Blanch asparagus in 2 batches in a large saucepan of boiling salted water 1 minute. Transfer to a colander and rinse under cold running water to stop cooking. Drain well and pat dry.
Whisk together mayonnaise, soy sauce, sugar, lemon juice, and wasabi paste until sugar is dissolved.
Serve asparagus with dip.
Recipe courtesy of Gourmet Magazine