Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.020%

Price spread now: Lighter against KuCoin+0.073%7-day average — · you sell dearer than you buy

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

Long on KuCoin 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 pays, funding is against you. Lighter is 0.073% dearer against KuCoin than usual: you sell high and buy low (spread +0.073% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NOWUSDTM	137.81	0.0100	pay 0.0100% / 8h	4h 10m	$316K	$621K	20x
Short	Lighter NOW	137.91	0.0032	get 0.0004% / 1h	10m 39s	$5K	$178	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.073%Rate

Funding earned: −$14.28
Price spread: +0.073% → 0.000%: $7.26
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$19.02
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: 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 KuCoin live order book, 3 min ago	14.16 bp	286.7 bp −$287	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
QFEX NOW-USD	0.0000%	1h	137.77	−0.029%	$1.1M	$1.6M	10x	as long as short
Aster NOWUSDT	0.0000%	8h	138.34	+0.386%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.87	+0.044%	$491K	$227K	20x	as long as short
Gate NOW_USDT	0.0000%	8h	137.99	+0.131%	$248K	$352K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.95	+0.102%	$781K	$234K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	137.98	+0.123%	$1K	$385K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	137.91	+0.073%	$5K	$32K	20x	as long as short
Lighter NOWshort	+0.0032%	1h	137.91	+0.073%	$5K	$178	5x
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.444%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.79	−0.015%	—	—	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOWUSDTMlong	+0.0100%	8h	137.81	long leg	$316K	$621K	20x
BloFin NOW-USDT	+0.0155%	8h	138.03	+0.160%	$46K	$17K	20x	as long as short
Binance NOWUSDT	+0.0173%	8h	138.00	+0.138%	$1.8M	$1.4M	20x	as long as short
Bybit NOWUSDT	+0.0211%	8h	137.98	+0.123%	$1.6M	$3.7M	25x	as long as short
tradeXYZ xyz:NOW	+0.0300%	1h	137.89	+0.058%	$2.1M	$226K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0393%	8h	138.01	+0.145%	$522	$149K	10x	as long as short