Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter against Bybit0.000%7-day average — · you sell dearer than you buy

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

Long on Bybit 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NOWUSDT	138.39	0	get 0.0000% / 8h	7h 25m	$1.5M	$5.7M	25x
Short	Lighter NOW	138.39	0.0032	get 0.0004% / 1h	25m 09s	$5K	$173	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now 0.000%Rate

Funding earned: $6.72
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$4.28
Costs to cover: 0.110%
Break-even: 11.5 days

Slippage unknown: Bybit: live order book, 3 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 Bybit live order book, 3 min ago	2.89 bp	32.3 bp −$32	143.6 bp −$1,436	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
Aster NOWUSDT	0.0000%	8h	138.68	+0.209%	$41K	$995	20x	as long as short
Bybit NOWUSDTlong	0.0000%	8h	138.39	long leg	$1.5M	$5.7M	25x
OKX NOW-USDT-SWAP	0.0000%	8h	138.44	+0.036%	$500K	$210K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	138.22	−0.123%	$1.1M	$2.1M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	138.39	0.000%	$246K	$378K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	138.37	−0.014%	$770K	$243K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	138.45	+0.043%	$829	$425K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.44	+0.036%	$5K	$29K	20x	as long as short
BloFin NOW-USDT	+0.0019%	8h	138.47	+0.058%	$45K	$17K	20x	as long as short
Binance NOWUSDT	+0.0025%	8h	138.46	+0.049%	$1.8M	$1.5M	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter NOWshort	+0.0032%	1h	138.39	0.000%	$5K	$173	5x
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.019%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	138.25	−0.101%	—	—	25x	as long as short
KuCoin NOWUSDTM	+0.0100%	8h	138.24	−0.108%	$319K	$663K	20x	as long as short
tradeXYZ xyz:NOW	+0.0221%	1h	138.26	−0.094%	$2.1M	$232K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0842%	8h	138.48	+0.065%	$256	$163K	10x	as long as short