Funding arb · Price arb /

NOK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h —

Price spread now: Lighter against Variational Omni−0.037%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter

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 airdropVariational Omni: Active · Lighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Lighter is 0.037% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.037% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 3.8 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NOK	11.043	0	get 0.0000% / 8h	6h 57m	$137K	$121K	—
Short	Lighter NOK	11.039	0.0032	get 0.0004% / 1h	57m 49s	—	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now −0.037%Rate

Funding earned: $6.72
Price spread: −0.037% → 0.000%: −$3.68
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $3.04
Costs to cover: 0.000%
Break-even: 3.8 days

Slippage unknown: Variational Omni: RFQ quote, 11 min ago; Lighter: no order-book sample. 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 Variational Omni RFQ quote, 11 min ago	11.85 bp	doesn't fit	100.5 bp −$1,005	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

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	11.049	+0.052%	$67K	$7K	20x	as long as short
Extended NOK-USD	0.0000%	1h	11.047	+0.036%	$37K	$171K	10x	as long as short
Binance NOKUSDT	0.0000%	8h	11.050	+0.060%	$7.6M	$8.8M	20x	as long as short
OKX NOK-USDT-SWAP	0.0000%	8h	11.047	+0.036%	$1.2M	$1.3M	20x	as long as short
Gate NOK_USDT	0.0000%	8h	11.055	+0.108%	$991K	$981K	50x	as long as short
MEXC NOKSTOCK_USDT	0.0000%	8h	11.040	−0.028%	$1.6M	$111K	50x	as long as short
Bitget NOKSTOCKUSDT	0.0000%	8h	11.064	+0.190%	$1.5M	$581K	20x	as long as short
Variational Omni NOKlong	0.0000%	8h	11.043	long leg	$137K	$121K	—
GRVT NOK_USDT_Perp	0.0000%	8h	11.047	+0.032%	$3K	$155K	10x	as long as short
SunX NOK-USDT	0.0000%	8h	11.040	−0.028%	$1K	$1.5M	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NOK-USDT	0.0000%	8h	11.060	+0.153%	$9K	$5K	10x	as long as short
Phemex NOKUSDT	0.0000%	8h	11.050	+0.063%	$1.6M	$532K	10x	as long as short
Lighter NOKshort	+0.0032%	1h	11.039	−0.037%	—	—	10x
Vest NOK-PERP	+0.0046%	1h	11.040	−0.028%	—	—	10x	as long as short
tradeXYZ xyz:NOK	+0.0070%	1h	11.046	+0.027%	$4.2M	$1.1M	10x	as long as short
KuCoin NOKUSDTM	+0.0100%	8h	11.050	+0.063%	$301K	$315K	20x	as long as short