Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.012%

Price spread now: Injective against Gate−0.100%54s7-day average — · you buy dearer than you sell

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

Long on Gate Short on Injective

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—needs both histories

Funding pays, the price is against you. Injective is 0.100% cheaper against Gate than usual: you would sell low and buy high (spread −0.100% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 10 days of funding at the current rate (+$1 a day). The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NOW_USDT	139.94	0	get 0.0000% / 8h	5h 48m	$240K	$333K	20x
Short	Injective NOW/USDC PERP	139.80	0.0033	get 0.0004% / 1h	48m 19s	$3K	$101	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now −0.100%Rate

Funding earned: $7
Price spread: −0.100% → 0.000%: −$10
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$18.02
Costs to cover: 0.150%
Break-even: 25.0 days

Slippage unknown: Gate: live order book, 60 min ago; Injective: no order-book sample. 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 Gate live order book, 60 min ago	18.48 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 exchanges

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
QFEX NOW-USD	−0.0001%	1h	139.78	−0.114%	$1.1M	$1.4M	10x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	139.98	+0.029%	$519K	$258K	20x	as long as short
Gate NOW_USDTlong	0.0000%	8h	139.94	long leg	$240K	$333K	20x
Bitget NOWUSDT	0.0000%	8h	139.98	+0.029%	$816K	$285K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	140.02	+0.057%	$928	$266K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	140.01	+0.050%	$5K	$37K	20x	as long as short
Lighter NOW	+0.0032%	1h	139.95	+0.007%	$5K	$309	5x	as long as short
Injective NOW/USDC PERPshort	+0.0033%	1h	139.80	−0.100%	$3K	$101	12x
Vest NOW-USD-PERP	+0.0046%	1h	139.83	−0.079%	—	—	25x	as long as short
Aster NOWUSDT	+0.0085%	8h	139.95	+0.007%	$41K	$4K	20x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOWUSDTM	+0.0100%	8h	140.04	+0.071%	$310K	$766K	20x	as long as short
Binance NOWUSDT	+0.0185%	8h	140.00	+0.043%	$1.9M	$1.5M	20x	as long as short
BloFin NOW-USDT	+0.0193%	8h	140.08	+0.100%	$46K	$18K	20x	as long as short
Bybit NOWUSDT	+0.0333%	8h	139.97	+0.021%	$1.6M	$187K	25x	as long as short
tradeXYZ xyz:NOW	+0.0384%	1h	139.92	−0.014%	$2.1M	$243K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0401%	8h	140.21	+0.192%	$564	$120K	10x	as long as short