Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0425%/8h= +46.6% APRpaid last 24h +0.054%

Price spread now: tradeXYZ against Bitget−0.007%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$740.742% of the position

Long on Bitget Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.278%+$28 on $10k

Price spread, last 4 days (all we have)−0.020%−$2 · spread now −0.007%, 7d avg −0.027%

Together, before fees+0.259%+ Points / potential airdroptradeXYZ: Active · farm board+$26 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.027%, so right now this pair is about funding alone: +$13 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.278% in total (about 14.5% 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	Bitget NOWUSDT	137.98	0	get 0.0000% / 8h	3h 46m	$781K	$235K	20x
Short	tradeXYZ xyz:NOW	137.97	0.0425	get 0.0053% / 1h	46m 35s	$2.1M	$226K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.007%Rate

Funding earned: $89.3
Price spread: −0.007% → −0.027%: $1.95
Slippage, 4 orders: −$44.17
Fee Bitget: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $17.08
Costs to cover: 0.742%
Break-even: 5.7 days

Slippage from Bitget: live order book, 4 min ago; tradeXYZ: live order book, 1 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, 4 min ago	1.09 bp	20.0 bp −$20	29.3 bp −$293	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 1 min ago	3.26 bp	17.6 bp −$18	doesn't fit	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
Aster NOWUSDT	0.0000%	8h	138.41	+0.312%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.92	−0.043%	$491K	$226K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.87	−0.080%	$1.1M	$1.5M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	138.13	+0.109%	$249K	$348K	20x	as long as short
Bitget NOWUSDTlong	0.0000%	8h	137.98	long leg	$781K	$235K	20x
SunX NOW-USDT	0.0000%	8h	138.13	+0.109%	$818	$381K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.17	+0.138%	$5K	$33K	20x	as long as short
Lighter NOW	+0.0032%	1h	138.07	+0.065%	$5K	$184	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.319%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.88	−0.072%	—	—	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	137.87	−0.080%	$316K	$635K	20x	as long as short
Binance NOWUSDT	+0.0202%	8h	138.14	+0.116%	$1.8M	$1.4M	20x	as long as short
Bybit NOWUSDT	+0.0207%	8h	138.12	+0.101%	$1.6M	$3.3M	25x	as long as short
BloFin NOW-USDT	+0.0231%	8h	138.16	+0.130%	$46K	$17K	20x	as long as short
GRVT NOW_USDT_Perp	+0.0418%	8h	138.12	+0.101%	$355	$147K	10x	as long as short
tradeXYZ xyz:NOWshort	+0.0425%	1h	137.97	−0.007%	$2.1M	$226K	10x