Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against Aster−4.437%67s7-day average — · you buy dearer than you sell

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

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 4.437% cheaper against Aster than usual: you would sell low and buy high (−$444 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 67 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster NOTUSDT	0.0005100	0.0100	pay 0.0050% / 4h	2h 26m	$14K	$9K	5x
Short	Injective NOT/USDC PERP	0.0004874	0.0033	get 0.0004% / 1h	26m 08s	$1K	$13K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −4.437%Rate

Funding earned: −$14
Price spread: −4.437% → 0.000%: −$443.7
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$465.72
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; Injective: 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 Aster no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Aster and Injective: 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.

NOT on 15 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
Variational Omni NOT	−0.0216%	4h	0.0005099	−0.032%	$72K	$39K	—	as long as short
Injective NOT/USDC PERPshort	+0.0033%	1h	0.0004874	−4.437%	$1K	$13K	5.5x
KuCoin NOTUSDTM	+0.0044%	4h	0.0005087	−0.261%	$466K	$134K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005116	+0.300%	$12K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005100	−0.006%	$372K	$51K	3x	as long as short
Aster NOTUSDTlong	+0.0100%	4h	0.0005100	long leg	$14K	$9K	5x
Binance NOTUSDT	+0.0100%	4h	0.0005104	+0.073%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005097	−0.065%	$2.1M	$876K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005105	+0.092%	$640K	$663K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005099	−0.025%	$144K	$81K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005105	+0.092%	$1.3M	$472K	200x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005102	+0.033%	$673K	$407K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005105	+0.092%	—	$723K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005101	+0.009%	$4K	$491	5x	as long as short
Kraken Futures PF_NOTUSD	+0.0201%	1h	0.0005120	+0.389%	$50K	$10K	10x	as long as short