Funding arb · Price arb /

NOK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h —

Price spread now: Phemex against Lighter+0.327%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 Phemex

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. Phemex is 0.327% dearer against Lighter than usual: you sell high and buy low (spread +0.327% now, against zero (this spread has no 7-day history yet)): +$33 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 34 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NOK	10.705	0.0032	pay 0.0004% / 1h	34m 29s	—	—	10x
Short	Phemex NOKUSDT	10.740	0	get 0.0000% / 8h	7h 34m	$1.6M	$644K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.327%Rate

Funding earned: −$6.72
Price spread: +0.327% → 0.000%: $32.7
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: $13.98
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Lighter: no order-book sample; Phemex: live order book, 4 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 Phemex live order book, 4 min ago	18.66 bp	51.3 bp −$51	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
Bitget NOKSTOCKUSDT	−0.0419%	8h	10.781	+0.710%	$1.5M	$586K	20x	as long as short
Vest NOK-PERP	−0.0008%	1h	10.690	−0.140%	—	—	10x	as long as short
Aster NOKUSDT	0.0000%	8h	10.720	+0.140%	$65K	$7K	20x	as long as short
SunX NOK-USDT	0.0000%	8h	10.730	+0.234%	$1K	$1.2M	10x	as long as short
HTX NOK-USDT	0.0000%	8h	10.730	+0.234%	$9K	$6K	10x	as long as short
Phemex NOKUSDTshort	0.0000%	8h	10.740	+0.327%	$1.6M	$644K	10x
Lighter NOKlong	+0.0032%	1h	10.705	long leg	—	—	10x
OKX NOK-USDT-SWAP	+0.0081%	8h	10.735	+0.280%	$1.2M	$1.2M	20x	as long as short
KuCoin NOKUSDTM	+0.0100%	8h	10.720	+0.140%	$293K	$441K	20x	as long as short
GRVT NOK_USDT_Perp	+0.0119%	8h	10.720	+0.140%	$3K	$111K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NOK_USDT	+0.0278%	8h	10.743	+0.355%	$935K	$1.0M	50x	as long as short
tradeXYZ xyz:NOK	+0.0294%	1h	10.719	+0.131%	$4.4M	$1.4M	10x	as long as short
Variational Omni NOK	+0.0307%	8h	10.738	+0.310%	$129K	$118K	—	as long as short
Extended NOK-USD	+0.0576%	1h	10.733	+0.260%	$40K	$282K	10x	as long as short
MEXC NOKSTOCK_USDT	+0.0577%	8h	10.710	+0.047%	$1.5M	$118K	50x	as long as short
Binance NOKUSDT	+0.0585%	8h	10.730	+0.234%	$7.3M	$10.4M	20x	as long as short