M	25x	as long as short
Extended NBIS-USD	+0.0080%	1h	235.49	+0.025%	$147K	$702K	10x	as long as short
BloFin NBIS-USDT	+0.0095%	8h	235.58	+0.064%	$207K	$205K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.31	−0.051%	$485K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.51	+0.034%	$2K	$3K	10x	as long as short
Lighter NBISshort	+0.0104%	1h	235.43	0.000%	$898K	$4.0M	10x
Aevo NBIS-PERP	+0.0104%	1h	235.48	+0.021%	—	—	10x	as long as short
Phoenix NBIS	+0.0272%	1h	235.54	+0.047%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0409%	1h	235.49	+0.026%	$10.2M	$3.2M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0477%	1h	235.38	−0.019%	$24K	$15K	20x	as long as short
edgeX NBISUSDC	+0.0882%	4h	235.57	+0.060%	$38K	$226K	10x	as long as short