Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter against SunX+0.245%7-day average — · you sell dearer than you buy

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

Long on SunX 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 for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.245% dearer against SunX than usual: you sell high and buy low: +$25 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NOW-USDT	138.53	0	get 0.0000% / 8h	2h 24m	$813	$361K	10x
Short	Lighter NOW	138.87	0.0032	get 0.0004% / 1h	24m 35s	$5K	$171	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now +0.245%Rate

Funding earned: $6.72
Price spread: +0.245% → 0.000%: $24.54
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $23.26
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 46 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 SunX live order book, 46 min ago	45.94 bp	64.3 bp −$64	doesn't fit	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
OKX NOW-USDT-SWAP	0.0000%	8h	138.83	+0.217%	$495K	$231K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	138.79	+0.188%	$1.1M	$1.4M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	138.74	+0.152%	$253K	$348K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	138.83	+0.217%	$769K	$254K	20x	as long as short
SunX NOW-USDTlong	0.0000%	8h	138.53	long leg	$813	$361K	10x
HTX NOW-USDT	0.0000%	8h	138.43	−0.072%	$5K	$35K	20x	as long as short
Lighter NOWshort	+0.0032%	1h	138.87	+0.245%	$5K	$171	5x
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+0.917%	$3K	$101	12x	as long as short
Aster NOWUSDT	+0.0042%	8h	139.15	+0.446%	$41K	$995	20x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	138.78	+0.180%	—	—	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	138.65	+0.087%	$319K	$630K	20x	as long as short
Binance NOWUSDT	+0.0214%	8h	138.92	+0.282%	$1.8M	$1.4M	20x	as long as short
BloFin NOW-USDT	+0.0238%	8h	138.57	+0.029%	$46K	$18K	20x	as long as short
Bybit NOWUSDT	+0.0239%	8h	138.87	+0.245%	$1.6M	$1.9M	25x	as long as short
tradeXYZ xyz:NOW	+0.0249%	1h	138.80	+0.195%	$2.1M	$227K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0344%	8h	138.49	−0.029%	$638	$145K	10x	as long as short