Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= −0.1% APRpaid last 24h 0.000%

Price spread now: QFEX against Bitget−0.102%7-day average −0.055% · 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−$69as in the Price arb table

costs, in and out, $10k−$640.641% of the position

Long on Bitget Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now −0.102%, 7d avg −0.055%

Together, before fees+0.060%+$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: QFEX is 0.046% cheaper against Bitget than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NOWUSDT	137.86	0	get 0.0000% / 8h	51m 18s	$762K	$275K	20x
Short	QFEX NOW-USD	137.72	0.0000	pay 0.0000% / 1h	51m 18s	$1.1M	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bitget. 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 BitgetbpFee QFEXbpOrdersPrice spread, now −0.102%Rate

Funding earned: −$0.1
Price spread: −0.102% → −0.055%: −$4.62
Slippage, 4 orders: −$42.13
Fee Bitget: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$68.85
Costs to cover: 0.641%
Break-even: never at this rate

Slippage from Bitget: live order book, 24 min ago; QFEX: live order book, 6 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 Bitget live order book, 24 min ago	2.54 bp	14.4 bp −$14	29.1 bp −$291	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	2.18 bp	14.4 bp −$14	20.1 bp −$201	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
QFEX NOW-USDshort	0.0000%	1h	137.72	−0.102%	$1.1M	$2.1M	10x
Aster NOWUSDT	0.0000%	8h	137.85	−0.008%	$41K	$995	20x	as long as short
Binance NOWUSDT	0.0000%	8h	137.83	−0.022%	$1.6M	$1.3M	20x	as long as short
Bybit NOWUSDT	0.0000%	8h	137.80	−0.044%	$1.5M	$5.7M	25x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.87	+0.007%	$484K	$196K	20x	as long as short
Gate NOW_USDT	0.0000%	8h	137.81	−0.036%	$250K	$396K	20x	as long as short
Bitget NOWUSDTlong	0.0000%	8h	137.86	long leg	$762K	$275K	20x
GRVT NOW_USDT_Perp	0.0000%	8h	137.83	−0.022%	$587	$169K	10x	as long as short
SunX NOW-USDT	0.0000%	8h	137.85	−0.007%	$806	$436K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	137.87	+0.007%	$5K	$27K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin NOW-USDT	+0.0006%	8h	137.84	−0.015%	$45K	$17K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.84	−0.015%	$5K	$173	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.407%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.73	−0.094%	—	—	25x	as long as short
KuCoin NOWUSDTM	+0.0100%	8h	137.68	−0.131%	$317K	$717K	20x	as long as short
tradeXYZ xyz:NOW	+0.0319%	1h	137.78	−0.058%	$2.1M	$200K	10x	as long as short