Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0336%/8h= −36.8% APRpaid last 24h −0.054%

Price spread now: Aster against Lighter−0.023%7-day average −0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$117as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$750.745% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.420%−$42 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now −0.023%, 7d avg −0.057%

Together, before fees−0.409%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.034% dearer against Lighter than usual: you sell high and buy low (spread −0.023% now, against its 7-day average of −0.057%): +$3 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NBIS	231.12	0.0336	pay 0.0042% / 1h	52m 19s	$941K	$3.9M	10x
Short	Aster NBISUSDT	231.07	0	get 0.0000% / 8h	1h 52m	$84K	$311K	50x

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 −0.023%Rate

Funding earned: −$70.56
Price spread: −0.023% → −0.057%: $3.39
Slippage, 4 orders: −$66.54
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$141.72
Costs to cover: 0.745%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Aster: live order book, 55 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, 5 min ago	0.43 bp	0.9 bp −$1	14.6 bp −$146	102.7 bp −$10.3K	doesn't fit
Sell Aster live order book, 55 min ago	3.45 bp	26.4 bp −$26	1766.0 bp −$17.7K	doesn't fit	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
Bitget NBISUSDT	−0.0395%	8h	231.21	+0.039%	$2.3M	$4.5M	20x	as long as short
Aster NBISUSDTshort	0.0000%	8h	231.07	−0.023%	$84K	$311K	50x
Extended NBIS-USD	0.0000%	1h	231.08	−0.018%	$145K	$742K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.13	+0.004%	$18.6M	$87.1M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.21	+0.039%	$4.9M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.06	−0.026%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.13	+0.004%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.22	+0.045%	$2.8M	$602K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.42	+0.130%	$5K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.40	+0.121%	$1K	$1.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NBIS-USDT	0.0000%	8h	231.31	+0.082%	$15K	$61K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.13	+0.004%	$1.6M	$961K	10x	as long as short
BloFin NBIS-USDT	+0.0030%	8h	231.30	+0.078%	$204K	$206K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	231.32	+0.087%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.30	+0.078%	—	$220K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.07	−0.022%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	231.07	−0.022%	$88	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.24	+0.052%	$151K	$548K	10x	as long as short
QFEX NBIS-USD	+0.0056%	1h	231.14	+0.009%	$1.5M	$3.9M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.03	−0.039%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.14	+0.009%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.11	−0.005%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	232.18	+0.459%	$352K	$816K	10x	as long as short
Nado NBIS-PERP	+0.0136%	1h	231.04	−0.034%	$38K	$115K	3x	as long as short
tradeXYZ xyz:NBIS	+0.0196%	1h	231.06	−0.026%	$54.3M	$21.0M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0226%	1h	231.12	0.000%	$34K	$49K	10x	as long as short
Phoenix NBIS	+0.0311%	1h	231.70	+0.251%	$7K	$150K	10x	as long as short
Lighter NBISlong	+0.0336%	1h	231.12	long leg	$941K	$3.9M	10x
Entropy io:NBIS	+0.0537%	1h	231.39	+0.117%	$10.0M	$3.1M	10x	as long as short
edgeX NBISUSDC	+0.0655%	4h	231.33	+0.089%	$37K	$226K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0684%	1h	231.07	−0.021%	$23K	$15K	20x	as long as short