Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0101%/8h= −11.1% APRpaid last 24h +0.016%

Price spread now: Lighter against BloFin−0.086%60s7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Lighter is 0.086% cheaper against BloFin than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 60 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin NOW-USDT	139.57	0.0133	pay 0.0133% / 8h	17m 47s	$46K	$18K	20x
Short	Lighter NOW	139.45	0.0032	get 0.0004% / 1h	17m 47s	$5K	$171	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now −0.086%Rate

Funding earned: −$21.21
Price spread: −0.086% → 0.000%: −$8.6
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$41.81
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: no order-book sample; 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 BloFin no order-book sample	—	—	—	—	—
Sell Lighter no order-book sample	—	—	—	—	—

BloFin and 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.

NOW 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
OKX NOW-USDT-SWAP	0.0000%	8h	139.28	−0.208%	$507K	$252K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	139.40	−0.122%	$1.1M	$1.5M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	139.53	−0.029%	$253K	$347K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	139.34	−0.165%	$770K	$263K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	139.56	−0.007%	$966	$326K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	139.72	+0.107%	$5K	$36K	20x	as long as short
Lighter NOWshort	+0.0032%	1h	139.45	−0.086%	$5K	$171	5x
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+0.165%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	139.45	−0.086%	—	—	25x	as long as short
Aster NOWUSDT	+0.0070%	8h	139.95	+0.270%	$42K	$859	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOWUSDTM	+0.0100%	8h	139.44	−0.093%	$317K	$646K	20x	as long as short
BloFin NOW-USDTlong	+0.0133%	8h	139.57	long leg	$46K	$18K	20x
Binance NOWUSDT	+0.0149%	8h	139.59	+0.011%	$1.8M	$1.5M	20x	as long as short
Bybit NOWUSDT	+0.0167%	8h	139.64	+0.050%	$1.6M	$294K	25x	as long as short
GRVT NOW_USDT_Perp	+0.0275%	8h	139.48	−0.064%	$234	$139K	10x	as long as short
tradeXYZ xyz:NOW	+0.0332%	1h	139.46	−0.079%	$2.1M	$236K	10x	as long as short