Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0234%/8h= −25.6% APRpaid last 24h 0.000%

Price spread now: QFEX against Binance−0.181%7-day average −0.112% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$410.409% of the position

Long on Binance Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 7 days+0.063%+$6 · spread now −0.181%, 7d avg −0.112%

Together, before fees+0.063%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and QFEX is 0.069% cheaper against Binance than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.112%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.000% in total (about -0.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NOWUSDT	138.03	0.0234	pay 0.0234% / 8h	3h 29m	$1.8M	$1.4M	20x
Short	QFEX NOW-USD	137.78	0	get 0.0000% / 1h	29m 58s	$1.1M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.181%Rate

Funding earned: −$49.16
Price spread: −0.181% → −0.112%: −$6.86
Slippage, 4 orders: −$20.92
Fee Binance: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$96.95
Costs to cover: 0.409%
Break-even: never at this rate

Slippage from Binance: live order book, 4 min ago; QFEX: live order book, 2 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 Binance live order book, 4 min ago	0.36 bp	9.3 bp −$9	45.2 bp −$452	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	2.54 bp	10.7 bp −$11	19.1 bp −$191	doesn't fit	doesn't fit

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	137.91	−0.087%	$491K	$227K	20x	as long as short
QFEX NOW-USDshort	0.0000%	1h	137.78	−0.181%	$1.1M	$1.5M	10x
Gate NOW_USDT	0.0000%	8h	137.98	−0.036%	$248K	$352K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.95	−0.058%	$788K	$240K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	138.05	+0.014%	$948	$379K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.14	+0.080%	$5K	$33K	20x	as long as short
Aster NOWUSDT	+0.0011%	8h	138.51	+0.350%	$41K	$995	20x	as long as short
Lighter NOW	+0.0032%	1h	137.98	−0.036%	$5K	$184	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.282%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.81	−0.159%	—	—	25x	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	137.83	−0.145%	$317K	$634K	20x	as long as short
BloFin NOW-USDT	+0.0204%	8h	138.00	−0.022%	$46K	$17K	20x	as long as short
Bybit NOWUSDT	+0.0223%	8h	137.98	−0.036%	$1.6M	$3.0M	25x	as long as short
Binance NOWUSDTlong	+0.0234%	8h	138.03	long leg	$1.8M	$1.4M	20x
tradeXYZ xyz:NOW	+0.0304%	1h	137.91	−0.087%	$2.1M	$224K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0444%	8h	138.02	−0.008%	$337	$147K	10x	as long as short