Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0801%/8h= +87.7% APRpaid last 24h +0.020%

Price spread now: GRVT against Lighter+0.094%48s7-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 GRVT

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 · GRVT: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and GRVT is 0.094% dearer against Lighter than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 48 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	Lighter NOW	140.49	0.0032	pay 0.0004% / 1h	8m 44s	$5K	$309	5x
Short	GRVT NOW_USDT_Perp	140.62	0.0833	get 0.0833% / 8h	4h 08m	$402	$119K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.094%Rate

Funding earned: $168.21
Price spread: +0.094% → 0.000%: $9.4
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $168.61
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Lighter: no order-book sample; GRVT: live order book, 31 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 GRVT live order book, 31 min ago	3.91 bp	19.3 bp −$19	doesn't fit	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 exchanges

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	140.67	+0.128%	$521K	$258K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	140.41	−0.057%	$1.1M	$1.4M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	140.64	+0.107%	$240K	$298K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	140.62	+0.093%	$827K	$277K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	140.66	+0.121%	$855	$253K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	140.79	+0.214%	$5K	$36K	20x	as long as short
Lighter NOWlong	+0.0032%	1h	140.49	long leg	$5K	$309	5x
Injective NOW/USDC PERP	+0.0033%	1h	139.80	−0.491%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	140.50	+0.007%	—	—	25x	as long as short
KuCoin NOWUSDTM	+0.0100%	8h	140.60	+0.078%	$302K	$855K	20x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NOWUSDT	+0.0279%	8h	140.91	+0.299%	$41K	$4K	20x	as long as short
tradeXYZ xyz:NOW	+0.0366%	1h	140.56	+0.050%	$2.1M	$243K	10x	as long as short
Binance NOWUSDT	+0.0414%	8h	140.68	+0.135%	$1.9M	$1.6M	20x	as long as short
BloFin NOW-USDT	+0.0426%	8h	140.73	+0.171%	$47K	$19K	20x	as long as short
Bybit NOWUSDT	+0.0462%	8h	140.71	+0.157%	$1.6M	$199K	25x	as long as short
GRVT NOW_USDT_Perpshort	+0.0833%	8h	140.62	+0.094%	$402	$119K	10x