Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0520%/8h= −56.9% APRpaid last 24h +0.008%

Price spread now: Lighter against GRVT−0.060%7-day average — · you buy dearer than you sell

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

Long on GRVT 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 airdropGRVT: Active · Lighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Lighter is 0.060% cheaper against GRVT than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT NOW_USDT_Perp	137.93	0.0552	pay 0.0552% / 8h	6h 20m	$559	$154K	10x
Short	Lighter NOW	137.85	0.0032	get 0.0004% / 1h	20m 55s	$5K	$178	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against GRVT. 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 GRVTbpFee LighterbpOrdersPrice spread, now −0.060%Rate

Funding earned: −$109.2
Price spread: −0.060% → 0.000%: −$5.95
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$124.15
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 42 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 GRVT live order book, 42 min ago	4.34 bp	25.5 bp −$26	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.

NOW 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
Aster NOWUSDT	0.0000%	8h	138.59	+0.475%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.94	+0.006%	$488K	$227K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.72	−0.154%	$1.1M	$1.9M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	137.95	+0.013%	$245K	$371K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.95	+0.013%	$781K	$234K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	137.94	+0.006%	$1K	$401K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.10	+0.122%	$5K	$29K	20x	as long as short
Lighter NOWshort	+0.0032%	1h	137.85	−0.060%	$5K	$178	5x
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.354%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.73	−0.147%	—	—	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOWUSDTM	+0.0100%	8h	137.78	−0.110%	$317K	$655K	20x	as long as short
Binance NOWUSDT	+0.0131%	8h	137.97	+0.026%	$1.8M	$1.5M	20x	as long as short
Bybit NOWUSDT	+0.0140%	8h	137.87	−0.045%	$1.5M	$5.3M	25x	as long as short
tradeXYZ xyz:NOW	+0.0315%	1h	137.79	−0.103%	$2.1M	$229K	10x	as long as short
GRVT NOW_USDT_Perplong	+0.0552%	8h	137.93	long leg	$559	$154K	10x