Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.012%

Price spread now: Injective against SunX−0.555%61s7-day average — · you buy dearer than you sell

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

Long on SunX 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

Funding pays, the price is against you. Injective is 0.555% cheaper against SunX than usual: you would sell low and buy high (spread −0.555% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$55 on $10k: about 55 days of funding at the current rate (+$1 a day). The two prices were read 61 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	SunX NOW-USDT	140.58	0	get 0.0000% / 8h	4h 52m	$992	$255K	10x
Short	Injective NOW/USDC PERP	139.80	0.0033	get 0.0004% / 1h	52m 14s	$3K	$101	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against SunX. 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 SunXbpFee InjectivebpOrdersPrice spread, now −0.555%Rate

Funding earned: $7
Price spread: −0.555% → 0.000%: −$55.48
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$56.5
Costs to cover: 0.080%
Break-even: 63.5 days

Slippage unknown: SunX: live order book, 41 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 SunX live order book, 41 min ago	46.66 bp	64.8 bp −$65	doesn't fit	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 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
OKX NOW-USDT-SWAP	0.0000%	8h	140.22	−0.256%	$520K	$259K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	140.37	−0.149%	$1.1M	$1.5M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	140.56	−0.014%	$242K	$287K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	140.59	+0.007%	$825K	$278K	20x	as long as short
SunX NOW-USDTlong	0.0000%	8h	140.58	long leg	$992	$255K	10x
HTX NOW-USDT	0.0000%	8h	140.50	−0.057%	$5K	$36K	20x	as long as short
Lighter NOW	+0.0032%	1h	140.54	−0.028%	$5K	$309	5x	as long as short
Injective NOW/USDC PERPshort	+0.0033%	1h	139.80	−0.555%	$3K	$101	12x
Vest NOW-USD-PERP	+0.0046%	1h	140.48	−0.071%	—	—	25x	as long as short
KuCoin NOWUSDTM	+0.0100%	8h	140.56	−0.014%	$305K	$813K	20x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NOWUSDT	+0.0264%	8h	140.92	+0.244%	$41K	$4K	20x	as long as short
tradeXYZ xyz:NOW	+0.0317%	1h	140.54	−0.028%	$2.1M	$245K	10x	as long as short
Binance NOWUSDT	+0.0394%	8h	140.65	+0.050%	$1.9M	$1.6M	20x	as long as short
BloFin NOW-USDT	+0.0414%	8h	140.69	+0.078%	$47K	$19K	20x	as long as short
Bybit NOWUSDT	+0.0450%	8h	140.58	0.000%	$1.6M	$185K	25x	as long as short
GRVT NOW_USDT_Perp	+0.0902%	8h	140.64	+0.043%	$264	$118K	10x	as long as short