01 vs Aster Funding Arbitrage
3 shared markets · net of estimated fees · updated every few minutes01 and Aster both quote 3 of the same perpetual markets, so a delta-neutral position can be split across the two and collect the difference in their funding. The widest spread right now is SOL — long Aster / short 01 at 31.6% net APR — but the median across all shared markets is 18.2%, which is the number worth planning around.
The long leg is whichever venue prices funding lower for that market. It is a property of the MARKET, not of the exchange, and it flips as rates move: here 0 markets go long on 01 and 3 on Aster. 3 markets clear 5% net APR, 2 clear 10%.
How this pair behaves
01 pays funding every 1h on 4 markets; Aster pays every 4h on 143 markets and every 8h on 95 markets. The two clocks differ, so one leg settles while the other is still accruing: a position held for only a few hours can pay one side without ever collecting from the other. 01 quotes 4 perpetual markets in total and Aster quotes 245; the 3 they share are what this page ranks. Across its own book 01 runs a median funding rate of 16.6% and Aster 10.9%, so the edge here comes from individual markets rather than from a standing gap between the venues.
Spreads by market
top 3 of 3 by net APR| Market | Long | Short | Net APR | Gross | 7d avg | Thin leg vol |
|---|---|---|---|---|---|---|
| SOL | Aster | 01 | 31.6% | 33.7% | +16.6% | $52K |
| HYPE | Aster | 01 | 18.2% | 20.0% | +20.0% | $102K |
| ETH | Aster | 01 | 9.1% | 10.9% | +1.6% | $573K |
Net APR subtracts entry and exit fees, both legs' bid/ask spread and estimated slippage from the gross funding spread. The 7-day average is historical gross funding for the same pair: a current rate close to it suggests the spread has persisted, one far above it is usually a spike that will decay.
Coverage note: 01 and Aster share 3 markets, 0 of them with real depth — below the 10 markets / 5 liquid this page treats as full coverage, so this is a thin sample rather than a picture of the pair.
01 vs Aster — FAQ
How many markets can you arbitrage between 01 and Aster?
3 perpetual markets are quoted on both 01 and Aster right now. 3 of them show a net spread of at least 5% APR after estimated fees, and 0 have at least $1M of 24h volume on the smaller leg.
What is the best 01 / Aster funding spread right now?
SOL: long Aster and short 01 for about 31.6% net APR after estimated fees. The median across all 3 shared markets is 18.2%, so the top of the list is not typical.
Which side pays on the 01 / Aster pair?
It varies by market: 01 is the long (funding-receiving) leg in 0 of the shared markets and Aster in the other 3. The direction is set per market by which venue currently prices funding lower.
Trading the 01 / Aster spread
The trade is one position split across two venues: long the exchange paying the more negative funding, short the one paying the more positive, in the same size. What limits it is not the headline APR but the smaller leg's liquidity, the fees on both sides, and how long the spread survives — funding decays and flips, often within hours. Venue detail: 01 funding rates · Aster funding rates; the full calculation is in the methodology.