Funding arb · Price arb /

NOK

RWAall NOK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.074%

Price spread now: Phemex against tradeXYZ+0.064%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$199as in the Funding arb table

Net, price: spread back to 7d avg − costs−$155as in the Price arb table

costs, in and out, $10k−$1611.608% of the position

Long on tradeXYZ Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.381%−$38 on $10k

Price spread, last 4 days (all we have)−0.241%−$24 · spread now +0.064%, 7d avg +0.008%

Together, before fees−0.622%+ Points / potential airdroptradeXYZ: Active · farm board−$62 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.055% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.064% now, against its 7-day average of +0.008%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.7 days. At the pace of the last 7 days (−0.381% in total) that is about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:NOK	11.023	0.0050	pay 0.0006% / 1h	59m 38s	$4.2M	$1.1M	10x
Short	Phemex NOKUSDT	11.030	0	get 0.0000% / 8h	4h 59m	$1.6M	$542K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against tradeXYZ. 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 tradeXYZbpFee PhemexbpOrdersPrice spread, now +0.064%Rate

Funding earned: −$10.5
Price spread: +0.064% → +0.008%: $5.54
Slippage, 4 orders: −$130.84
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$165.8
Costs to cover: 1.608%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 9 min ago; Phemex: 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 tradeXYZ live order book, 9 min ago	1.36 bp	15.5 bp −$15	36.3 bp −$363	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	22.68 bp	63.0 bp −$63	doesn't fit	doesn't fit	doesn't fit

NOK on 16 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
Aster NOKUSDT	0.0000%	8h	11.023	+0.004%	$67K	$7K	20x	as long as short
Extended NOK-USD	0.0000%	1h	11.027	+0.035%	$39K	$167K	10x	as long as short
Binance NOKUSDT	0.0000%	8h	11.030	+0.064%	$7.5M	$9.0M	20x	as long as short
OKX NOK-USDT-SWAP	0.0000%	8h	11.024	+0.009%	$1.2M	$1.2M	20x	as long as short
MEXC NOKSTOCK_USDT	0.0000%	8h	11.020	−0.027%	$1.6M	$110K	50x	as long as short
Bitget NOKSTOCKUSDT	0.0000%	8h	11.035	+0.109%	$1.5M	$586K	20x	as long as short
Variational Omni NOK	0.0000%	8h	11.023	−0.002%	$137K	$113K	—	as long as short
GRVT NOK_USDT_Perp	0.0000%	8h	11.010	−0.118%	$3K	$147K	10x	as long as short
SunX NOK-USDT	0.0000%	8h	11.020	−0.027%	$1K	$1.4M	10x	as long as short
HTX NOK-USDT	0.0000%	8h	11.030	+0.064%	$9K	$5K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex NOKUSDTshort	0.0000%	8h	11.030	+0.064%	$1.6M	$542K	10x
Gate NOK_USDT	+0.0008%	8h	11.034	+0.100%	$967K	$987K	50x	as long as short
Lighter NOK	+0.0032%	1h	11.019	−0.036%	—	—	10x	as long as short
Vest NOK-PERP	+0.0046%	1h	11.020	−0.027%	—	—	10x	as long as short
tradeXYZ xyz:NOKlong	+0.0050%	1h	11.023	long leg	$4.2M	$1.1M	10x
KuCoin NOKUSDTM	+0.0100%	8h	11.030	+0.064%	$301K	$366K	20x	as long as short