Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0133%/8h= −14.5% APRpaid last 24h +0.012%

Price spread now: Injective against Binance+0.323%7-day average — · you sell dearer than you buy

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

Long on Binance Short on Injective

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—needs both histories

The price spread pays, funding is against you. Injective is 0.323% dearer against Binance than usual: you sell high and buy low (spread +0.323% now, against zero (this spread has no 7-day history yet)): +$32 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 8.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NOWUSDT	139.35	0.0166	pay 0.0166% / 8h	1h 06m	$1.8M	$1.5M	20x
Short	Injective NOW/USDC PERP	139.80	0.0033	get 0.0004% / 1h	6m 50s	$3K	$101	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now +0.323%Rate

Funding earned: −$27.83
Price spread: +0.323% → 0.000%: $32.29
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$5.56
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 12 min ago; Injective: no order-book sample. 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 Binance live order book, 12 min ago	1.79 bp	11.5 bp −$12	45.0 bp −$450	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	139.23	−0.086%	$496K	$242K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	139.24	−0.079%	$1.1M	$1.5M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	139.33	−0.014%	$253K	$350K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	139.29	−0.043%	$769K	$260K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	139.39	+0.029%	$969	$336K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	139.58	+0.165%	$5K	$36K	20x	as long as short
Lighter NOW	+0.0032%	1h	139.30	−0.036%	$5K	$171	5x	as long as short
Injective NOW/USDC PERPshort	+0.0033%	1h	139.80	+0.323%	$3K	$101	12x
Vest NOW-USD-PERP	+0.0046%	1h	139.28	−0.050%	—	—	25x	as long as short
Aster NOWUSDT	+0.0053%	8h	139.80	+0.324%	$41K	$859	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOWUSDTM	+0.0100%	8h	139.23	−0.086%	$318K	$636K	20x	as long as short
tradeXYZ xyz:NOW	+0.0119%	1h	139.21	−0.100%	$2.1M	$238K	10x	as long as short
BloFin NOW-USDT	+0.0137%	8h	139.40	+0.036%	$46K	$18K	20x	as long as short
Bybit NOWUSDT	+0.0153%	8h	139.35	0.000%	$1.6M	$733K	25x	as long as short
Binance NOWUSDTlong	+0.0166%	8h	139.35	long leg	$1.8M	$1.5M	20x
GRVT NOW_USDT_Perp	+0.0260%	8h	139.42	+0.050%	$294	$141K	10x	as long as short