Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0552%/8h= +60.4% APRpaid last 24h +0.001%

Price spread now: GRVT against QFEX+0.154%7-day average +0.089% · 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−$52as in the Price arb table

costs, in and out, $10k−$580.582% of the position

Long on QFEX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.377%−$38 · spread now +0.154%, 7d avg +0.089%

Together, before fees−0.376%+ Points / potential airdropGRVT: Active · farm board−$38 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and GRVT is 0.065% dearer against QFEX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.089%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.001% in total (about 0.1% 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	137.72	0	get 0.0000% / 1h	21m 06s	$1.1M	$1.9M	10x
Short	GRVT NOW_USDT_Perp	137.93	0.0552	get 0.0552% / 8h	6h 21m	$559	$154K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.154%Rate

Funding earned: $115.92
Price spread: +0.154% → +0.089%: $6.48
Slippage, 4 orders: −$39.22
Fee QFEX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $64.17
Costs to cover: 0.582%
Break-even: 3.1 days

Slippage from QFEX: live order book, 6 min ago; GRVT: live order book, 42 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, 6 min ago	1.82 bp	9.1 bp −$9	17.5 bp −$175	doesn't fit	doesn't fit
Sell GRVT live order book, 42 min ago	4.34 bp	13.7 bp −$14	48.2 bp −$482	doesn't fit	doesn't fit

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	+0.620%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.94	+0.160%	$488K	$227K	20x	as long as short
QFEX NOW-USDlong	0.0000%	1h	137.72	long leg	$1.1M	$1.9M	10x
Gate NOW_USDT	0.0000%	8h	137.94	+0.160%	$245K	$371K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.95	+0.167%	$781K	$234K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	137.94	+0.160%	$1K	$401K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.10	+0.276%	$5K	$29K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.85	+0.094%	$5K	$178	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.510%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.73	+0.007%	—	—	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	137.75	+0.022%	$317K	$655K	20x	as long as short
Binance NOWUSDT	+0.0131%	8h	137.96	+0.176%	$1.8M	$1.5M	20x	as long as short
Bybit NOWUSDT	+0.0140%	8h	137.87	+0.109%	$1.5M	$5.3M	25x	as long as short
tradeXYZ xyz:NOW	+0.0315%	1h	137.79	+0.051%	$2.1M	$229K	10x	as long as short
GRVT NOW_USDT_Perpshort	+0.0552%	8h	137.93	+0.154%	$559	$154K	10x