Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0036%/8h= +3.9% APRpaid last 24h +0.007%

Price spread now: Lighter against BloFin−0.080%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Lighter

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

Funding pays, the price is against you. Lighter is 0.080% cheaper against BloFin than usual: you would sell low and buy high (spread −0.080% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 7.5 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	BloFin NOW-USDT	137.90	−0.0004	get 0.0004% / 8h	36m 19s	$45K	$17K	20x
Short	Lighter NOW	137.79	0.0032	get 0.0004% / 1h	36m 19s	$5K	$173	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now −0.080%Rate

Funding earned: $7.47
Price spread: −0.080% → 0.000%: −$7.98
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$12.51
Costs to cover: 0.120%
Break-even: 18.7 days

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

BloFin and 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
BloFin NOW-USDTlong	−0.0004%	8h	137.90	long leg	$45K	$17K	20x
QFEX NOW-USD	0.0000%	1h	137.72	−0.131%	$1.1M	$2.1M	10x	as long as short
Aster NOWUSDT	0.0000%	8h	137.84	−0.045%	$41K	$995	20x	as long as short
Binance NOWUSDT	0.0000%	8h	137.88	−0.018%	$1.6M	$1.3M	20x	as long as short
Bybit NOWUSDT	0.0000%	8h	137.85	−0.036%	$1.5M	$5.7M	25x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.87	−0.022%	$484K	$196K	20x	as long as short
Gate NOW_USDT	0.0000%	8h	137.83	−0.051%	$251K	$396K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.84	−0.044%	$762K	$274K	20x	as long as short
GRVT NOW_USDT_Perp	0.0000%	8h	137.89	−0.007%	$415	$168K	10x	as long as short
SunX NOW-USDT	0.0000%	8h	137.87	−0.022%	$794	$436K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NOW-USDT	0.0000%	8h	137.88	−0.015%	$5K	$27K	20x	as long as short
Lighter NOWshort	+0.0032%	1h	137.79	−0.080%	$5K	$173	5x
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.378%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.75	−0.109%	—	—	25x	as long as short
KuCoin NOWUSDTM	+0.0100%	8h	137.61	−0.210%	$318K	$703K	20x	as long as short
tradeXYZ xyz:NOW	+0.0293%	1h	137.78	−0.087%	$2.1M	$201K	10x	as long as short