Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0190%/8h= +20.8% APRpaid last 24h +0.047%

Price spread now: tradeXYZ against Binance−0.119%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$740.741% of the position

Long on Binance Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.245%+$25 on $10k

Price spread, last 2 days (all we have)+0.041%+$4 · spread now −0.119%, 7d avg −0.059%

Together, before fees+0.286%+ Points / potential airdroptradeXYZ: Active · farm board+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.059% cheaper against Binance than usual: you would sell low and buy high (spread −0.119% now, against its 7-day average of −0.059%). If the spread goes back, that is −$6 on $10k: about 25 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NOWUSDT	138.02	0.0143	pay 0.0143% / 8h	6h 14m	$1.8M	$1.5M	20x
Short	tradeXYZ xyz:NOW	137.86	0.0333	get 0.0042% / 1h	14m 20s	$2.1M	$229K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Binance. 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 BinancebpFee tradeXYZbpOrdersPrice spread, now −0.119%Rate

Funding earned: $39.93
Price spread: −0.119% → −0.059%: −$5.94
Slippage, 4 orders: −$46.14
Fee Binance: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$40.15
Costs to cover: 0.741%
Break-even: 14.0 days

Slippage from Binance: live order book, 4 min ago; tradeXYZ: 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 Binance live order book, 4 min ago	1.81 bp	13.0 bp −$13	49.3 bp −$493	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 3 min ago	3.26 bp	18.4 bp −$18	doesn't fit	doesn't fit	doesn't fit

NOW 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
Aster NOWUSDT	0.0000%	8h	138.81	+0.572%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.94	−0.061%	$488K	$227K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.83	−0.140%	$1.1M	$1.9M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	138.01	−0.010%	$245K	$372K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.95	−0.053%	$781K	$234K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	138.05	+0.019%	$947	$401K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.04	+0.012%	$5K	$29K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.91	−0.082%	$5K	$178	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.287%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.83	−0.140%	—	—	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOWUSDTM	+0.0100%	8h	137.89	−0.097%	$316K	$658K	20x	as long as short
Binance NOWUSDTlong	+0.0143%	8h	138.02	long leg	$1.8M	$1.5M	20x
Bybit NOWUSDT	+0.0152%	8h	138.01	−0.010%	$1.6M	$5.1M	25x	as long as short
tradeXYZ xyz:NOWshort	+0.0333%	1h	137.86	−0.119%	$2.1M	$229K	10x
GRVT NOW_USDT_Perp	+0.0543%	8h	137.96	−0.045%	$305	$152K	10x	as long as short