Funding arb · Price arb / RWA

NET

RWAAll NET markets →

LONGKuCoin▾edgeX −0.0842%tradeXYZ −0.0010%Binance 0.0000%Bybit 0.0000%OKX 0.0000%QFEX 0.0000%Gate 0.0000%MEXC 0.0000%KuCoin 0.0000%Bitget 0.0000%HTX 0.0000%BingX +0.0050%Phoenix +0.0312%

⇄⇅

SHORTParagon▾Paragon +0.0844%Phoenix +0.0312%BingX +0.0050%Binance 0.0000%Bybit 0.0000%OKX 0.0000%QFEX 0.0000%Gate 0.0000%MEXC 0.0000%Bitget 0.0000%HTX 0.0000%tradeXYZ −0.0010%edgeX −0.0842%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	KuCoinNETUSDTM	282.18	0	0.0000% / 8h	3h 03m	$14K	$1.0M	20x	Long KuCoin
SHORT	Paragonpara:NET	281.68	+0.0844	get 0.0106% / 1h	3m 58s	$112K	$12K	10x	Short Paragon

Price gap−0.177%49s

Funding gap+0.0844% /8h

Funding trade: +$25 a day on $10k at the current rate, before costs. The price gap is at its 7d average.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid +0.093% in total, about +0.0074%/8h on average.

Price and funding

Entry / ExitPrice spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Entry / Exit?

Price spread?

Prices?

Funding?per 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now−0.177%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

KuCoinParagon

NET on 14 exchanges

lowest funding first

Before you open

0 ok · 5 to watch

• !
  Watch: Thin at this size383.3 / 35.2 bp

  At $10k entering KuCoin costs 383.3 bp, fee and slippage, 10.9× Paragon’s.
• i
  Note: Margin at max leverage$500 + $1,000

  KuCoin 20x, Paragon 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• !
  Watch: Payment intervals differ8h / 1h

  Payments land at different times. Close right after the slower leg pays.

  Long KuCoin · 8h$0.00

  Short Paragon · 1h+$25.33

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: +$25.33Long KuCoin: 3 payments, $0.00; short Paragon: 24 payments, +$25.33.
• !
  Watch: Prices read 49 s apart−0.177% vs −0.180%

  Part of this gap may be the market moving.
• !
  Watch: Long leg is thinner$14K vs $112K OI

  KuCoin sets your exit cost. Check its book before closing.
• i
  Note: No points program—

  Neither exchange runs points right now.
• !
  Watch: KYCKuCoin Yes · Paragon No

  Standard KYC (ID and face check) for any product since Aug 2023.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned+0.0074%/8h × 21 periods+$15.55

Price spreadprices read too far apart to compare—

Slippage, 4 orderslive order books−$726.65

Fee KuCoin bp × 2 orders−$12.00

Fee Paragon bp × 2 orders−$1.80

Net · 7 days · $10k−$724.89

price spread not counted: prices read too far apart

Costs to cover7.404%Break-even333.3 days

Slippage: KuCoin: live order book, 9 min ago; Paragon: live order book, 20 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGKuCoin12.24383.3 bp−$383doesn’t fitdoesn’t fitdoesn’t fit

SELL · SHORTParagon33.9035.2 bp−$35196.3 bp−$1,963doesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

FundingPrice spread

I'm in

NET news

posts that mention NET or Cloudflare, from every exchangeSearch all news →

10-27 09:00	KuCoin	Listing	new market NETUSDTM ($NET) seen by our collector
10-23 15:37	QFEX	Listing	new market NET-USD ($NET) seen by our collector
10-22 17:59	Paragon	Other	The 10-year Treasury yield traded below 5% today for the first time since Sept 23, as investors sought safety during the AI selloff. Security concerns lifted cyber names too. PHP2Shell, two critical PHP flaws that could let attackers run code on servers, drew urgent warnings from the NSA, FBI and cyber agencies worldwide. $NET and $CRWD are up 5.2% and 4.7% since Tuesday's close. @tradeparagon on X ↗
10-21 17:04	Paragon	Other	Node.js joins PHP in this week’s security headlines, with high-severity vulnerabilities across its 22.x, 24.x and 26.x releases. The bull case for cybersecurity is pressure on businesses to spend more on protection. CrowdStrike ($CRWD) and Cloudflare ($NET) sell that protection. Trade both 24/7 on Hyperliquid, with up to 10x leverage each. @tradeparagon on X ↗