Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Gate against QFEX+0.136%7-day average +0.045% · 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−$192as in the Price arb table

costs, in and out, $10k−$2022.016% of the position

Long on QFEX Short on Gate

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 4 days (all we have)−0.063%−$6 · spread now +0.136%, 7d avg +0.045%

Together, before fees−0.063%−$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.091% dearer against QFEX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX NOW-USD	139.56	0	get 0.0000% / 1h	54m 54s	$1.1M	$1.5M	10x
Short	Gate NOW_USDT	139.75	0	get 0.0000% / 8h	7h 54m	$254K	$305K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.136%Rate

Funding earned: $0
Price spread: +0.136% → +0.045%: $9.11
Slippage, 4 orders: −$176.6
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$192.49
Costs to cover: 2.016%
Break-even: never at this rate

Slippage from QFEX: live order book, 2 min ago; Gate: live order book, 40 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, 2 min ago	1.43 bp	25.0 bp −$25	32.6 bp −$326	doesn't fit	doesn't fit
Sell Gate live order book, 40 min ago	25.47 bp	35.5 bp −$35	doesn't fit	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	139.83	+0.193%	$508K	$254K	20x	as long as short
QFEX NOW-USDlong	0.0000%	1h	139.56	long leg	$1.1M	$1.5M	10x
Gate NOW_USDTshort	0.0000%	8h	139.75	+0.136%	$254K	$305K	20x
Bitget NOWUSDT	0.0000%	8h	139.83	+0.193%	$780K	$262K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	139.80	+0.172%	$930	$322K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	139.81	+0.179%	$5K	$36K	20x	as long as short
Lighter NOW	+0.0032%	1h	139.66	+0.072%	$5K	$171	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+0.172%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	139.59	+0.021%	—	—	25x	as long as short
Aster NOWUSDT	+0.0079%	8h	140.38	+0.585%	$42K	$859	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	139.72	+0.115%	$317K	$659K	20x	as long as short
BloFin NOW-USDT	+0.0142%	8h	139.70	+0.100%	$46K	$18K	20x	as long as short
Binance NOWUSDT	+0.0162%	8h	139.94	+0.272%	$1.9M	$1.5M	20x	as long as short
tradeXYZ xyz:NOW	+0.0521%	1h	139.83	+0.193%	$2.1M	$236K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0877%	8h	139.67	+0.080%	$187	$138K	10x	as long as short
Bybit NOWUSDT	+0.0947%	8h	139.91	+0.251%	$1.6M	$294K	25x	as long as short