Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h 0.000%

Price spread now: SunX against QFEX+0.265%7-day average +0.102% · 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−$137as in the Price arb table

costs, in and out, $10k−$1531.531% of the position

Long on QFEX Short on SunX

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)−0.032%−$3 · spread now +0.265%, 7d avg +0.102%

Together, before fees−0.032%−$3 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: SunX is 0.163% dearer against QFEX than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.102%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX NOW-USD	139.85	−0.0001	get 0.0000% / 1h	51m 23s	$1.1M	$1.4M	10x
Short	SunX NOW-USDT	140.22	0	get 0.0000% / 8h	5h 51m	$787	$272K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.265%Rate

Funding earned: $0.15
Price spread: +0.265% → +0.102%: $16.27
Slippage, 4 orders: −$135.14
Fee QFEX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$136.72
Costs to cover: 1.531%
Break-even: 6336.8 days

Slippage from QFEX: live order book, 3 min ago; SunX: live order book, 52 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, 3 min ago	4.29 bp	9.3 bp −$9	14.7 bp −$147	doesn't fit	doesn't fit
Sell SunX live order book, 52 min ago	46.54 bp	65.4 bp −$65	doesn't fit	doesn't fit	doesn't fit

NOW on 16 exchanges

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
QFEX NOW-USDlong	−0.0001%	1h	139.85	long leg	$1.1M	$1.4M	10x
OKX NOW-USDT-SWAP	0.0000%	8h	140.31	+0.329%	$520K	$259K	20x	as long as short
Gate NOW_USDT	0.0000%	8h	140.18	+0.236%	$241K	$333K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	140.13	+0.200%	$817K	$285K	20x	as long as short
SunX NOW-USDTshort	0.0000%	8h	140.22	+0.265%	$787	$272K	10x
HTX NOW-USDT	0.0000%	8h	140.15	+0.215%	$5K	$36K	20x	as long as short
Lighter NOW	+0.0032%	1h	140.04	+0.136%	$5K	$309	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	−0.036%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	139.94	+0.064%	—	—	25x	as long as short
Aster NOWUSDT	+0.0088%	8h	140.05	+0.140%	$41K	$4K	20x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOWUSDTM	+0.0100%	8h	140.13	+0.200%	$310K	$763K	20x	as long as short
Binance NOWUSDT	+0.0186%	8h	140.17	+0.229%	$1.9M	$1.5M	20x	as long as short
BloFin NOW-USDT	+0.0208%	8h	140.30	+0.322%	$46K	$19K	20x	as long as short
Bybit NOWUSDT	+0.0348%	8h	140.10	+0.179%	$1.6M	$187K	25x	as long as short
tradeXYZ xyz:NOW	+0.0376%	1h	140.01	+0.114%	$2.1M	$243K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0401%	8h	140.21	+0.257%	$564	$120K	10x	as long as short