Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aster against Lighter−0.205%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.205% cheaper against Lighter than usual: you would sell low and buy high, −$20 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter AXS	1.0734	0.0096	pay 0.0012% / 1h	0m 31s	$33K	$41K	5x
Short	Aster AXSUSDT	1.0712	0.0100	get 0.0050% / 4h	2h 00m	$73K	$14K	10x

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 −0.205%Rate

Funding earned: $0.84
Price spread: −0.205% → 0.000%: −$20.5
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$27.66
Costs to cover: 0.080%
Break-even: 237.5 days

Slippage unknown: Lighter: no order-book sample; Aster: no order-book sample. Net counts fees only.

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 no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Lighter and Aster: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AXS on 19 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
Injective AXS/USDC PERP	+0.0033%	1h	1.0720	−0.130%	$5	$47K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0085%	4h	1.0710	−0.224%	$3K	—	10x	as long as short
Lighter AXSlong	+0.0096%	1h	1.0734	long leg	$33K	$41K	5x
Hyperliquid AXS	+0.0100%	1h	1.0714	−0.186%	$258K	$313K	5x	as long as short
Aster AXSUSDTshort	+0.0100%	4h	1.0712	−0.205%	$73K	$14K	10x
Binance AXSUSDT	+0.0100%	4h	1.0707	−0.253%	$6.0M	$10.0M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0712	−0.205%	$3.8M	$4.2M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0705	−0.270%	$1.4M	$2.9M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0709	−0.233%	$853K	$997K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0708	−0.242%	$11.4M	$732K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin AXSUSDTM	+0.0100%	4h	1.0710	−0.224%	$600K	$302K	50x	as long as short
Bitget AXSUSDT	+0.0100%	4h	1.0710	−0.224%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDT	+0.0100%	4h	1.0711	−0.214%	—	$2.6M	—	as long as short
Variational Omni AXS	+0.0100%	8h	1.0715	−0.181%	$36K	$3K	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0704	−0.282%	$764K	$906K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0708	−0.242%	$2K	$1.3M	20x	as long as short
SoDEX AXS-USD	+0.0100%	1h	1.0710	−0.224%	$733	$3K	5x	as long as short
Extended AXS-USD	+0.0104%	1h	1.0706	−0.259%	$9K	$240K	10x	as long as short
Kraken Futures PF_AXSUSD	+0.0357%	1h	1.0725	−0.086%	$145K	$335K	20x	as long as short