Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: SunX against Lighter+0.014%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 SunX

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NOW	138.51	0.0032	pay 0.0004% / 1h	28m 11s	$5K	$171	5x
Short	SunX NOW-USDT	138.53	0	get 0.0000% / 8h	2h 28m	$813	$367K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$6.72
Price spread: +0.014% → 0.000%: $1.44
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$13.28
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Lighter: no order-book sample; SunX: 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 SunX live order book, 43 min ago	45.94 bp	65.0 bp −$65	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 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	138.51	0.000%	$494K	$230K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	138.46	−0.036%	$1.1M	$1.4M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	138.41	−0.072%	$252K	$348K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	138.54	+0.022%	$768K	$254K	20x	as long as short
SunX NOW-USDTshort	0.0000%	8h	138.53	+0.014%	$813	$367K	10x
HTX NOW-USDT	0.0000%	8h	138.62	+0.079%	$5K	$35K	20x	as long as short
Lighter NOWlong	+0.0032%	1h	138.51	long leg	$5K	$171	5x
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+0.931%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	138.51	0.000%	—	—	25x	as long as short
Aster NOWUSDT	+0.0046%	8h	139.05	+0.390%	$41K	$995	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	138.40	−0.079%	$318K	$631K	20x	as long as short
Binance NOWUSDT	+0.0222%	8h	138.62	+0.079%	$1.8M	$1.4M	20x	as long as short
BloFin NOW-USDT	+0.0236%	8h	138.40	−0.079%	$46K	$18K	20x	as long as short
Bybit NOWUSDT	+0.0242%	8h	138.56	+0.036%	$1.6M	$2.0M	25x	as long as short
tradeXYZ xyz:NOW	+0.0262%	1h	138.51	0.000%	$2.1M	$227K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0353%	8h	138.47	−0.029%	$638	$145K	10x	as long as short