Funding arb · Price arb /

NAS100

RWAall NAS100 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: QFEX against Phemex+0.232%7-day average +0.167% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$600.599% of the position

Long on Phemex Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.007%+$1 on $10k

Price spread, last 4 days (all we have)−0.099%−$10 · spread now +0.232%, 7d avg +0.167%

Together, before fees−0.092%−$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: QFEX is 0.065% dearer against Phemex than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.167%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NAS100USDT	30,404.4	0	get 0.0000% / 4h	2m 57s	$1.4M	$195K	10x
Short	QFEX US100-USD	30,475	0.0000	get 0.0000% / 1h	2m 57s	$1.3M	$1.3M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.232%Rate

Funding earned: $0.02
Price spread: +0.232% → +0.167%: $6.47
Slippage, 4 orders: −$37.86
Fee Phemex: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$53.37
Costs to cover: 0.599%
Break-even: 22246.0 days

Slippage from Phemex: live order book, 5 min ago; QFEX: 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, 5 min ago	9.07 bp	24.8 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 3 min ago	0.16 bp	7.4 bp −$7	7.6 bp −$76	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	−0.0282%	8h	30,465.8	+0.202%	$101K	$38K	20x	as long as short
Gate NAS100_USDT	−0.0200%	8h	30,427.6	+0.076%	$2.0M	$3.3M	100x	as long as short
MEXC NAS100_USDT	−0.0065%	8h	30,476	+0.235%	$22.7M	$21.2M	200x	as long as short
OKX US100-USDT-SWAP	0.0000%	8h	30,449	+0.147%	$266K	$387K	20x	as long as short
Bitget NDX100USDT	0.0000%	8h	30,491	+0.285%	$3.5M	$630K	50x	as long as short
Bullet US100-USD	0.0000%	1h	30,475.3	+0.233%	$4K	$91K	10x	as long as short
Phemex NAS100USDTlong	0.0000%	4h	30,404.4	long leg	$1.4M	$195K	10x
QFEX US100-USDshort	0.0000%	1h	30,475	+0.232%	$1.3M	$1.3M	30x
Lighter US100	+0.0032%	1h	30,472	+0.222%	$4.0M	$97.2M	30x	as long as short
Extended TECH100m-USD	+0.0032%	1h	30,479.6	+0.247%	$1.9M	$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	30,776.1	+1.223%	—	$203.3M	50x	as long as short
Paradex US100-USD-PERP	+0.0050%	8h	30,469.8	+0.215%	—	—	5x	as long as short
Polymarket Perps NAS100-USD	+0.0050%	1h	30,476	+0.235%	$7.2M	$2.0M	50x	as long as short
Ondo Perps US100-USD.P	+0.0050%	1h	30,473.5	+0.227%	$6.0M	$9.1M	25x	as long as short
Kraken Futures PF_US100USD	+0.1162%	1h	30,448.8	+0.146%	$141K	$128K	20x	as long as short