Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: OKX against Lighter+0.022%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on OKX

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. OKX is 0.022% dearer against Lighter than usual: you sell high and buy low (spread +0.022% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NOW	137.84	0.0032	pay 0.0004% / 1h	13m 36s	$5K	$173	5x
Short	OKX NOW-USDT-SWAP	137.87	0	get 0.0000% / 8h	13m 36s	$484K	$196K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$6.72
Price spread: +0.022% → 0.000%: $2.18
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$14.54
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Lighter: no order-book sample; OKX: live order book, 62 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 OKX live order book, 62 min ago	11.25 bp	18.1 bp −$18	1163.7 bp −$11.6K	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
QFEX NOW-USD	0.0000%	1h	137.77	−0.051%	$1.1M	$2.1M	10x	as long as short
Aster NOWUSDT	0.0000%	8h	137.92	+0.061%	$41K	$995	20x	as long as short
Binance NOWUSDT	0.0000%	8h	137.89	+0.036%	$1.6M	$1.3M	20x	as long as short
Bybit NOWUSDT	0.0000%	8h	137.83	−0.007%	$1.5M	$5.7M	25x	as long as short
OKX NOW-USDT-SWAPshort	0.0000%	8h	137.87	+0.022%	$484K	$196K	20x
Gate NOW_USDT	0.0000%	8h	137.83	−0.007%	$251K	$397K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.90	+0.044%	$762K	$254K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	137.91	+0.051%	$866	$435K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	137.92	+0.058%	$5K	$28K	20x	as long as short
GRVT NOW_USDT_Perp	+0.0014%	8h	137.92	+0.058%	$404	$167K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin NOW-USDT	+0.0016%	8h	137.89	+0.036%	$45K	$17K	20x	as long as short
Lighter NOWlong	+0.0032%	1h	137.84	long leg	$5K	$173	5x
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.422%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.78	−0.044%	—	—	25x	as long as short
KuCoin NOWUSDTM	+0.0100%	8h	137.67	−0.123%	$319K	$680K	20x	as long as short
tradeXYZ xyz:NOW	+0.0306%	1h	137.80	−0.029%	$2.1M	$201K	10x	as long as short