Funding arb · Price arb /

NOK

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Lighter against Phemex−0.137%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Lighter

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 · farm boardneeds both histories

Funding pays, the price is against you. Lighter is 0.137% cheaper against Phemex than usual: you would sell low and buy high (spread −0.137% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 14 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NOKUSDT	10.980	0	get 0.0000% / 8h	18m 04s	$1.6M	$519K	10x
Short	Lighter NOK	10.965	0.0032	get 0.0004% / 1h	18m 04s	—	—	10x

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 −0.137%Rate

Funding earned: $6.72
Price spread: −0.137% → 0.000%: −$13.66
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$18.94
Costs to cover: 0.120%
Break-even: 26.7 days

Slippage unknown: Phemex: live order book, 5 min ago; Lighter: no order-book sample. 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 Phemex live order book, 5 min ago	9.12 bp	65.5 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

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	10.972	−0.073%	$67K	$7K	20x	as long as short
Extended NOK-USD	0.0000%	1h	10.969	−0.102%	$38K	$202K	10x	as long as short
Binance NOKUSDT	0.0000%	8h	10.971	−0.084%	$7.5M	$8.7M	20x	as long as short
OKX NOK-USDT-SWAP	0.0000%	8h	10.976	−0.036%	$1.2M	$1.2M	20x	as long as short
Gate NOK_USDT	0.0000%	8h	10.982	+0.018%	$983K	$1.0M	50x	as long as short
MEXC NOKSTOCK_USDT	0.0000%	8h	10.970	−0.091%	$1.6M	$115K	50x	as long as short
Bitget NOKSTOCKUSDT	0.0000%	8h	10.984	+0.036%	$1.5M	$568K	20x	as long as short
Variational Omni NOK	0.0000%	8h	10.964	−0.150%	$71K	$54K	—	as long as short
GRVT NOK_USDT_Perp	0.0000%	8h	10.972	−0.074%	$3K	$161K	10x	as long as short
SunX NOK-USDT	0.0000%	8h	10.970	−0.091%	$834	$1.5M	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NOK-USDT	0.0000%	8h	10.960	−0.182%	$9K	$5K	10x	as long as short
Phemex NOKUSDTlong	0.0000%	8h	10.980	long leg	$1.6M	$519K	10x
Lighter NOKshort	+0.0032%	1h	10.965	−0.137%	—	—	10x
Vest NOK-PERP	+0.0046%	1h	10.960	−0.182%	—	—	10x	as long as short
tradeXYZ xyz:NOK	+0.0050%	1h	10.965	−0.137%	$4.3M	$989K	10x	as long as short
KuCoin NOKUSDTM	+0.0100%	8h	10.960	−0.182%	$300K	$279K	20x	as long as short