Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0173%/8h= −19.0% APRpaid last 24h +0.010%

Price spread now: Lighter against Binance−0.057%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Lighter

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

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Lighter is 0.057% cheaper against Binance than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NOWUSDT	138.09	0.0205	pay 0.0205% / 8h	3h 43m	$1.8M	$1.4M	20x
Short	Lighter NOW	138.01	0.0032	get 0.0004% / 1h	43m 47s	$5K	$184	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now −0.057%Rate

Funding earned: −$36.41
Price spread: −0.057% → 0.000%: −$5.65
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$52.06
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 5 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 Binance live order book, 5 min ago	0.36 bp	11.0 bp −$11	45.0 bp −$450	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.

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
Aster NOWUSDT	0.0000%	8h	138.44	+0.254%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.92	−0.122%	$491K	$226K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.89	−0.143%	$1.1M	$1.5M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	138.05	−0.028%	$249K	$350K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	138.01	−0.057%	$781K	$235K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	138.13	+0.030%	$1K	$380K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.21	+0.088%	$5K	$33K	20x	as long as short
Lighter NOWshort	+0.0032%	1h	138.01	−0.057%	$5K	$184	5x
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.240%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.90	−0.136%	—	—	25x	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	137.86	−0.165%	$317K	$633K	20x	as long as short
BloFin NOW-USDT	+0.0203%	8h	138.14	+0.038%	$46K	$17K	20x	as long as short
Binance NOWUSDTlong	+0.0205%	8h	138.09	long leg	$1.8M	$1.4M	20x
Bybit NOWUSDT	+0.0210%	8h	138.05	−0.028%	$1.6M	$3.2M	25x	as long as short
tradeXYZ xyz:NOW	+0.0386%	1h	137.91	−0.129%	$2.1M	$224K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0418%	8h	138.12	+0.023%	$355	$147K	10x	as long as short