Funding arb · Price arb /

NAS100

RWAall NAS100 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0340%/8h= −37.2% APRpaid last 24h −0.594%

Price spread now: Phemex against Kraken Futures−0.148%7-day average −0.215% · you buy dearer than you sell

Net, funding: paid 7d − costs−$362as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$870.871% of the position

Long on Kraken Futures Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−2.745%−$275 on $10k

Price spread, last 4 days (all we have)+0.856%+$86 · spread now −0.148%, 7d avg −0.215%

Together, before fees−1.889%−$189 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.067% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.148% now, against its 7-day average of −0.215%): +$7 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 7 days (−2.745% in total) that is about 4 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_US100USD	30,439.8	0.0340	pay 0.0042% / 1h	37m 26s	$141K	$128K	20x
Short	Phemex NAS100USDT	30,394.7	0	get 0.0000% / 4h	3h 37m	$1.4M	$190K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Kraken Futures. 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 Kraken FuturesbpFee PhemexbpOrdersPrice spread, now −0.148%Rate

Funding earned: −$71.35
Price spread: −0.148% → −0.215%: $6.65
Slippage, 4 orders: −$65.13
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$151.83
Costs to cover: 0.871%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 60 min ago; Phemex: live order book, just now.

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 Kraken Futures live order book, 60 min ago	15.24 bp	23.1 bp −$23	55.2 bp −$552	doesn't fit	doesn't fit
Sell Phemex live order book, just now	3.66 bp	16.5 bp −$16	doesn't fit	doesn't fit	doesn't fit

NAS100 on 15 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
Orderly PERP_NAS100_USDC	−0.0282%	8h	30,405.1	−0.114%	$100K	$39K	20x	as long as short
Gate NAS100_USDT	−0.0200%	8h	30,393.5	−0.152%	$1.9M	$3.2M	100x	as long as short
MEXC NAS100_USDT	−0.0061%	8h	30,413	−0.088%	$22.8M	$21.6M	200x	as long as short
OKX US100-USDT-SWAP	0.0000%	8h	30,387	−0.174%	$265K	$388K	20x	as long as short
Bitget NDX100USDT	0.0000%	8h	30,435	−0.016%	$3.5M	$572K	50x	as long as short
Bullet US100-USD	0.0000%	1h	30,412	−0.091%	$4K	$91K	10x	as long as short
Phemex NAS100USDTshort	0.0000%	4h	30,394.7	−0.148%	$1.4M	$190K	10x
QFEX US100-USD	+0.0001%	1h	30,414	−0.085%	$1.2M	$1.5M	30x	as long as short
Lighter US100	+0.0032%	1h	30,410	−0.098%	$3.9M	$94.8M	30x	as long as short
Extended TECH100m-USD	+0.0032%	1h	30,415.2	−0.081%	$1.9M	$5.2M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NDX-USD-PERP	+0.0046%	1h	30,706.8	+0.877%	—	$205.8M	50x	as long as short
Paradex US100-USD-PERP	+0.0050%	8h	30,410.7	−0.096%	—	—	5x	as long as short
Polymarket Perps NAS100-USD	+0.0050%	1h	30,413	−0.088%	$7.2M	$1.9M	50x	as long as short
Ondo Perps US100-USD.P	+0.0050%	1h	30,414	−0.085%	$6.0M	$9.3M	25x	as long as short
Kraken Futures PF_US100USDlong	+0.0340%	1h	30,439.8	long leg	$141K	$128K	20x