Funding arb · Price arb /

NOK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0454%/8h= −49.7% APRpaid last 24h −0.033%

Price spread now: Gate against Extended+0.113%7-day average +0.127% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$1011.010% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now +0.113%, 7d avg +0.127%

Together, before fees−0.039%+ Points / potential airdropExtended: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.127%, so right now this pair is about funding alone: −$14 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.017% in total (about -0.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended NOK-USD	10.817	0.0632	pay 0.0079% / 1h	20m 33s	$38K	$279K	10x
Short	Gate NOK_USDT	10.829	0.0178	get 0.0178% / 8h	6h 20m	$933K	$993K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Extended. 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 ExtendedbpFee GatebpOrdersPrice spread, now +0.113%Rate

Funding earned: −$95.34
Price spread: +0.113% → +0.127%: −$1.38
Slippage, 4 orders: −$81.01
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$197.74
Costs to cover: 1.010%
Break-even: never at this rate

Slippage from Extended: live order book, 29 min ago; Gate: live order book, 29 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 Extended live order book, 29 min ago	7.39 bp	22.6 bp −$23	147.4 bp −$1,474	doesn't fit	doesn't fit
Sell Gate live order book, 29 min ago	5.07 bp	31.6 bp −$32	276.2 bp −$2,762	doesn't fit	doesn't fit

NOK on 16 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
Bitget NOKSTOCKUSDT	−0.0026%	8h	10.828	+0.104%	$1.5M	$552K	20x	as long as short
Aster NOKUSDT	0.0000%	8h	10.819	+0.025%	$66K	$7K	20x	as long as short
GRVT NOK_USDT_Perp	0.0000%	8h	10.830	+0.123%	$3K	$98K	10x	as long as short
SunX NOK-USDT	0.0000%	8h	10.820	+0.030%	$1K	$1.1M	10x	as long as short
HTX NOK-USDT	0.0000%	8h	10.840	+0.215%	$9K	$6K	10x	as long as short
Phemex NOKUSDT	0.0000%	8h	10.820	+0.030%	$1.6M	$654K	10x	as long as short
Vest NOK-PERP	+0.0009%	1h	10.790	−0.247%	—	—	10x	as long as short
Lighter NOK	+0.0032%	1h	10.794	−0.210%	—	—	10x	as long as short
KuCoin NOKUSDTM	+0.0100%	8h	10.810	−0.062%	$295K	$450K	20x	as long as short
OKX NOK-USDT-SWAP	+0.0112%	8h	10.832	+0.141%	$1.2M	$1.2M	20x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NOK_USDTshort	+0.0178%	8h	10.829	+0.113%	$933K	$993K	50x
tradeXYZ xyz:NOK	+0.0239%	1h	10.806	−0.099%	$4.5M	$1.4M	10x	as long as short
Variational Omni NOK	+0.0384%	8h	10.823	+0.056%	$130K	$118K	—	as long as short
Extended NOK-USDlong	+0.0632%	1h	10.817	long leg	$38K	$279K	10x
Binance NOKUSDT	+0.0633%	8h	10.825	+0.078%	$7.4M	$10.5M	20x	as long as short
MEXC NOKSTOCK_USDT	+0.0635%	8h	10.810	−0.062%	$1.5M	$117K	50x	as long as short