Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: Gate against Lighter+0.022%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 Gate

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

The price spread pays, funding is against you. Gate is 0.022% dearer against Lighter than usual: you sell high and buy low (spread +0.022% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NOW	137.97	0.0032	pay 0.0004% / 1h	40m 02s	$5K	$173	5x
Short	Gate NOW_USDT	138.00	0	get 0.0000% / 8h	6h 40m	$245K	$370K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.022%Rate

Funding earned: −$6.72
Price spread: +0.022% → 0.000%: $2.17
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$19.55
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Lighter: no order-book sample; Gate: live order book, 25 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 Gate live order book, 25 min ago	12.65 bp	85.5 bp −$86	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.

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	+0.338%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	138.08	+0.080%	$486K	$225K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.87	−0.072%	$1.1M	$2.0M	10x	as long as short
Gate NOW_USDTshort	0.0000%	8h	138.00	+0.022%	$245K	$370K	20x
Bitget NOWUSDT	0.0000%	8h	137.98	+0.007%	$781K	$234K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	138.01	+0.029%	$1K	$407K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.07	+0.072%	$5K	$29K	20x	as long as short
Lighter NOWlong	+0.0032%	1h	137.97	long leg	$5K	$173	5x
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.326%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.89	−0.058%	—	—	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	137.80	−0.123%	$316K	$650K	20x	as long as short
Binance NOWUSDT	+0.0100%	8h	138.01	+0.029%	$1.8M	$1.5M	20x	as long as short
BloFin NOW-USDT	+0.0110%	8h	138.12	+0.109%	$46K	$17K	20x	as long as short
Bybit NOWUSDT	+0.0118%	8h	138.00	+0.022%	$1.5M	$5.7M	25x	as long as short
tradeXYZ xyz:NOW	+0.0325%	1h	137.92	−0.036%	$2.1M	$229K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0613%	8h	138.07	+0.070%	$587	$155K	10x	as long as short