Funding arb · Price arb /

NAS100

RWAall NAS100 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1442%/8h= −157.9% APRpaid last 24h −0.698%

Price spread now: Orderly against Kraken Futures−0.118%7-day average −0.261% · you buy dearer than you sell

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

Long on Kraken Futures Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−2.699%−$270 on $10k

Price spread, last 4 days (all we have)+0.283%+$28 · spread now −0.118%, 7d avg −0.261%

Together, before fees−2.416%−$242 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.143% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.118% now, against its 7-day average of −0.261%): +$14 on $10k if it goes back. Holding the pair costs −$43 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_US100USD	30,495	0.1160	pay 0.0145% / 1h	57m 04s	$141K	$141K	20x
Short	Orderly PERP_NAS100_USDC	30,458.9	−0.0282	pay 0.0282% / 8h	57m 04s	$101K	$38K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 OrderlybpOrdersPrice spread, now −0.118%Rate

Funding earned: −$302.75
Price spread: −0.118% → −0.261%: $14.3
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$304.46
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 45 min ago; Orderly: 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 Kraken Futures live order book, 45 min ago	19.18 bp	28.3 bp −$28	66.0 bp −$660	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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.

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_USDCshort	−0.0282%	8h	30,458.9	−0.118%	$101K	$38K	20x
Gate NAS100_USDT	−0.0200%	8h	30,415.3	−0.261%	$2.0M	$3.3M	100x	as long as short
MEXC NAS100_USDT	−0.0068%	8h	30,470	−0.082%	$24.1M	$20.6M	200x	as long as short
OKX US100-USDT-SWAP	0.0000%	8h	30,440	−0.180%	$264K	$375K	20x	as long as short
Bitget NDX100USDT	0.0000%	8h	30,488	−0.023%	$3.5M	$631K	50x	as long as short
Bullet US100-USD	0.0000%	1h	30,471.1	−0.078%	$4K	$91K	10x	as long as short
Phemex NAS100USDT	0.0000%	4h	30,426.3	−0.225%	$1.4M	$193K	10x	as long as short
QFEX US100-USD	0.0000%	1h	30,467	−0.092%	$1.3M	$1.3M	30x	as long as short
Lighter US100	+0.0032%	1h	30,466	−0.095%	$3.9M	$93.4M	30x	as long as short
Extended TECH100m-USD	+0.0032%	1h	30,472.1	−0.075%	$2.0M	$5.9M	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	30,766.3	+0.890%	—	$203.2M	50x	as long as short
Paradex US100-USD-PERP	+0.0050%	8h	30,465.6	−0.096%	—	—	5x	as long as short
Polymarket Perps NAS100-USD	+0.0050%	1h	30,468	−0.088%	$7.2M	$2.0M	50x	as long as short
Ondo Perps US100-USD.P	+0.0050%	1h	30,471.3	−0.078%	$6.0M	$8.9M	25x	as long as short
Kraken Futures PF_US100USDlong	+0.1160%	1h	30,495	long leg	$141K	$141K	20x