Funding arb · Price arb /

NAS100

RWAall NAS100 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0200%/8h= −21.9% APRpaid last 24h −0.049%

Price spread now: Gate against Phemex+0.281%7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$1031.032% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.170%−$17 on $10k

Price spread, last 3 days (all we have)−0.268%−$27 · spread now +0.281%, 7d avg +0.072%

Together, before fees−0.438%−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.209% dearer against Phemex than usual: you sell high and buy low (spread +0.281% now, against its 7-day average of +0.072%): +$21 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 3.5 days. At the pace of the last 7 days (−0.170% in total) that is about 8.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NAS100USDT	30,483.3	0	get 0.0000% / 4h	2h 34m	$1.4M	$172K	10x
Short	Gate NAS100_USDT	30,569	−0.0200	pay 0.0200% / 8h	6h 34m	$1.8M	$3.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Phemex. 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 PhemexbpFee GatebpOrdersPrice spread, now +0.281%Rate

Funding earned: −$42
Price spread: +0.281% → +0.072%: $20.87
Slippage, 4 orders: −$76.18
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$124.31
Costs to cover: 1.032%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 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 Phemex live order book, 3 min ago	0.80 bp	47.9 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	5.99 bp	24.3 bp −$24	52.9 bp −$529	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	−0.0215%	8h	30,559.5	+0.250%	$102K	$38K	20x	as long as short
Gate NAS100_USDTshort	−0.0200%	8h	30,569	+0.281%	$1.8M	$3.7M	100x
MEXC NAS100_USDT	−0.0091%	8h	30,572	+0.291%	$23.8M	$19.7M	200x	as long as short
OKX US100-USDT-SWAP	0.0000%	8h	30,556	+0.238%	$262K	$367K	20x	as long as short
Bitget NDX100USDT	0.0000%	8h	30,551	+0.222%	$3.5M	$620K	50x	as long as short
Bullet US100-USD	0.0000%	1h	30,572.1	+0.291%	$3K	$89K	10x	as long as short
Phemex NAS100USDTlong	0.0000%	4h	30,483.3	long leg	$1.4M	$172K	10x
QFEX US100-USD	+0.0001%	1h	30,572	+0.291%	$1.4M	$1.1M	30x	as long as short
Lighter US100	+0.0032%	1h	30,566	+0.271%	$3.9M	$93.3M	30x	as long as short
Extended TECH100m-USD	+0.0032%	1h	30,572.9	+0.294%	$2.2M	$5.6M	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	30,857.5	+1.227%	—	$192.5M	50x	as long as short
Paradex US100-USD-PERP	+0.0050%	8h	30,564.9	+0.267%	—	—	5x	as long as short
Polymarket Perps NAS100-USD	+0.0050%	1h	30,571	+0.288%	$7.2M	$1.9M	50x	as long as short
Ondo Perps US100-USD.P	+0.0213%	1h	30,591.4	+0.354%	$6.0M	$8.6M	25x	as long as short
Kraken Futures PF_US100USD	+0.2427%	1h	30,652.8	+0.556%	$128K	$125K	20x	as long as short