Funding arb · Price arb /

NAS100

RWAall NAS100 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.2993%/8h= −327.7% APRpaid last 24h −0.773%

Price spread now: Gate against Kraken Futures−0.356%7-day average −0.148% · you buy dearer than you sell

Net, funding: paid 7d − costs−$390as in the Funding arb table

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

costs, in and out, $10k−$900.903% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−2.993%−$299 on $10k

Price spread, last 4 days (all we have)+1.109%+$111 · spread now −0.356%, 7d avg −0.148%

Together, before fees−1.884%−$188 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$90 a day on $10k at the current rate, and Gate is 0.209% cheaper against Kraken Futures than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of −0.148%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_US100USD	30,653.9	0.2793	pay 0.0349% / 1h	10m 39s	$131K	$127K	20x
Short	Gate NAS100_USDT	30,544.7	−0.0200	pay 0.0200% / 8h	4h 10m	$1.9M	$3.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Kraken Futures. 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 Kraken FuturesbpFee GatebpOrdersPrice spread, now −0.356%Rate

Funding earned: −$628.43
Price spread: −0.356% → −0.148%: −$20.87
Slippage, 4 orders: −$65.3
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$739.59
Costs to cover: 0.903%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 47 min ago; Gate: live order book, 3 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 Kraken Futures live order book, 47 min ago	4.57 bp	14.6 bp −$15	48.8 bp −$488	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	4.04 bp	21.5 bp −$21	50.5 bp −$505	doesn't fit	doesn't fit

NAS100 on 15 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
Orderly PERP_NAS100_USDC	−0.0212%	8h	30,565.2	−0.289%	$102K	$38K	20x	as long as short
Gate NAS100_USDTshort	−0.0200%	8h	30,544.7	−0.356%	$1.9M	$3.7M	100x
MEXC NAS100_USDT	−0.0106%	8h	30,578	−0.248%	$24.8M	$19.7M	200x	as long as short
OKX US100-USDT-SWAP	0.0000%	8h	30,534	−0.391%	$262K	$379K	20x	as long as short
Bitget NDX100USDT	0.0000%	8h	30,557	−0.316%	$3.5M	$633K	50x	as long as short
Bullet US100-USD	0.0000%	1h	30,578.3	−0.247%	$2K	$90K	10x	as long as short
Phemex NAS100USDT	0.0000%	4h	30,544.7	−0.356%	$1.4M	$183K	10x	as long as short
QFEX US100-USD	+0.0001%	1h	30,577	−0.251%	$1.3M	$1.4M	30x	as long as short
Lighter US100	+0.0032%	1h	30,574	−0.261%	$3.9M	$96.3M	30x	as long as short
Extended TECH100m-USD	+0.0032%	1h	30,580.1	−0.241%	$2.0M	$5.7M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NDX-USD-PERP	+0.0046%	1h	30,867	+0.695%	—	$199.1M	50x	as long as short
Paradex US100-USD-PERP	+0.0050%	8h	30,573.9	−0.261%	—	—	5x	as long as short
Polymarket Perps NAS100-USD	+0.0050%	1h	30,578	−0.248%	$7.2M	$1.9M	50x	as long as short
Ondo Perps US100-USD.P	+0.0118%	1h	30,586.1	−0.221%	$6.0M	$8.5M	25x	as long as short
Kraken Futures PF_US100USDlong	+0.2793%	1h	30,653.9	long leg	$131K	$127K	20x