Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: QFEX against Gate−0.152%7-day average −0.044% · 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−$116as in the Price arb table

costs, in and out, $10k−$1061.055% of the position

Long on Gate 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 4 days (all we have)+0.089%+$9 · spread now −0.152%, 7d avg −0.044%

Together, before fees+0.089%+$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: QFEX is 0.107% cheaper against Gate than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NOW_USDT	138.43	0	get 0.0000% / 8h	2h 47m	$252K	$346K	20x
Short	QFEX NOW-USD	138.22	0	get 0.0000% / 1h	47m 55s	$1.1M	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.152%Rate

Funding earned: $0
Price spread: −0.152% → −0.044%: −$10.72
Slippage, 4 orders: −$80.5
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$116.23
Costs to cover: 1.055%
Break-even: never at this rate

Slippage from Gate: live order book, 62 min ago; QFEX: live order book, 4 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 Gate live order book, 62 min ago	24.61 bp	37.6 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	1.81 bp	14.0 bp −$14	22.8 bp −$228	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	138.58	+0.108%	$494K	$230K	20x	as long as short
QFEX NOW-USDshort	0.0000%	1h	138.22	−0.152%	$1.1M	$1.4M	10x
Gate NOW_USDTlong	0.0000%	8h	138.43	long leg	$252K	$346K	20x
Bitget NOWUSDT	0.0000%	8h	138.38	−0.036%	$767K	$254K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	138.50	+0.051%	$749	$367K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.57	+0.101%	$5K	$34K	20x	as long as short
Aster NOWUSDT	+0.0023%	8h	138.66	+0.168%	$41K	$995	20x	as long as short
Lighter NOW	+0.0032%	1h	138.33	−0.072%	$5K	$171	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+0.990%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	138.25	−0.130%	—	—	25x	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	138.22	−0.152%	$317K	$632K	20x	as long as short
BloFin NOW-USDT	+0.0195%	8h	138.52	+0.065%	$46K	$17K	20x	as long as short
Binance NOWUSDT	+0.0210%	8h	138.49	+0.041%	$1.8M	$1.4M	20x	as long as short
Bybit NOWUSDT	+0.0232%	8h	138.46	+0.022%	$1.6M	$2.4M	25x	as long as short
tradeXYZ xyz:NOW	+0.0284%	1h	138.33	−0.072%	$2.1M	$224K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0352%	8h	138.44	+0.007%	$226	$146K	10x	as long as short