Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.012%

Price spread now: Injective against OKX+1.348%78s7-day average — · you sell dearer than you buy

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

Long on OKX 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 1.348% dearer against OKX than usual: you sell high and buy low: +$135 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 78 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	OKX NOW-USDT-SWAP	137.94	0	get 0.0000% / 8h	6h 19m	$488K	$227K	20x
Short	Injective NOW/USDC PERP	139.80	0.0033	get 0.0004% / 1h	19m 54s	$3K	$101	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against OKX. 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 OKXbpFee InjectivebpOrdersPrice spread, now +1.348%Rate

Funding earned: $7
Price spread: +1.348% → 0.000%: $134.84
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $131.82
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: OKX: live order book, 46 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 OKX live order book, 46 min ago	0.36 bp	8.5 bp −$8	1192.9 bp −$11.9K	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 15 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	138.57	+0.455%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAPlong	0.0000%	8h	137.94	long leg	$488K	$227K	20x
QFEX NOW-USD	0.0000%	1h	137.74	−0.145%	$1.1M	$1.9M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	137.93	−0.007%	$245K	$371K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.95	+0.007%	$781K	$234K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	137.94	0.000%	$1K	$401K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.13	+0.138%	$5K	$29K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.85	−0.065%	$5K	$178	5x	as long as short
Injective NOW/USDC PERPshort	+0.0033%	1h	139.80	+1.348%	$3K	$101	12x
Vest NOW-USD-PERP	+0.0046%	1h	137.75	−0.138%	—	—	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOWUSDTM	+0.0100%	8h	137.78	−0.116%	$317K	$655K	20x	as long as short
Binance NOWUSDT	+0.0131%	8h	137.99	+0.033%	$1.8M	$1.5M	20x	as long as short
Bybit NOWUSDT	+0.0137%	8h	137.87	−0.051%	$1.5M	$5.2M	25x	as long as short
tradeXYZ xyz:NOW	+0.0313%	1h	137.78	−0.116%	$2.1M	$229K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0552%	8h	137.93	−0.006%	$559	$154K	10x	as long as short