Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.020%

Price spread now: KuCoin against Lighter−0.109%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on KuCoin

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

Funding pays, the price is against you. KuCoin is 0.109% cheaper against Lighter than usual: you would sell low and buy high (spread −0.109% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 5.3 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NOW	137.98	0.0032	pay 0.0004% / 1h	38m 54s	$5K	$184	5x
Short	KuCoin NOWUSDTM	137.83	0.0100	get 0.0100% / 8h	3h 38m	$317K	$637K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.109%Rate

Funding earned: $14.28
Price spread: −0.109% → 0.000%: −$10.87
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$8.59
Costs to cover: 0.120%
Break-even: 11.2 days

Slippage unknown: Lighter: no order-book sample; KuCoin: live order book, 35 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 KuCoin live order book, 35 min ago	14.16 bp	76.9 bp −$77	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	138.82	+0.609%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.92	−0.043%	$491K	$226K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.84	−0.101%	$1.1M	$1.5M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	137.98	0.000%	$248K	$352K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.97	−0.007%	$787K	$240K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	138.07	+0.065%	$1K	$379K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.07	+0.065%	$5K	$33K	20x	as long as short
Lighter NOWlong	+0.0032%	1h	137.98	long leg	$5K	$184	5x
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.319%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.85	−0.094%	—	—	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOWUSDTMshort	+0.0100%	8h	137.83	−0.109%	$317K	$637K	20x
BloFin NOW-USDT	+0.0201%	8h	138.05	+0.051%	$46K	$17K	20x	as long as short
Binance NOWUSDT	+0.0213%	8h	138.05	+0.051%	$1.8M	$1.4M	20x	as long as short
Bybit NOWUSDT	+0.0216%	8h	137.99	+0.007%	$1.6M	$3.1M	25x	as long as short
tradeXYZ xyz:NOW	+0.0338%	1h	137.91	−0.051%	$2.1M	$224K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0430%	8h	138.05	+0.049%	$337	$147K	10x	as long as short