Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: QFEX against KuCoin−0.015%7-day average +0.033% · 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−$1,061as in the Price arb table

costs, in and out, $10k−$1,05610.561% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.039%+$4 on $10k

Price spread, last 4 days (all we have)−0.066%−$7 · spread now −0.015%, 7d avg +0.033%

Together, before fees−0.027%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and QFEX is 0.048% cheaper against KuCoin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.033%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NOWUSDTM	137.67	0.0100	pay 0.0100% / 8h	5h 25m	$316K	$644K	20x
Short	QFEX NOW-USD	137.65	0	get 0.0000% / 1h	25m 24s	$1.1M	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against KuCoin. 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 KuCoinbpFee QFEXbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$21
Price spread: −0.015% → +0.033%: −$4.8
Slippage, 4 orders: −$1,034.13
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$1,081.93
Costs to cover: 10.561%
Break-even: never at this rate

Slippage from KuCoin: live order book, 73 min ago; QFEX: live order book, 2 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 KuCoin live order book, 73 min ago	6.16 bp	327.1 bp −$327	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	2.18 bp	8.0 bp −$8	17.3 bp −$173	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
Aster NOWUSDT	0.0000%	8h	138.68	+0.731%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.78	+0.080%	$488K	$228K	20x	as long as short
QFEX NOW-USDshort	0.0000%	1h	137.65	−0.015%	$1.1M	$1.9M	10x
Gate NOW_USDT	0.0000%	8h	137.87	+0.145%	$248K	$370K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.84	+0.123%	$780K	$234K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	137.94	+0.196%	$833	$386K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.02	+0.254%	$5K	$31K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.80	+0.094%	$5K	$178	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.547%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.64	−0.022%	—	—	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOWUSDTMlong	+0.0100%	8h	137.67	long leg	$316K	$644K	20x
Bybit NOWUSDT	+0.0201%	8h	137.85	+0.131%	$1.6M	$4.9M	25x	as long as short
Binance NOWUSDT	+0.0211%	8h	137.86	+0.138%	$1.8M	$1.4M	20x	as long as short
BloFin NOW-USDT	+0.0213%	8h	137.90	+0.167%	$46K	$17K	20x	as long as short
tradeXYZ xyz:NOW	+0.0403%	1h	137.71	+0.029%	$2.1M	$229K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0583%	8h	137.92	+0.182%	$177	$151K	10x	as long as short