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Stock perpetuals on Aster
Verified against Aster's official docs on 2026-09-29. Which stock tickers trade on which venue is on stock perps across DEXs.
Aster Perps lists perpetual futures on US and Hong Kong stocks, and its docs also publish a session table for Korean (KRX) listings. They settle in USDT and trade "with up to 50x leverage". The perps run around the clock while the exchanges do not, so the docs define how the price is set when the underlying is shut, how far orders may stray from it, and what happens on a dividend.
Two ways to compute the mark price
The mark price drives unrealised PnL and liquidations. In standard mode it is the median of three numbers: the index price adjusted for the pending funding, the index plus a 5-minute average of the book's mid minus the index, and the current contract price. Index prices come "from multiple providers including the Pyth Oracle".
In low-liquidity periods Aster switches to EWMA-smoothed mode, replacing the raw contract price with an exponentially weighted average of the last trade (β = e^(−1/1600) per second, carried forward when nothing trades) "to reduce the impact of thin-market price spikes."
Sessions and the 5% off-hours cap
| Market | Regular session | Off-hours | EWMA mark active |
|---|---|---|---|
| US (New York time) | 9:30 AM–4:00 PM | Pre-market 4:00–9:30 AM, post-market 4:00–8:00 PM, overnight 8:00 PM–4:00 AM | Overnight, weekends (Fri 8 PM–Mon 4 AM), public holidays, after half-day closes |
| Hong Kong (HKT) | 9:30 AM–12:00 PM and 1:00–4:00 PM | Lunch 12:00–1:00 PM; closed 4:00 PM–9:30 AM | Market close, lunch break, weekends, public holidays |
| Korea (KST) | 9:00 AM–3:20 PM | Pre-market 8:00–9:00, post-market 3:20–6:00 PM, closed 6:00 PM–9:00 AM | Market close, weekends (Fri 6 PM–Mon 9 AM), public holidays |
In regular sessions, order price limits are "the same as crypto perpetual trading pairs". Off-hours they tighten: a limit order more than 5% more aggressive than the mark price "will be rejected", and a market order "can fill up to 5% more aggressive than MarkPrice, the rest will be canceled". During Hong Kong's lunch break the docs apply the rejection rule to both order types.
Dividends: paid through a special funding round
On the ex-dividend date the stock drops by roughly the dividend, and a perp holder owns no share to be paid. Aster closes that gap with a special funding settlement, run on the day before the ex-date (New York time):
- 3:30 PM: funding interval set to 1 hour, effective 4:00 PM.
- 6:00 PM: the symbol goes reduce-only, so no new positions, and the allowed mark-to-index gap tightens to 1%.
- 8:00 PM: the dividend funding is settled after the normal funding.
- Then normal trading resumes; at 00:00 on the ex-date the funding interval returns to standard.
The special rate is negative, so it "is transferred from Short positions to Long positions". For a cash dividend it is −dividend ÷ (mark price − dividend); for a stock dividend, −the dividend ratio; for both, the cash formula × (1 + ratio). The usual funding caps do not apply, so longs "receive the full dividend adjustment value".
FAQ
Can I open a stock position the evening before an ex-date?
Not from 6:00 PM New York time: the symbol is reduce-only until the dividend funding settles.
Do I pay the dividend if I am short?
Yes, through the special funding round, in full and without the normal cap.
Aster also has Shield Mode stocks. Are they the same?
No. Shield Mode stocks trade without an order book and only in the regular session; see Shield Mode.
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