Funding arb · Price arb /

NOW

RWAall NOW markets

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: SunX against Injective−0.837%7-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 SunX

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 against this trade now: funding costs −$1 a day on $10k at the current rate, and SunX is 0.837% cheaper against Injective than usual: you would sell low and buy high (−$84 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

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	SunX NOW-USDT	138.63	0	get 0.0000% / 8h	2h 34m	$832	$367K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.837%Rate

Funding earned: −$7
Price spread: −0.837% → 0.000%: −$83.69
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: −$98.71
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; SunX: live order book, 36 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 SunX live order book, 36 min ago	45.94 bp	65.0 bp −$65	doesn't fit	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
OKX NOW-USDT-SWAP	0.0000%	8h	138.62	−0.844%	$494K	$230K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	138.35	−1.037%	$1.1M	$1.4M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	138.48	−0.944%	$253K	$347K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	138.38	−1.016%	$767K	$254K	20x	as long as short
SunX NOW-USDTshort	0.0000%	8h	138.63	−0.837%	$832	$367K	10x
HTX NOW-USDT	0.0000%	8h	138.69	−0.794%	$5K	$35K	20x	as long as short
Lighter NOW	+0.0032%	1h	138.50	−0.930%	$5K	$171	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	138.45	−0.966%	—	—	25x	as long as short
Aster NOWUSDT	+0.0054%	8h	138.51	−0.921%	$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	138.28	−1.087%	$318K	$628K	20x	as long as short
BloFin NOW-USDT	+0.0212%	8h	138.52	−0.916%	$46K	$18K	20x	as long as short
Binance NOWUSDT	+0.0236%	8h	138.38	−1.019%	$1.8M	$1.4M	20x	as long as short
Bybit NOWUSDT	+0.0246%	8h	138.43	−0.980%	$1.6M	$2.1M	25x	as long as short
tradeXYZ xyz:NOW	+0.0292%	1h	138.40	−1.001%	$2.1M	$225K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0374%	8h	138.59	−0.866%	$650	$147K	10x	as long as short