Funding arb · Price arb /

NOW

RWAall NOW 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 HTX−0.159%7-day average — · you buy dearer than you sell

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

Long on HTX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Lighter is 0.159% cheaper against HTX than usual: you would sell low and buy high (spread −0.159% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 17 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	HTX NOW-USDT	138.13	0	get 0.0000% / 8h	5h 02m	$5K	$31K	20x
Short	Lighter NOW	137.91	0.0032	get 0.0004% / 1h	2m 01s	$5K	$178	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against HTX. 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 HTXbpFee LighterbpOrdersPrice spread, now −0.159%Rate

Funding earned: $6.72
Price spread: −0.159% → 0.000%: −$15.93
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$21.21
Costs to cover: 0.120%
Break-even: 29.1 days

Slippage unknown: HTX: no order-book sample; 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 HTX no order-book sample	—	—	—	—	—
Sell Lighter no order-book sample	—	—	—	—	—

HTX and 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	138.69	+0.408%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	138.04	−0.065%	$492K	$232K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.87	−0.188%	$1.1M	$1.8M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	137.99	−0.101%	$248K	$372K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.96	−0.123%	$781K	$234K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	137.99	−0.101%	$552	$386K	10x	as long as short
HTX NOW-USDTlong	0.0000%	8h	138.13	long leg	$5K	$31K	20x
Lighter NOWshort	+0.0032%	1h	137.91	−0.159%	$5K	$178	5x
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.209%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.88	−0.181%	—	—	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	137.79	−0.246%	$318K	$628K	20x	as long as short
Bybit NOWUSDT	+0.0164%	8h	137.94	−0.138%	$1.6M	$4.8M	25x	as long as short
BloFin NOW-USDT	+0.0188%	8h	137.98	−0.109%	$229	$17K	20x	as long as short
Binance NOWUSDT	+0.0201%	8h	138.02	−0.081%	$1.8M	$1.4M	20x	as long as short
tradeXYZ xyz:NOW	+0.0337%	1h	137.87	−0.188%	$2.1M	$229K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0514%	8h	137.98	−0.112%	$717	$150K	10x	as long as short