Funding arb · Price arb /

NAS100

RWAall NAS100 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0200%/8h= +21.9% APRpaid last 24h +0.049%

Price spread now: Phemex against Gate+0.020%7-day average −0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$780.785% of the position

Long on Gate Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.190%+$19 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now +0.020%, 7d avg −0.065%

Together, before fees+0.182%+$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phemex is 0.084% dearer against Gate than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NAS100_USDT	30,509	−0.0200	get 0.0200% / 8h	5h 52m	$1.8M	$2.6M	100x
Short	Phemex NAS100USDT	30,515	0	get 0.0000% / 4h	1h 52m	$1.4M	$194K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Gate. 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 GatebpFee PhemexbpOrdersPrice spread, now +0.020%Rate

Funding earned: $42
Price spread: +0.020% → −0.065%: $8.42
Slippage, 4 orders: −$51.49
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$28.07
Costs to cover: 0.785%
Break-even: 11.7 days

Slippage from Gate: live order book, 4 min ago; Phemex: live order book, 3 min ago.

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 Gate live order book, 4 min ago	2.93 bp	21.5 bp −$22	48.9 bp −$489	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	7.53 bp	21.0 bp −$21	doesn't fit	doesn't fit	doesn't fit

NAS100 on 15 exchanges

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
Orderly PERP_NAS100_USDC	−0.0280%	8h	30,526.4	+0.057%	$100K	$36K	20x	as long as short
Kraken Futures PF_US100USD	−0.0234%	1h	30,481	−0.092%	$140K	$69K	20x	as long as short
Gate NAS100_USDTlong	−0.0200%	8h	30,509	long leg	$1.8M	$2.6M	100x
MEXC NAS100_USDT	−0.0065%	8h	30,542	+0.108%	$21.5M	$21.7M	200x	as long as short
OKX US100-USDT-SWAP	0.0000%	8h	30,514	+0.016%	$267K	$427K	20x	as long as short
Bitget NDX100USDT	0.0000%	8h	30,551	+0.138%	$3.6M	$560K	50x	as long as short
Bullet US100-USD	0.0000%	1h	30,540.5	+0.103%	$2K	$88K	10x	as long as short
Phemex NAS100USDTshort	0.0000%	4h	30,515	+0.020%	$1.4M	$194K	10x
QFEX US100-USD	+0.0003%	1h	30,536	+0.088%	$1.4M	$1.6M	30x	as long as short
Lighter US100	+0.0032%	1h	30,531	+0.072%	$3.4M	$98.6M	30x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended TECH100m-USD	+0.0032%	1h	30,531.4	+0.074%	$2.1M	$5.6M	20x	as long as short
Vest NDX-USD-PERP	+0.0046%	1h	30,828.1	+1.046%	—	$209.1M	50x	as long as short
Paradex US100-USD-PERP	+0.0050%	8h	30,529.7	+0.068%	—	—	5x	as long as short
Polymarket Perps NAS100-USD	+0.0050%	1h	30,536	+0.088%	$7.2M	$1.9M	50x	as long as short
Ondo Perps US100-USD.P	+0.0054%	1h	30,546.6	+0.123%	$6.0M	$10.3M	25x	as long as short