Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.020%

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

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

Long on Lighter Short on KuCoin

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. KuCoin is 0.073% cheaper against Lighter than usual: you would sell low and buy high (spread −0.073% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 3.6 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NOW	137.93	0.0032	pay 0.0004% / 1h	37m 45s	$5K	$173	5x
Short	KuCoin NOWUSDTM	137.83	0.0100	get 0.0100% / 8h	6h 37m	$316K	$651K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Lighter. 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 LighterbpFee KuCoinbpOrdersPrice spread, now −0.073%Rate

Funding earned: $14.28
Price spread: −0.073% → 0.000%: −$7.25
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$4.97
Costs to cover: 0.120%
Break-even: 9.4 days

Slippage unknown: Lighter: no order-book sample; KuCoin: live order book, 76 min ago. 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 Lighter no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 76 min ago	11.63 bp	82.4 bp −$82	doesn't fit	doesn't fit	doesn't fit

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	138.37	+0.316%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	138.08	+0.109%	$486K	$225K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.84	−0.065%	$1.1M	$2.0M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	137.96	+0.022%	$245K	$370K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.97	+0.029%	$781K	$234K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	138.02	+0.065%	$1K	$406K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	137.88	−0.036%	$5K	$29K	20x	as long as short
Lighter NOWlong	+0.0032%	1h	137.93	long leg	$5K	$173	5x
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.356%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.87	−0.044%	—	—	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NOWUSDT	+0.0093%	8h	137.96	+0.022%	$1.5M	$5.7M	25x	as long as short
Binance NOWUSDT	+0.0097%	8h	138.03	+0.072%	$1.8M	$1.5M	20x	as long as short
KuCoin NOWUSDTMshort	+0.0100%	8h	137.83	−0.073%	$316K	$651K	20x
BloFin NOW-USDT	+0.0110%	8h	138.12	+0.138%	$46K	$17K	20x	as long as short
tradeXYZ xyz:NOW	+0.0321%	1h	137.90	−0.022%	$2.1M	$229K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0554%	8h	138.07	+0.102%	$587	$155K	10x	as long as short