Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0176%/8h= +19.3% APRpaid last 24h −0.048%

Price spread now: GRVT against tradeXYZ+0.098%66s7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$810.806% of the position

Long on tradeXYZ Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.249%−$25 on $10k

Price spread, last 4 days (all we have)−0.095%−$9 · spread now +0.098%, 7d avg +0.052%

Together, before fees−0.344%+ Points / potential airdroptradeXYZ: Active · GRVT: Active · farm board−$34 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and GRVT is 0.046% dearer against tradeXYZ than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.052%. Mind the row above: over the last 7 days funding on this pair cost −0.249%, so the current rate has only just turned in your favour. The two prices were read 66 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	tradeXYZ xyz:NOW	137.84	0.0338	pay 0.0042% / 1h	2m 21s	$2.1M	$229K	10x
Short	GRVT NOW_USDT_Perp	137.98	0.0514	get 0.0514% / 8h	5h 02m	$717	$150K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against tradeXYZ. 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 tradeXYZbpFee GRVTbpOrdersPrice spread, now +0.098%Rate

Funding earned: $37.01
Price spread: +0.098% → +0.052%: $4.65
Slippage, 4 orders: −$53.57
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$38.91
Costs to cover: 0.806%
Break-even: 14.4 days

Slippage from tradeXYZ: live order book, 5 min ago; GRVT: live order book, 55 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 tradeXYZ live order book, 5 min ago	2.90 bp	26.6 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 55 min ago	2.90 bp	19.7 bp −$20	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
Aster NOWUSDT	0.0000%	8h	138.68	+0.608%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	138.04	+0.145%	$492K	$232K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.87	+0.022%	$1.1M	$1.8M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	137.99	+0.109%	$248K	$372K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.96	+0.087%	$781K	$234K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	137.99	+0.109%	$552	$386K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.13	+0.210%	$5K	$31K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.86	+0.015%	$5K	$178	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.422%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.88	+0.029%	—	—	25x	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	137.78	−0.044%	$318K	$629K	20x	as long as short
Bybit NOWUSDT	+0.0164%	8h	137.94	+0.073%	$1.6M	$4.8M	25x	as long as short
BloFin NOW-USDT	+0.0188%	8h	137.98	+0.102%	$229	$17K	20x	as long as short
Binance NOWUSDT	+0.0201%	8h	138.01	+0.123%	$1.8M	$1.4M	20x	as long as short
tradeXYZ xyz:NOWlong	+0.0338%	1h	137.84	long leg	$2.1M	$229K	10x
GRVT NOW_USDT_Perpshort	+0.0514%	8h	137.98	+0.098%	$717	$150K	10x