Funding arb · Price arb /

NAS100

RWAall NAS100 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0077%/8h= +8.4% APRpaid last 24h +0.028%

Price spread now: Ondo Perps against Phemex+0.065%7-day average +0.201% · you sell dearer than you buy

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

Long on Phemex Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

Price spread, last 4 days (all we have)+0.109%+$11 · spread now +0.065%, 7d avg +0.201%

Together, before fees+0.227%+ Points / potential airdropOndo Perps: Active · farm board+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.136% cheaper against Phemex than usual: you would sell low and buy high (spread +0.065% now, against its 7-day average of +0.201%). If the spread goes back, that is −$14 on $10k: about 5.9 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NAS100USDT	30,517.7	0	get 0.0000% / 4h	1h 04m	$1.4M	$194K	10x
Short	Ondo Perps US100-USD.P	30,537.4	0.0077	get 0.0010% / 1h	4m 41s	$6.0M	$10.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now +0.065%Rate

Funding earned: $16.13
Price spread: +0.065% → +0.201%: −$13.62
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$14.49
Costs to cover: 0.170%
Break-even: 13.3 days

Slippage unknown: Phemex: live order book, 1 min ago; Ondo Perps: no order-book sample. 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 Phemex live order book, 1 min ago	6.06 bp	21.7 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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.

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	−0.0281%	8h	30,514.2	−0.012%	$100K	$36K	20x	as long as short
Kraken Futures PF_US100USD	−0.0233%	1h	30,509.1	−0.028%	$140K	$69K	20x	as long as short
Gate NAS100_USDT	−0.0200%	8h	30,528.9	+0.037%	$1.8M	$2.6M	100x	as long as short
MEXC NAS100_USDT	−0.0063%	8h	30,533	+0.050%	$21.8M	$22.0M	200x	as long as short
OKX US100-USDT-SWAP	0.0000%	8h	30,489	−0.094%	$266K	$425K	20x	as long as short
Bitget NDX100USDT	0.0000%	8h	30,548	+0.099%	$3.6M	$521K	50x	as long as short
Bullet US100-USD	0.0000%	1h	30,531.1	+0.044%	$2K	$89K	10x	as long as short
Phemex NAS100USDTlong	0.0000%	4h	30,517.7	long leg	$1.4M	$194K	10x
QFEX US100-USD	+0.0003%	1h	30,538	+0.066%	$1.4M	$1.6M	30x	as long as short
Lighter US100	+0.0032%	1h	30,524	+0.021%	$2.8M	$101.4M	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	30,524.8	+0.023%	$2.0M	$5.6M	20x	as long as short
Vest NDX-USD-PERP	+0.0046%	1h	30,820.8	+0.993%	—	$208.8M	50x	as long as short
Paradex US100-USD-PERP	+0.0050%	8h	30,522.9	+0.017%	—	—	5x	as long as short
Polymarket Perps NAS100-USD	+0.0050%	1h	30,528	+0.034%	$7.2M	$1.9M	50x	as long as short
Ondo Perps US100-USD.Pshort	+0.0077%	1h	30,537.4	+0.065%	$6.0M	$10.3M	25x