Funding arb · Price arb /

NOK

RWAall NOK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0442%/8h= +48.4% APRpaid last 24h +0.074%

Price spread now: tradeXYZ against Phemex−0.172%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$146as in the Funding arb table

Net, price: spread back to 7d avg − costs−$201as in the Price arb table

costs, in and out, $10k−$1841.841% of the position

Long on Phemex Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.381%+$38 on $10k

Price spread, last 3 days (all we have)+0.199%+$20 · spread now −0.172%, 7d avg −0.008%

Together, before fees+0.579%+ Points / potential airdroptradeXYZ: Active · farm board+$58 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.164% cheaper against Phemex than usual: you would sell low and buy high (spread −0.172% now, against its 7-day average of −0.008%). If the spread goes back, that is −$16 on $10k: about 30 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.381% in total) that is about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NOKUSDT	11.040	0	get 0.0000% / 8h	5h 51m	$1.6M	$536K	10x
Short	tradeXYZ xyz:NOK	11.021	0.0442	get 0.0055% / 1h	51m 09s	$4.2M	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.172%Rate

Funding earned: $92.83
Price spread: −0.172% → −0.008%: −$16.43
Slippage, 4 orders: −$154.1
Fee Phemex: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$107.7
Costs to cover: 1.841%
Break-even: 15.1 days

Slippage from Phemex: live order book, 2 min ago; tradeXYZ: live order book, 7 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	4.53 bp	74.7 bp −$75	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 7 min ago	2.27 bp	26.2 bp −$26	doesn't fit	doesn't fit	doesn't fit

NOK on 16 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
Aster NOKUSDT	0.0000%	8h	11.020	−0.184%	$67K	$7K	20x	as long as short
Extended NOK-USD	0.0000%	1h	11.027	−0.118%	$37K	$173K	10x	as long as short
Binance NOKUSDT	0.0000%	8h	11.035	−0.046%	$7.5M	$8.9M	20x	as long as short
OKX NOK-USDT-SWAP	0.0000%	8h	11.032	−0.072%	$1.2M	$1.2M	20x	as long as short
MEXC NOKSTOCK_USDT	0.0000%	8h	11.020	−0.181%	$1.6M	$111K	50x	as long as short
Bitget NOKSTOCKUSDT	0.0000%	8h	11.051	+0.100%	$1.5M	$587K	20x	as long as short
Variational Omni NOK	0.0000%	8h	11.023	−0.152%	$137K	$113K	—	as long as short
GRVT NOK_USDT_Perp	0.0000%	8h	11.020	−0.181%	$3K	$149K	10x	as long as short
SunX NOK-USDT	0.0000%	8h	11.030	−0.091%	$827	$1.4M	10x	as long as short
HTX NOK-USDT	0.0000%	8h	11.040	0.000%	$9K	$5K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex NOKUSDTlong	0.0000%	8h	11.040	long leg	$1.6M	$536K	10x
Gate NOK_USDT	+0.0003%	8h	11.043	+0.027%	$972K	$984K	50x	as long as short
Lighter NOK	+0.0032%	1h	11.009	−0.281%	—	—	10x	as long as short
Vest NOK-PERP	+0.0046%	1h	11.000	−0.362%	—	—	10x	as long as short
KuCoin NOKUSDTM	+0.0100%	8h	11.030	−0.091%	$300K	$341K	20x	as long as short
tradeXYZ xyz:NOKshort	+0.0442%	1h	11.021	−0.172%	$4.2M	$1.1M	10x