Funding arb · Price arb /

NAS100

RWAall NAS100 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0200%/8h= −21.9% APRpaid last 24h −0.049%

Price spread now: Gate against Phemex+0.044%7-day average +0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$840.842% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.170%−$17 on $10k

Price spread, last 3 days (all we have)−0.042%−$4 · spread now +0.044%, 7d avg +0.071%

Together, before fees−0.212%−$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Gate is 0.027% cheaper against Phemex than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.071%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NAS100USDT	30,496.3	0	get 0.0000% / 4h	3h 53m	$1.4M	$174K	10x
Short	Gate NAS100_USDT	30,509.7	−0.0200	pay 0.0200% / 8h	7h 53m	$1.8M	$3.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Phemex. 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 PhemexbpFee GatebpOrdersPrice spread, now +0.044%Rate

Funding earned: −$42
Price spread: +0.044% → +0.071%: −$2.67
Slippage, 4 orders: −$57.16
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$128.83
Costs to cover: 0.842%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Gate: live order book, 5 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 Phemex live order book, 5 min ago	1.54 bp	30.5 bp −$30	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	8.03 bp	15.5 bp −$16	37.4 bp −$374	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	−0.0216%	8h	30,554	+0.189%	$102K	$38K	20x	as long as short
Gate NAS100_USDTshort	−0.0200%	8h	30,509.7	+0.044%	$1.8M	$3.6M	100x
MEXC NAS100_USDT	−0.0105%	8h	30,566	+0.229%	$22.6M	$19.3M	200x	as long as short
OKX US100-USDT-SWAP	0.0000%	8h	30,525	+0.094%	$261K	$358K	20x	as long as short
Bitget NDX100USDT	0.0000%	8h	30,537	+0.134%	$3.5M	$669K	50x	as long as short
Bullet US100-USD	0.0000%	1h	30,566.1	+0.229%	$3K	$90K	10x	as long as short
Phemex NAS100USDTlong	0.0000%	4h	30,496.3	long leg	$1.4M	$174K	10x
QFEX US100-USD	+0.0002%	1h	30,566	+0.229%	$1.4M	$975K	30x	as long as short
Lighter US100	+0.0032%	1h	30,560	+0.209%	$3.8M	$92.2M	30x	as long as short
Extended TECH100m-USD	+0.0032%	1h	30,566	+0.229%	$2.1M	$5.5M	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	30,849.8	+1.159%	—	$194.1M	50x	as long as short
Paradex US100-USD-PERP	+0.0050%	8h	30,556.9	+0.199%	—	—	5x	as long as short
Polymarket Perps NAS100-USD	+0.0050%	1h	30,564	+0.222%	$7.2M	$1.9M	50x	as long as short
Ondo Perps US100-USD.P	+0.0192%	1h	30,584	+0.288%	$6.0M	$8.8M	25x	as long as short
Kraken Futures PF_US100USD	+0.2935%	1h	30,621.1	+0.409%	$124K	$122K	20x	as long as short