Funding arb · Price arb /

NAS100

RWAall NAS100 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter against Phemex+0.125%7-day average +0.164% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$530.534% of the position

Long on Phemex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.192%−$19 on $10k

Price spread, last 4 days (all we have)−0.005%$0 · spread now +0.125%, 7d avg +0.164%

Together, before fees−0.197%+ Points / potential airdropLighter: Season 3 · farm board−$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.038% cheaper against Phemex than usual: you would sell low and buy high (spread +0.125% now, against its 7-day average of +0.164%). If the spread goes back, that is −$4 on $10k: about 4.0 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.192%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NAS100USDT	30,434.8	0	get 0.0000% / 4h	49m 25s	$1.4M	$194K	10x
Short	Lighter US100	30,473	0.0032	get 0.0004% / 1h	49m 25s	$3.9M	$94.0M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Phemex. 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 PhemexbpFee LighterbpOrdersPrice spread, now +0.125%Rate

Funding earned: $6.72
Price spread: +0.125% → +0.164%: −$3.82
Slippage, 4 orders: −$41.44
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$50.54
Costs to cover: 0.534%
Break-even: 59.6 days

Slippage from Phemex: live order book, 3 min ago; Lighter: live order book, 5 min ago.

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 Phemex live order book, 3 min ago	11.82 bp	27.8 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.49 bp	0.5 bp $0	0.6 bp −$6	8.0 bp −$799	229.6 bp −$114.8K

NAS100 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
Orderly PERP_NAS100_USDC	−0.0281%	8h	30,468.3	+0.110%	$101K	$38K	20x	as long as short
Gate NAS100_USDT	−0.0200%	8h	30,422.6	−0.040%	$2.0M	$3.3M	100x	as long as short
MEXC NAS100_USDT	−0.0072%	8h	30,477	+0.139%	$23.9M	$20.6M	200x	as long as short
OKX US100-USDT-SWAP	0.0000%	8h	30,438	+0.010%	$268K	$380K	20x	as long as short
Bitget NDX100USDT	0.0000%	8h	30,490	+0.181%	$3.5M	$630K	50x	as long as short
Bullet US100-USD	0.0000%	1h	30,471	+0.119%	$4K	$91K	10x	as long as short
Phemex NAS100USDTlong	0.0000%	4h	30,434.8	long leg	$1.4M	$194K	10x
QFEX US100-USD	0.0000%	1h	30,474	+0.129%	$1.3M	$1.4M	30x	as long as short
Lighter US100short	+0.0032%	1h	30,473	+0.125%	$3.9M	$94.0M	30x
Extended TECH100m-USD	+0.0032%	1h	30,476.8	+0.138%	$2.0M	$5.9M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NDX-USD-PERP	+0.0046%	1h	30,774.6	+1.116%	—	$203.2M	50x	as long as short
Paradex US100-USD-PERP	+0.0050%	8h	30,470.6	+0.117%	—	—	5x	as long as short
Polymarket Perps NAS100-USD	+0.0050%	1h	30,476	+0.135%	$7.2M	$2.0M	50x	as long as short
Ondo Perps US100-USD.P	+0.0050%	1h	30,476.9	+0.138%	$6.0M	$8.9M	25x	as long as short
Kraken Futures PF_US100USD	+0.1160%	1h	30,496.4	+0.202%	$141K	$141K	20x	as long as short