NOW

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC−0.0429%/8h= −47.0% APRnext payment −$4.29 per $10,000 · paid last 24h −0.018%

Price spread now: SunX against Bybit+0.014%56s7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$240as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2382.385% of the position

Long on Bybit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 4 days (all we have)+0.141%+$14 · spread now +0.014%, 7d avg +0.009%

Together, before fees+0.123%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.009%, so right now this pair is about funding alone: −$13 a day on $10k at the current rate. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.018% in total (about -0.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.29 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NOWUSDT	140.45	0.0429	pay 0.0429% / 8h	4h 47m	$1.6M	$186K	25x
Short	SunX NOW-USDT	140.47	0	get 0.0000% / 8h	4h 47m	$1K	$256K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BybitbpFee SunXbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$90.13
Price spread: +0.014% → +0.009%: $0.54
Slippage, 4 orders: −$219.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SunX: 4 bp × 2 orders: −$8
Net: −$328.09
Costs to cover: 2.385%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; SunX: live order book, 46 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 Bybit live order book, 2 min ago	3.20 bp	26.2 bp −$26	368.3 bp −$3,683	doesn't fit	doesn't fit
Sell SunX live order book, 46 min ago	46.66 bp	71.6 bp −$72	doesn't fit	doesn't fit	doesn't fit

NOW on 16 exchanges

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	140.42	−0.021%	$521K	$259K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	140.22	−0.164%	$1.1M	$1.5M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	140.33	−0.085%	$241K	$288K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	140.45	0.000%	$824K	$278K	20x	as long as short
SunX NOW-USDTshort	0.0000%	8h	140.47	+0.014%	$1K	$256K	10x
HTX NOW-USDT	0.0000%	8h	140.50	+0.036%	$5K	$36K	20x	as long as short
Lighter NOW	+0.0032%	1h	140.37	−0.057%	$5K	$309	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	−0.463%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	140.30	−0.107%	—	—	25x	as long as short
KuCoin NOWUSDTM	+0.0100%	8h	140.52	+0.050%	$306K	$820K	20x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NOWUSDT	+0.0263%	8h	141.74	+0.921%	$42K	$4K	20x	as long as short
tradeXYZ xyz:NOW	+0.0364%	1h	140.40	−0.036%	$2.1M	$245K	10x	as long as short
Binance NOWUSDT	+0.0394%	8h	140.51	+0.039%	$1.9M	$1.6M	20x	as long as short
BloFin NOW-USDT	+0.0395%	8h	140.66	+0.150%	$47K	$19K	20x	as long as short
Bybit NOWUSDTlong	+0.0429%	8h	140.45	long leg	$1.6M	$186K	25x
GRVT NOW_USDT_Perp	+0.0904%	8h	140.54	+0.064%	$264	$118K	10x	as long as short