Funding arb · Price arb /

NOK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h —

Price spread now: Variational Omni against Lighter+0.220%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

Together, before fees—+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.220% dearer against Lighter than usual: you sell high and buy low (spread +0.220% now, against zero (this spread has no 7-day history yet)): +$22 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 23 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NOK	10.929	0.0032	pay 0.0004% / 1h	50m 41s	—	—	10x
Short	Variational Omni NOK	10.953	0	get 0.0000% / 8h	2h 50m	$135K	$113K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Lighter. 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 LighterbpFee Variational OmnibpOrdersPrice spread, now +0.220%Rate

Funding earned: −$6.72
Price spread: +0.220% → 0.000%: $22.04
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $15.32
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: no order-book sample; Variational Omni: RFQ quote, 63 min ago. 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 Lighter no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 63 min ago	11.92 bp	doesn't fit	115.3 bp −$1,153	doesn't fit	doesn't fit

Lighter: 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.

NOK on 16 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
Aster NOKUSDT	0.0000%	8h	10.950	+0.195%	$67K	$7K	20x	as long as short
Extended NOK-USD	0.0000%	1h	10.957	+0.256%	$42K	$165K	10x	as long as short
Binance NOKUSDT	0.0000%	8h	10.960	+0.284%	$7.3M	$9.4M	20x	as long as short
OKX NOK-USDT-SWAP	0.0000%	8h	10.959	+0.274%	$1.2M	$1.2M	20x	as long as short
MEXC NOKSTOCK_USDT	0.0000%	8h	10.940	+0.101%	$1.6M	$111K	50x	as long as short
Bitget NOKSTOCKUSDT	0.0000%	8h	10.961	+0.293%	$1.5M	$592K	20x	as long as short
Variational Omni NOKshort	0.0000%	8h	10.953	+0.220%	$135K	$113K	—
GRVT NOK_USDT_Perp	0.0000%	8h	10.945	+0.146%	$3K	$137K	10x	as long as short
SunX NOK-USDT	0.0000%	8h	10.950	+0.192%	$887	$1.4M	10x	as long as short
HTX NOK-USDT	0.0000%	8h	10.930	+0.009%	$9K	$5K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex NOKUSDT	0.0000%	8h	10.960	+0.284%	$1.6M	$570K	10x	as long as short
Lighter NOKlong	+0.0032%	1h	10.929	long leg	—	—	10x
Vest NOK-PERP	+0.0046%	1h	10.920	−0.082%	—	—	10x	as long as short
Gate NOK_USDT	+0.0091%	8h	10.971	+0.384%	$952K	$995K	50x	as long as short
KuCoin NOKUSDTM	+0.0100%	8h	10.940	+0.101%	$299K	$420K	20x	as long as short
tradeXYZ xyz:NOK	+0.0808%	1h	10.936	+0.064%	$4.3M	$1.2M	10x	as long as short