Funding arb · Price arb /

NOW

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.012%

Price spread now: Injective against Gate+0.735%7-day average — · you sell dearer than you buy

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

Long on Gate 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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Injective is 0.735% dearer against Gate than usual: you sell high and buy low: +$73 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NOW_USDT	138.78	0	get 0.0000% / 8h	2h 19m	$253K	$349K	20x
Short	Injective NOW/USDC PERP	139.80	0.0033	get 0.0004% / 1h	19m 09s	$3K	$101	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now +0.735%Rate

Funding earned: $7
Price spread: +0.735% → 0.000%: $73.5
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $65.48
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Gate: live order book, 26 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 Gate live order book, 26 min ago	9.76 bp	doesn't fit	doesn't fit	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	138.85	+0.050%	$495K	$231K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	138.63	−0.108%	$1.1M	$1.5M	10x	as long as short
Gate NOW_USDTlong	0.0000%	8h	138.78	long leg	$253K	$349K	20x
Bitget NOWUSDT	0.0000%	8h	138.77	−0.007%	$769K	$254K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	138.95	+0.122%	$968	$356K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	139.01	+0.166%	$5K	$35K	20x	as long as short
Lighter NOW	+0.0032%	1h	138.76	−0.014%	$5K	$171	5x	as long as short
Injective NOW/USDC PERPshort	+0.0033%	1h	139.80	+0.735%	$3K	$101	12x
Vest NOW-USD-PERP	+0.0046%	1h	138.72	−0.043%	—	—	25x	as long as short
Aster NOWUSDT	+0.0047%	8h	139.04	+0.188%	$41K	$995	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	138.63	−0.108%	$319K	$627K	20x	as long as short
BloFin NOW-USDT	+0.0195%	8h	138.99	+0.151%	$46K	$18K	20x	as long as short
Binance NOWUSDT	+0.0213%	8h	138.88	+0.072%	$1.8M	$1.5M	20x	as long as short
tradeXYZ xyz:NOW	+0.0230%	1h	138.76	−0.014%	$2.1M	$227K	10x	as long as short
Bybit NOWUSDT	+0.0242%	8h	138.93	+0.108%	$1.6M	$1.8M	25x	as long as short
GRVT NOW_USDT_Perp	+0.0332%	8h	138.86	+0.059%	$640	$145K	10x	as long as short