Funding arb · Price arb /

NAS100

RWAall NAS100 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0002%/8h= +0.2% APRpaid last 24h +0.001%

Price spread now: QFEX against Phemex+0.275%7-day average +0.167% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$590.588% of the position

Long on Phemex Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.007%+$1 on $10k

Price spread, last 4 days (all we have)−0.154%−$15 · spread now +0.275%, 7d avg +0.167%

Together, before fees−0.147%−$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: QFEX is 0.108% dearer against Phemex than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.167%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NAS100USDT	30,446.3	0	get 0.0000% / 4h	2h 05m	$1.4M	$191K	10x
Short	QFEX US100-USD	30,530	0.0002	get 0.0000% / 1h	5m 54s	$1.3M	$1.3M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.275%Rate

Funding earned: $0.45
Price spread: +0.275% → +0.167%: $10.75
Slippage, 4 orders: −$36.78
Fee Phemex: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$47.57
Costs to cover: 0.588%
Break-even: 741.1 days

Slippage from Phemex: live order book, 2 min ago; QFEX: 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, 2 min ago	7.06 bp	22.7 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	0.65 bp	6.6 bp −$7	6.9 bp −$69	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	−0.0266%	8h	30,517.2	+0.233%	$102K	$38K	20x	as long as short
Gate NAS100_USDT	−0.0200%	8h	30,461.5	+0.050%	$1.9M	$3.6M	100x	as long as short
MEXC NAS100_USDT	−0.0068%	8h	30,527	+0.265%	$23.8M	$20.6M	200x	as long as short
OKX US100-USDT-SWAP	0.0000%	8h	30,463	+0.055%	$262K	$372K	20x	as long as short
Bitget NDX100USDT	0.0000%	8h	30,515	+0.226%	$3.5M	$636K	50x	as long as short
Bullet US100-USD	0.0000%	1h	30,529	+0.272%	$4K	$90K	10x	as long as short
Phemex NAS100USDTlong	0.0000%	4h	30,446.3	long leg	$1.4M	$191K	10x
QFEX US100-USDshort	+0.0002%	1h	30,530	+0.275%	$1.3M	$1.3M	30x
Lighter US100	+0.0032%	1h	30,522	+0.249%	$4.1M	$98.3M	30x	as long as short
Extended TECH100m-USD	+0.0032%	1h	30,526.4	+0.263%	$2.0M	$5.9M	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	30,819.8	+1.227%	—	$203.1M	50x	as long as short
Paradex US100-USD-PERP	+0.0050%	8h	30,522.9	+0.252%	—	—	5x	as long as short
Polymarket Perps NAS100-USD	+0.0050%	1h	30,528	+0.268%	$7.2M	$1.9M	50x	as long as short
Ondo Perps US100-USD.P	+0.0098%	1h	30,536.8	+0.297%	$6.1M	$8.6M	25x	as long as short
Kraken Futures PF_US100USD	+0.1694%	1h	30,510.4	+0.211%	$137K	$137K	20x	as long as short