Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: OKX against Lighter−0.022%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on OKX

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 −$1 a day on $10k at the current rate, and OKX is 0.022% cheaper against Lighter than usual: you would sell low and buy high (−$2 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	Lighter NOW	138.47	0.0032	pay 0.0004% / 1h	27m 49s	$5K	$173	5x
Short	OKX NOW-USDT-SWAP	138.44	0	get 0.0000% / 8h	7h 27m	$500K	$210K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$6.72
Price spread: −0.022% → 0.000%: −$2.17
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$18.89
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Lighter: no order-book sample; OKX: live order book, 43 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 OKX live order book, 43 min ago	5.44 bp	16.2 bp −$16	1141.0 bp −$11.4K	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	138.64	+0.124%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAPshort	0.0000%	8h	138.44	−0.022%	$500K	$210K	20x
QFEX NOW-USD	0.0000%	1h	138.30	−0.123%	$1.1M	$2.1M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	138.25	−0.159%	$246K	$377K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	138.42	−0.036%	$771K	$243K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	138.60	+0.094%	$815	$427K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.55	+0.058%	$5K	$28K	20x	as long as short
Binance NOWUSDT	+0.0009%	8h	138.45	−0.014%	$1.8M	$1.5M	20x	as long as short
BloFin NOW-USDT	+0.0017%	8h	138.58	+0.079%	$46K	$17K	20x	as long as short
Lighter NOWlong	+0.0032%	1h	138.47	long leg	$5K	$173	5x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+0.960%	$3K	$101	12x	as long as short
Bybit NOWUSDT	+0.0043%	8h	138.36	−0.079%	$1.5M	$5.7M	25x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	138.28	−0.137%	—	—	25x	as long as short
KuCoin NOWUSDTM	+0.0100%	8h	138.28	−0.137%	$317K	$663K	20x	as long as short
tradeXYZ xyz:NOW	+0.0217%	1h	138.35	−0.087%	$2.1M	$232K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0648%	8h	138.51	+0.027%	$256	$163K	10x	as long as short