Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0299%/8h= −32.7% APRpaid last 24h −0.052%

Price spread now: HTX against tradeXYZ−0.029%49s7-day average — · you buy dearer than you sell

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

Long on tradeXYZ Short on HTX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdroptradeXYZ: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and HTX is 0.029% cheaper against tradeXYZ than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 49 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	137.89	0.0299	pay 0.0037% / 1h	8m 29s	$2.1M	$226K	10x
Short	HTX NOW-USDT	137.85	0	get 0.0000% / 8h	4h 08m	$5K	$32K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.029%Rate

Funding earned: −$62.69
Price spread: −0.029% → 0.000%: −$2.9
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee HTX: 6 bp × 2 orders: −$12
Net: −$95.59
Costs to cover: 0.300%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 8 min ago; HTX: 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 tradeXYZ live order book, 8 min ago	2.54 bp	23.8 bp −$24	41.6 bp −$416	doesn't fit	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

HTX: 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 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
QFEX NOW-USD	0.0000%	1h	137.77	−0.087%	$1.1M	$1.6M	10x	as long as short
Aster NOWUSDT	0.0000%	8h	138.33	+0.321%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.87	−0.015%	$491K	$227K	20x	as long as short
Gate NOW_USDT	0.0000%	8h	137.98	+0.065%	$248K	$353K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.95	+0.044%	$781K	$234K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	137.98	+0.065%	$942	$385K	10x	as long as short
HTX NOW-USDTshort	0.0000%	8h	137.85	−0.029%	$5K	$32K	20x
Lighter NOW	+0.0032%	1h	137.91	+0.015%	$5K	$178	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.385%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.79	−0.073%	—	—	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	137.80	−0.065%	$316K	$621K	20x	as long as short
Binance NOWUSDT	+0.0175%	8h	137.99	+0.076%	$1.8M	$1.4M	20x	as long as short
BloFin NOW-USDT	+0.0183%	8h	137.98	+0.065%	$46K	$17K	20x	as long as short
Bybit NOWUSDT	+0.0205%	8h	137.95	+0.044%	$1.6M	$3.7M	25x	as long as short
tradeXYZ xyz:NOWlong	+0.0299%	1h	137.89	long leg	$2.1M	$226K	10x
GRVT NOW_USDT_Perp	+0.0390%	8h	138.01	+0.087%	$516	$149K	10x	as long as short