Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter against Bitget−0.050%7-day average — · you buy dearer than you sell

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

Long on Bitget 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

Funding pays, the price is against you. Lighter is 0.050% cheaper against Bitget than usual: you would sell low and buy high (spread −0.050% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 5.2 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	Bitget NOWUSDT	139.31	0	get 0.0000% / 8h	36m 03s	$769K	$263K	20x
Short	Lighter NOW	139.24	0.0032	get 0.0004% / 1h	36m 03s	$5K	$171	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now −0.050%Rate

Funding earned: $6.72
Price spread: −0.050% → 0.000%: −$5.02
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$10.3
Costs to cover: 0.120%
Break-even: 17.7 days

Slippage unknown: Bitget: live order book, 64 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 Bitget live order book, 64 min ago	5.03 bp	19.5 bp −$19	35.9 bp −$359	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	139.45	+0.100%	$507K	$252K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	139.14	−0.122%	$1.1M	$1.5M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	139.31	0.000%	$253K	$346K	20x	as long as short
Bitget NOWUSDTlong	0.0000%	8h	139.31	long leg	$769K	$263K	20x
SunX NOW-USDT	0.0000%	8h	139.37	+0.043%	$1K	$329K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	139.39	+0.057%	$5K	$36K	20x	as long as short
Lighter NOWshort	+0.0032%	1h	139.24	−0.050%	$5K	$171	5x
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+0.352%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	139.20	−0.079%	—	—	25x	as long as short
Aster NOWUSDT	+0.0070%	8h	140.18	+0.625%	$42K	$859	20x	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	139.36	+0.036%	$316K	$642K	20x	as long as short
BloFin NOW-USDT	+0.0142%	8h	139.45	+0.100%	$46K	$18K	20x	as long as short
Binance NOWUSDT	+0.0162%	8h	139.35	+0.029%	$1.8M	$1.5M	20x	as long as short
Bybit NOWUSDT	+0.0167%	8h	139.31	0.000%	$1.6M	$327K	25x	as long as short
GRVT NOW_USDT_Perp	+0.0274%	8h	139.40	+0.065%	$276	$140K	10x	as long as short
tradeXYZ xyz:NOW	+0.0387%	1h	139.27	−0.029%	$2.1M	$238K	10x	as long as short