Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0101%/8h= −11.1% APRpaid last 24h −0.007%

Price spread now: QFEX against Aster−0.112%7-day average — · you buy dearer than you sell

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

Long on Aster Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and QFEX is 0.112% cheaper against Aster than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster NOWUSDT	140.62	0.0101	pay 0.0101% / 8h	7h 13m	$42K	$859	20x
Short	QFEX NOW-USD	140.46	0	get 0.0000% / 1h	13m 59s	$1.1M	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Aster. 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 AsterbpFee QFEXbpOrdersPrice spread, now −0.112%Rate

Funding earned: −$21.22
Price spread: −0.112% → 0.000%: −$11.23
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$50.45
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; QFEX: live order book, 8 min ago. 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 Aster no order-book sample	—	—	—	—	—
Sell QFEX live order book, 8 min ago	1.06 bp	13.8 bp −$14	19.0 bp −$190	doesn't fit	doesn't fit

Aster: 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.

NOW 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
OKX NOW-USDT-SWAP	0.0000%	8h	140.58	−0.027%	$516K	$240K	20x	as long as short
QFEX NOW-USDshort	0.0000%	1h	140.46	−0.112%	$1.1M	$1.4M	10x
Gate NOW_USDT	0.0000%	8h	140.40	−0.155%	$246K	$346K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	140.43	−0.134%	$819K	$280K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	140.53	−0.063%	$1K	$297K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	140.36	−0.183%	$5K	$37K	20x	as long as short
Lighter NOW	+0.0032%	1h	140.41	−0.148%	$5K	$308	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	−0.582%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	140.65	+0.023%	—	—	25x	as long as short
KuCoin NOWUSDTM	+0.0100%	8h	140.41	−0.148%	$316K	$685K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NOWUSDTlong	+0.0101%	8h	140.62	long leg	$42K	$859	20x
Binance NOWUSDT	+0.0189%	8h	140.49	−0.091%	$1.9M	$1.5M	20x	as long as short
BloFin NOW-USDT	+0.0216%	8h	140.78	+0.115%	$46K	$19K	20x	as long as short
Bybit NOWUSDT	+0.0231%	8h	140.44	−0.127%	$1.6M	$292K	25x	as long as short
tradeXYZ xyz:NOW	+0.0396%	1h	140.43	−0.134%	$2.1M	$242K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0596%	8h	141.02	+0.286%	$126	$136K	10x	as long as short