Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.012%

Price spread now: Bitget against Injective−0.629%71s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Bitget

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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 0.629% cheaper against Injective than usual: you would sell low and buy high (−$63 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 71 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	Injective NOW/USDC PERP	139.80	0.0033	pay 0.0004% / 1h	46m 12s	$3K	$101	12x
Short	Bitget NOWUSDT	138.92	0	get 0.0000% / 8h	1h 46m	$770K	$254K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. 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 InjectivebpFee BitgetbpOrdersPrice spread, now −0.629%Rate

Funding earned: −$7
Price spread: −0.629% → 0.000%: −$62.95
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$81.97
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Bitget: live order book, 59 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 Injective no order-book sample	—	—	—	—	—
Sell Bitget live order book, 59 min ago	2.17 bp	25.1 bp −$25	36.2 bp −$362	doesn't fit	doesn't fit

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 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	139.05	−0.536%	$496K	$232K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	138.91	−0.637%	$1.1M	$1.4M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	138.92	−0.629%	$253K	$346K	20x	as long as short
Bitget NOWUSDTshort	0.0000%	8h	138.92	−0.629%	$770K	$254K	20x
SunX NOW-USDT	0.0000%	8h	139.06	−0.529%	$925	$348K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	139.22	−0.415%	$5K	$36K	20x	as long as short
Lighter NOW	+0.0032%	1h	138.87	−0.665%	$5K	$171	5x	as long as short
Injective NOW/USDC PERPlong	+0.0033%	1h	139.80	long leg	$3K	$101	12x
Vest NOW-USD-PERP	+0.0046%	1h	138.95	−0.608%	—	—	25x	as long as short
Aster NOWUSDT	+0.0066%	8h	139.15	−0.466%	$41K	$995	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	138.84	−0.687%	$320K	$632K	20x	as long as short
tradeXYZ xyz:NOW	+0.0170%	1h	138.91	−0.637%	$2.1M	$228K	10x	as long as short
BloFin NOW-USDT	+0.0193%	8h	138.97	−0.594%	$46K	$18K	20x	as long as short
Binance NOWUSDT	+0.0206%	8h	139.07	−0.522%	$1.8M	$1.5M	20x	as long as short
Bybit NOWUSDT	+0.0212%	8h	138.90	−0.644%	$1.6M	$1.4M	25x	as long as short
GRVT NOW_USDT_Perp	+0.0304%	8h	138.98	−0.587%	$374	$143K	10x	as long as short