gerade
right now
As an adverb: expresses that something is happening at exactly this moment; right now.
Kann ich dich später zurückrufen? Ich esse gerade.
Can I call you back later? I'm eating right now.

right now / straight
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right now
As an adverb: expresses that something is happening at exactly this moment; right now.
Kann ich dich später zurückrufen? Ich esse gerade.
Can I call you back later? I'm eating right now.

The function of 'gerade' depends on the context. When it describes a noun, it is an adjective, e.g. 'eine gerade Linie' (a straight line). When it describes an action or situation, it is an adverb with various meanings, e.g. 'ich lerne gerade' (I am studying right now).
Der Zaun steht nicht ganz gerade.
The fence is not standing completely straight.
In the meaning 'jetzt in diesem Moment' (right now at this moment), 'gerade' is a temporal adverb. In a main clause, it normally comes directly after the conjugated verb and the subject.
Sie telefoniert gerade mit ihrer Mutter.
She is talking on the phone with her mother right now.
When 'gerade' means 'linear' or 'nicht gebogen' (not bent), it is used like a normal adjective. It is declined when it comes before a noun and remains unchanged when used with verbs like 'sein' (to be).
Er hat einen sehr geraden Rücken.
He has a very straight back.
The meaning 'ausgerechnet' (of all times / of all things) often becomes clear through a tone of surprise, annoyance, or irony. In a sentence, it frequently appears in questions or emotional statements.
Warum musst du gerade jetzt stören?
Why do you have to interrupt right now of all times?
The meaning 'durch zwei teilbar' (divisible by two) is limited exclusively to the context of numbers and mathematics. The opposite is 'ungerade' (odd).
Alle Zahlen, die auf 0, 2, 4, 6 oder 8 enden, sind gerade Zahlen.
All numbers that end in 0, 2, 4, 6, or 8 are even numbers.
The meaning 'knapp' (barely) or 'im letzten Moment' (at the last moment) is almost always expressed through the fixed combinations 'gerade noch' (just barely / just in time) or 'gerade so' (just about / just barely).
Puh, wir haben es gerade noch geschafft!
Phew, we just barely made it!
now
'jetzt' and 'gerade' can both mean that something is happening at the present moment. 'gerade' puts stronger emphasis on the fact that an action is happening right now. It fits especially well with activities that are currently in progress. 'jetzt' is more general: it can simply refer to the present time or say that something begins from this moment on. Learners confuse the words because both often have to do with 'in this moment'. Remember: 'gerade' often shows an ongoing action, while 'jetzt' names the time more generally.

Die Fahrerin spricht gerade mit einem Fahrgast im Bus.
The driver is talking to a passenger on the bus right now.
Zum Üben lese ich jetzt den Text noch einmal.
For practice, I'm reading the text again now.