Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.012%

Price spread now: SunX against Injective−1.323%61s7-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 SunX

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 SunX is 1.323% cheaper against Injective than usual: you would sell low and buy high (−$132 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 61 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	52m 20s	$3K	$101	12x
Short	SunX NOW-USDT	137.95	0	get 0.0000% / 8h	5h 52m	$895	$387K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −1.323%Rate

Funding earned: −$7
Price spread: −1.323% → 0.000%: −$132.33
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: −$147.35
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; SunX: live order book, 48 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 SunX live order book, 48 min ago	81.14 bp	100.3 bp −$100	doesn't fit	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 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	138.69	−0.795%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	138.05	−1.252%	$489K	$228K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.76	−1.459%	$1.1M	$1.9M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	137.97	−1.309%	$245K	$365K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.94	−1.330%	$781K	$234K	20x	as long as short
SunX NOW-USDTshort	0.0000%	8h	137.95	−1.323%	$895	$387K	10x
HTX NOW-USDT	0.0000%	8h	137.96	−1.316%	$5K	$30K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.90	−1.359%	$5K	$178	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	137.77	−1.452%	—	—	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	137.72	−1.488%	$318K	$647K	20x	as long as short
Binance NOWUSDT	+0.0171%	8h	137.97	−1.306%	$1.8M	$1.4M	20x	as long as short
Bybit NOWUSDT	+0.0222%	8h	137.93	−1.338%	$1.6M	$4.9M	25x	as long as short
tradeXYZ xyz:NOW	+0.0411%	1h	137.83	−1.409%	$2.1M	$229K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0588%	8h	137.98	−1.302%	$280	$152K	10x	as long as short