Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0191%/8h= +21.0% APRpaid last 24h 0.000%

Price spread now: Binance against QFEX+0.094%7-day average +0.112% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$460.463% of the position

Long on QFEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 7 days−0.014%−$1 · spread now +0.094%, 7d avg +0.112%

Together, before fees−0.014%−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.112%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.000% in total (about 0.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX NOW-USD	138.90	0	get 0.0000% / 1h	32m 16s	$1.1M	$1.5M	10x
Short	Binance NOWUSDT	139.03	0.0191	get 0.0191% / 8h	1h 32m	$1.8M	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against QFEX. 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 QFEXbpFee BinancebpOrdersPrice spread, now +0.094%Rate

Funding earned: $40.18
Price spread: +0.094% → +0.112%: −$1.76
Slippage, 4 orders: −$26.25
Fee QFEX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$7.83
Costs to cover: 0.463%
Break-even: 8.4 days

Slippage from QFEX: live order book, 9 min ago; Binance: live order book, 1 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 QFEX live order book, 9 min ago	1.44 bp	11.0 bp −$11	19.3 bp −$193	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	0.72 bp	7.4 bp −$7	45.6 bp −$456	doesn't fit	doesn't fit

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	138.89	−0.007%	$496K	$232K	20x	as long as short
QFEX NOW-USDlong	0.0000%	1h	138.90	long leg	$1.1M	$1.5M	10x
Gate NOW_USDT	0.0000%	8h	138.98	+0.058%	$253K	$347K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	138.92	+0.014%	$769K	$255K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	138.94	+0.029%	$989	$347K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	139.13	+0.166%	$5K	$36K	20x	as long as short
Lighter NOW	+0.0032%	1h	138.93	+0.022%	$5K	$171	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+0.648%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	138.94	+0.029%	—	—	25x	as long as short
Aster NOWUSDT	+0.0062%	8h	139.37	+0.340%	$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	138.88	−0.014%	$318K	$637K	20x	as long as short
BloFin NOW-USDT	+0.0188%	8h	138.96	+0.043%	$46K	$18K	20x	as long as short
Bybit NOWUSDT	+0.0190%	8h	139.08	+0.130%	$1.6M	$1.1M	25x	as long as short
Binance NOWUSDTshort	+0.0191%	8h	139.03	+0.094%	$1.8M	$1.5M	20x
tradeXYZ xyz:NOW	+0.0201%	1h	138.96	+0.043%	$2.1M	$228K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0295%	8h	139.03	+0.090%	$356	$143K	10x	as long as short