Funding arb · Price arb /

NAS100

RWAall NAS100 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.2811%/8h= +307.8% APRpaid last 24h +0.715%

Price spread now: Kraken Futures against Phemex+0.337%7-day average +0.215% · you sell dearer than you buy

Net, funding: paid 7d − costs+$200as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$820.822% of the position

Long on Phemex Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+2.817%+$282 on $10k

Price spread, last 4 days (all we have)−1.045%−$105 · spread now +0.337%, 7d avg +0.215%

Together, before fees+1.772%+$177 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$84 a day on $10k at the current rate, and Kraken Futures is 0.122% dearer against Phemex than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.215%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NAS100USDT	30,541.8	0	get 0.0000% / 4h	1h 22m	$1.4M	$175K	10x
Short	Kraken Futures PF_US100USD	30,644.7	0.2811	get 0.0351% / 1h	22m 45s	$131K	$127K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.337%Rate

Funding earned: $590.22
Price spread: +0.337% → +0.215%: $12.24
Slippage, 4 orders: −$60.18
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $520.28
Costs to cover: 0.822%
Break-even: 0.8 days

Slippage from Phemex: live order book, 5 min ago; Kraken Futures: live order book, 39 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, 5 min ago	3.08 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 39 min ago	4.57 bp	30.7 bp −$31	86.3 bp −$863	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	30,555	+0.043%	$102K	$38K	20x	as long as short
Gate NAS100_USDT	−0.0200%	8h	30,548.1	+0.021%	$1.9M	$3.7M	100x	as long as short
MEXC NAS100_USDT	−0.0090%	8h	30,569	+0.089%	$24.6M	$19.5M	200x	as long as short
OKX US100-USDT-SWAP	0.0000%	8h	30,545	+0.011%	$263K	$380K	20x	as long as short
Bitget NDX100USDT	0.0000%	8h	30,551	+0.030%	$3.5M	$621K	50x	as long as short
Bullet US100-USD	0.0000%	1h	30,568.2	+0.087%	$3K	$89K	10x	as long as short
Phemex NAS100USDTlong	0.0000%	4h	30,541.8	long leg	$1.4M	$175K	10x
QFEX US100-USD	+0.0004%	1h	30,566	+0.079%	$1.3M	$1.1M	30x	as long as short
Lighter US100	+0.0032%	1h	30,565	+0.076%	$3.9M	$95.4M	30x	as long as short
Extended TECH100m-USD	+0.0032%	1h	30,569.9	+0.092%	$2.2M	$5.3M	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	30,859.9	+1.042%	—	$194.5M	50x	as long as short
Paradex US100-USD-PERP	+0.0050%	8h	30,561.9	+0.066%	—	—	5x	as long as short
Polymarket Perps NAS100-USD	+0.0050%	1h	30,567	+0.083%	$7.2M	$1.9M	50x	as long as short
Ondo Perps US100-USD.P	+0.0130%	1h	30,580	+0.125%	$6.0M	$8.5M	25x	as long as short
Kraken Futures PF_US100USDshort	+0.2811%	1h	30,644.7	+0.337%	$131K	$127K	20x