Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: QFEX against SunX−0.181%7-day average −0.100% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$159as in the Price arb table

costs, in and out, $10k−$1511.507% of the position

Long on SunX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.021%+$2 · spread now −0.181%, 7d avg −0.100%

Together, before fees+0.021%+$2 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: QFEX is 0.081% cheaper against SunX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.100%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NOW-USDT	137.96	0	get 0.0000% / 8h	7h 36m	$843	$422K	10x
Short	QFEX NOW-USD	137.71	0	get 0.0000% / 1h	36m 45s	$1.1M	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.181%Rate

Funding earned: $0
Price spread: −0.181% → −0.100%: −$8.11
Slippage, 4 orders: −$132.7
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$158.81
Costs to cover: 1.507%
Break-even: never at this rate

Slippage from SunX: live order book, 14 min ago; QFEX: live order book, 5 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 SunX live order book, 14 min ago	47.48 bp	65.5 bp −$65	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	1.81 bp	11.2 bp −$11	18.3 bp −$183	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
BloFin NOW-USDT	−0.0024%	8h	137.82	−0.101%	$45K	$17K	20x	as long as short
Aster NOWUSDT	0.0000%	8h	137.92	−0.029%	$41K	$995	20x	as long as short
Binance NOWUSDT	0.0000%	8h	138.05	+0.065%	$1.6M	$1.5M	20x	as long as short
Bybit NOWUSDT	0.0000%	8h	137.99	+0.022%	$1.5M	$5.7M	25x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.93	−0.022%	$498K	$209K	20x	as long as short
QFEX NOW-USDshort	0.0000%	1h	137.71	−0.181%	$1.1M	$2.1M	10x
Gate NOW_USDT	0.0000%	8h	137.97	+0.007%	$246K	$366K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	138.07	+0.080%	$764K	$246K	20x	as long as short
GRVT NOW_USDT_Perp	0.0000%	8h	137.85	−0.082%	$289	$164K	10x	as long as short
SunX NOW-USDTlong	0.0000%	8h	137.96	long leg	$843	$422K	10x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NOW-USDT	0.0000%	8h	137.85	−0.080%	$5K	$28K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.98	+0.014%	$5K	$173	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.334%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.76	−0.145%	—	—	25x	as long as short
KuCoin NOWUSDTM	+0.0100%	8h	137.65	−0.225%	$317K	$668K	20x	as long as short
tradeXYZ xyz:NOW	+0.0177%	1h	137.90	−0.043%	$2.1M	$229K	10x	as long as short