Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0164%/8h= +18.0% APRpaid last 24h −0.010%

Price spread now: Binance against Lighter+0.058%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 Binance

What this pair did over the last

the charts below follow

Funding, last 6 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 for this trade now. Funding pays +$5 a day on $10k at the current rate, and Binance is 0.058% dearer against Lighter than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NOW	138.06	0.0032	pay 0.0004% / 1h	51m 18s	$5K	$184	5x
Short	Binance NOWUSDT	138.14	0.0196	get 0.0196% / 8h	3h 51m	$1.8M	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.058%Rate

Funding earned: $34.54
Price spread: +0.058% → 0.000%: $5.79
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: $30.33
Costs to cover: 0.100%
Break-even: 0.9 days

Slippage unknown: Lighter: no order-book sample; Binance: live order book, 12 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 Binance live order book, 12 min ago	1.09 bp	12.2 bp −$12	51.2 bp −$512	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.

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
Aster NOWUSDT	0.0000%	8h	138.45	+0.281%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.92	−0.101%	$491K	$226K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.85	−0.152%	$1.1M	$1.5M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	138.09	+0.022%	$249K	$348K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.98	−0.058%	$781K	$235K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	138.13	+0.051%	$833	$381K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.13	+0.051%	$5K	$33K	20x	as long as short
Lighter NOWlong	+0.0032%	1h	138.06	long leg	$5K	$184	5x
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.260%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.88	−0.130%	—	—	25x	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	137.89	−0.123%	$317K	$635K	20x	as long as short
Binance NOWUSDTshort	+0.0196%	8h	138.14	+0.058%	$1.8M	$1.4M	20x
Bybit NOWUSDT	+0.0204%	8h	138.09	+0.022%	$1.6M	$3.3M	25x	as long as short
BloFin NOW-USDT	+0.0211%	8h	138.16	+0.072%	$46K	$17K	20x	as long as short
GRVT NOW_USDT_Perp	+0.0404%	8h	138.07	+0.010%	$360	$147K	10x	as long as short
tradeXYZ xyz:NOW	+0.0429%	1h	137.95	−0.080%	$2.1M	$226K	10x	as long as short