Funding arb · Price arb /

NOK

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: OKX against Lighter+0.275%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 OKX

What this pair did over the last

the charts below follow

Funding, last 7 days—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 pays, funding is against you. OKX is 0.275% dearer against Lighter than usual: you sell high and buy low (spread +0.275% now, against zero (this spread has no 7-day history yet)): +$27 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 29 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NOK	10.919	0.0032	pay 0.0004% / 1h	8m 59s	—	—	10x
Short	OKX NOK-USDT-SWAP	10.949	0	get 0.0000% / 8h	2h 08m	$1.2M	$1.3M	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 +0.275%Rate

Funding earned: −$6.72
Price spread: +0.275% → 0.000%: $27.48
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: $10.76
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Lighter: no order-book sample; OKX: live order book, 3 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, 3 min ago	2.29 bp	33.6 bp −$34	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.

NOK 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 NOKUSDT	0.0000%	8h	10.939	+0.187%	$67K	$7K	20x	as long as short
OKX NOK-USDT-SWAPshort	0.0000%	8h	10.949	+0.275%	$1.2M	$1.3M	20x
Bitget NOKSTOCKUSDT	0.0000%	8h	10.939	+0.183%	$1.5M	$595K	20x	as long as short
GRVT NOK_USDT_Perp	0.0000%	8h	10.934	+0.135%	$3K	$131K	10x	as long as short
SunX NOK-USDT	0.0000%	8h	10.940	+0.192%	$1K	$1.4M	10x	as long as short
HTX NOK-USDT	0.0000%	8h	10.970	+0.467%	$9K	$6K	10x	as long as short
Phemex NOKUSDT	0.0000%	8h	10.940	+0.192%	$1.6M	$586K	10x	as long as short
Variational Omni NOK	+0.0009%	8h	10.943	+0.221%	$131K	$117K	—	as long as short
Lighter NOKlong	+0.0032%	1h	10.919	long leg	—	—	10x
Vest NOK-PERP	+0.0046%	1h	10.920	+0.009%	—	—	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOKUSDTM	+0.0100%	8h	10.920	+0.009%	$298K	$430K	20x	as long as short
MEXC NOKSTOCK_USDT	+0.0151%	8h	10.920	+0.009%	$1.5M	$117K	50x	as long as short
Gate NOK_USDT	+0.0154%	8h	10.953	+0.311%	$954K	$1.0M	50x	as long as short
Extended NOK-USD	+0.0160%	1h	10.937	+0.164%	$38K	$160K	10x	as long as short
Binance NOKUSDT	+0.0160%	8h	10.940	+0.192%	$7.3M	$9.6M	20x	as long as short
tradeXYZ xyz:NOK	+0.0431%	1h	10.937	+0.165%	$4.3M	$1.2M	10x	as long as short