Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0171%/8h= −18.7% APRpaid last 24h 0.000%

Price spread now: QFEX against Bybit−0.158%7-day average −0.106% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$1141.143% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 7 days+0.098%+$10 · spread now −0.158%, 7d avg −0.106%

Together, before fees+0.098%+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and QFEX is 0.052% cheaper against Bybit than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.106%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NOWUSDT	139.65	0.0171	pay 0.0171% / 8h	8m 35s	$1.6M	$293K	25x
Short	QFEX NOW-USD	139.43	0	get 0.0000% / 1h	8m 35s	$1.1M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bybit. 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 BybitbpFee QFEXbpOrdersPrice spread, now −0.158%Rate

Funding earned: −$35.94
Price spread: −0.158% → −0.106%: −$5.18
Slippage, 4 orders: −$93.32
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$155.43
Costs to cover: 1.143%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 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 Bybit live order book, 3 min ago	1.79 bp	27.1 bp −$27	173.7 bp −$1,737	doesn't fit	doesn't fit
Sell QFEX live order book, 3 min ago	2.15 bp	10.9 bp −$11	20.7 bp −$207	doesn't fit	doesn't fit

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	139.50	−0.107%	$507K	$252K	20x	as long as short
QFEX NOW-USDshort	0.0000%	1h	139.43	−0.158%	$1.1M	$1.5M	10x
Gate NOW_USDT	0.0000%	8h	139.56	−0.064%	$254K	$347K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	139.55	−0.072%	$773K	$264K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	139.63	−0.014%	$1K	$325K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	139.80	+0.107%	$5K	$36K	20x	as long as short
Lighter NOW	+0.0032%	1h	139.51	−0.100%	$5K	$171	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+0.107%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	139.48	−0.122%	—	—	25x	as long as short
Aster NOWUSDT	+0.0068%	8h	139.80	+0.108%	$41K	$859	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOWUSDTM	+0.0100%	8h	139.57	−0.057%	$317K	$651K	20x	as long as short
Binance NOWUSDT	+0.0147%	8h	139.65	−0.003%	$1.8M	$1.5M	20x	as long as short
Bybit NOWUSDTlong	+0.0171%	8h	139.65	long leg	$1.6M	$293K	25x
BloFin NOW-USDT	+0.0174%	8h	139.66	+0.007%	$46K	$18K	20x	as long as short
GRVT NOW_USDT_Perp	+0.0271%	8h	139.59	−0.041%	$193	$139K	10x	as long as short
tradeXYZ xyz:NOW	+0.0326%	1h	139.45	−0.143%	$2.1M	$236K	10x	as long as short