Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h 0.000%

Price spread now: QFEX against Aster−0.554%7-day average — · you buy dearer than you sell

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

Long on Aster Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and QFEX is 0.554% cheaper against Aster than usual: you would sell low and buy high (−$55 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster NOWUSDT	140.05	0.0054	pay 0.0054% / 8h	1h 14m	$42K	$859	20x
Short	QFEX NOW-USD	139.27	0	get 0.0000% / 1h	14m 48s	$1.1M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Aster. 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 AsterbpFee QFEXbpOrdersPrice spread, now −0.554%Rate

Funding earned: −$11.36
Price spread: −0.554% → 0.000%: −$55.4
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$84.76
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; QFEX: live order book, 2 min ago. 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 Aster no order-book sample	—	—	—	—	—
Sell QFEX live order book, 2 min ago	1.44 bp	9.6 bp −$10	19.8 bp −$198	doesn't fit	doesn't fit

Aster: 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.

NOW 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
OKX NOW-USDT-SWAP	0.0000%	8h	139.57	−0.340%	$498K	$248K	20x	as long as short
QFEX NOW-USDshort	0.0000%	1h	139.27	−0.554%	$1.1M	$1.5M	10x
Gate NOW_USDT	0.0000%	8h	139.50	−0.390%	$253K	$349K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	139.33	−0.511%	$769K	$260K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	139.50	−0.390%	$963	$337K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	139.41	−0.454%	$5K	$36K	20x	as long as short
Lighter NOW	+0.0032%	1h	139.35	−0.497%	$5K	$171	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	−0.176%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	139.31	−0.525%	—	—	25x	as long as short
Aster NOWUSDTlong	+0.0054%	8h	140.05	long leg	$42K	$859	20x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOWUSDTM	+0.0100%	8h	139.33	−0.511%	$317K	$639K	20x	as long as short
tradeXYZ xyz:NOW	+0.0145%	1h	139.30	−0.533%	$2.1M	$234K	10x	as long as short
Bybit NOWUSDT	+0.0157%	8h	139.46	−0.418%	$1.6M	$842K	25x	as long as short
Binance NOWUSDT	+0.0175%	8h	139.44	−0.433%	$1.8M	$1.5M	20x	as long as short
BloFin NOW-USDT	+0.0195%	8h	139.45	−0.425%	$46K	$18K	20x	as long as short
GRVT NOW_USDT_Perp	+0.0264%	8h	139.48	−0.404%	$333	$142K	10x	as long as short