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: HTX against Lighter+0.160%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 HTX

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. HTX is 0.160% dearer against Lighter than usual: you sell high and buy low (spread +0.160% now, against zero (this spread has no 7-day history yet)): +$16 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 17 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NOW	137.80	0.0032	pay 0.0004% / 1h	25m 33s	$5K	$178	5x
Short	HTX NOW-USDT	138.02	0	get 0.0000% / 8h	5h 25m	$5K	$31K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.160%Rate

Funding earned: −$6.72
Price spread: +0.160% → 0.000%: $15.97
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$2.75
Costs to cover: 0.120%
Break-even: from the start

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

Lighter and HTX: 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	138.68	+0.636%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.78	−0.015%	$488K	$228K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.65	−0.109%	$1.1M	$1.9M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	137.87	+0.051%	$248K	$370K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.84	+0.029%	$780K	$234K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	137.94	+0.102%	$833	$386K	10x	as long as short
HTX NOW-USDTshort	0.0000%	8h	138.02	+0.160%	$5K	$31K	20x
Lighter NOWlong	+0.0032%	1h	137.80	long leg	$5K	$178	5x
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.451%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.64	−0.116%	—	—	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	137.67	−0.094%	$316K	$644K	20x	as long as short
Bybit NOWUSDT	+0.0201%	8h	137.85	+0.036%	$1.6M	$4.9M	25x	as long as short
Binance NOWUSDT	+0.0211%	8h	137.86	+0.044%	$1.8M	$1.4M	20x	as long as short
BloFin NOW-USDT	+0.0213%	8h	137.90	+0.073%	$46K	$17K	20x	as long as short
tradeXYZ xyz:NOW	+0.0403%	1h	137.71	−0.065%	$2.1M	$229K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0583%	8h	137.92	+0.087%	$177	$151K	10x	as long as short