Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0163%/8h= +17.9% APRpaid last 24h −0.012%

Price spread now: Binance against Injective−1.323%67s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Binance

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

Funding pays, the price is against you. Binance is 1.323% cheaper against Injective than usual: you would sell low and buy high (spread −1.323% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$132 on $10k: about 27 days of funding at the current rate (+$5 a day). The two prices were read 67 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective NOW/USDC PERP	139.80	0.0033	pay 0.0004% / 1h	34m 22s	$3K	$101	12x
Short	Binance NOWUSDT	137.95	0.0197	get 0.0197% / 8h	5h 34m	$1.8M	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now −1.323%Rate

Funding earned: $34.33
Price spread: −1.323% → 0.000%: −$132.33
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: −$108.02
Costs to cover: 0.100%
Break-even: 29.0 days

Slippage unknown: Injective: no order-book sample; Binance: live order book, 14 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 14 min ago	1.09 bp	16.4 bp −$16	62.7 bp −$627	doesn't fit	doesn't fit

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
Aster NOWUSDT	0.0000%	8h	138.21	−1.140%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.78	−1.445%	$488K	$228K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.75	−1.466%	$1.1M	$1.9M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	137.84	−1.402%	$248K	$370K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.90	−1.359%	$781K	$234K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	137.90	−1.359%	$823	$386K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.11	−1.209%	$5K	$30K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.85	−1.395%	$5K	$178	5x	as long as short
Injective NOW/USDC PERPlong	+0.0033%	1h	139.80	long leg	$3K	$101	12x
Vest NOW-USD-PERP	+0.0046%	1h	137.76	−1.459%	—	—	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	137.78	−1.445%	$318K	$646K	20x	as long as short
BloFin NOW-USDT	+0.0185%	8h	137.89	−1.366%	$46K	$17K	20x	as long as short
Binance NOWUSDTshort	+0.0197%	8h	137.95	−1.323%	$1.8M	$1.4M	20x
Bybit NOWUSDT	+0.0215%	8h	137.89	−1.366%	$1.6M	$4.9M	25x	as long as short
tradeXYZ xyz:NOW	+0.0417%	1h	137.78	−1.445%	$2.1M	$229K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0584%	8h	137.95	−1.324%	$206	$152K	10x	as long as short