Funding arb · Price arb /

NAS100

RWAall NAS100 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter against Phemex+0.048%7-day average +0.165% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$370.372% of the position

Long on Phemex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.192%−$19 on $10k

Price spread, last 4 days (all we have)−0.137%−$14 · spread now +0.048%, 7d avg +0.165%

Together, before fees−0.329%+ Points / potential airdropLighter: Season 3 · farm board−$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.117% cheaper against Phemex than usual: you would sell low and buy high (spread +0.048% now, against its 7-day average of +0.165%). If the spread goes back, that is −$12 on $10k: about 12 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.192%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NAS100USDT	30,545.2	0	get 0.0000% / 4h	1h 25m	$1.4M	$175K	10x
Short	Lighter US100	30,560	0.0032	get 0.0004% / 1h	25m 04s	$3.9M	$95.4M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Phemex. 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 PhemexbpFee LighterbpOrdersPrice spread, now +0.048%Rate

Funding earned: $6.72
Price spread: +0.048% → +0.165%: −$11.67
Slippage, 4 orders: −$25.18
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$42.13
Costs to cover: 0.372%
Break-even: 50.9 days

Slippage from Phemex: live order book, 3 min ago; Lighter: live order book, 4 min ago.

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 Phemex live order book, 3 min ago	3.08 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	0.16 bp	0.2 bp $0	0.3 bp −$3	4.1 bp −$411	215.2 bp −$107.6K

NAS100 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
Orderly PERP_NAS100_USDC	−0.0212%	8h	30,553.7	+0.028%	$102K	$38K	20x	as long as short
Gate NAS100_USDT	−0.0200%	8h	30,548.1	+0.009%	$1.9M	$3.7M	100x	as long as short
MEXC NAS100_USDT	−0.0090%	8h	30,566	+0.068%	$24.2M	$19.5M	200x	as long as short
OKX US100-USDT-SWAP	0.0000%	8h	30,549	+0.012%	$263K	$379K	20x	as long as short
Bitget NDX100USDT	0.0000%	8h	30,548	+0.009%	$3.5M	$621K	50x	as long as short
Bullet US100-USD	0.0000%	1h	30,566.4	+0.069%	$3K	$89K	10x	as long as short
Phemex NAS100USDTlong	0.0000%	4h	30,545.2	long leg	$1.4M	$175K	10x
QFEX US100-USD	+0.0004%	1h	30,562	+0.055%	$1.4M	$1.1M	30x	as long as short
Lighter US100short	+0.0032%	1h	30,560	+0.048%	$3.9M	$95.4M	30x
Extended TECH100m-USD	+0.0032%	1h	30,566.5	+0.070%	$2.2M	$5.3M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NDX-USD-PERP	+0.0046%	1h	30,858.5	+1.026%	—	$194.3M	50x	as long as short
Paradex US100-USD-PERP	+0.0050%	8h	30,561.9	+0.054%	—	—	5x	as long as short
Polymarket Perps NAS100-USD	+0.0050%	1h	30,566	+0.068%	$7.2M	$1.9M	50x	as long as short
Ondo Perps US100-USD.P	+0.0130%	1h	30,576.2	+0.101%	$6.0M	$8.5M	25x	as long as short
Kraken Futures PF_US100USD	+0.2811%	1h	30,644.2	+0.324%	$131K	$127K	20x	as long as short