Funding arb · Price arb /

NOW

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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: Injective against SunX+0.215%61s7-day average — · you sell dearer than you buy

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

Long on SunX 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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Injective is 0.215% dearer against SunX than usual: you sell high and buy low: +$22 more if the spread goes back to zero (this spread has no 7-day history yet). 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	SunX NOW-USDT	139.50	0	get 0.0000% / 8h	1h 14m	$963	$337K	10x
Short	Injective NOW/USDC PERP	139.80	0.0033	get 0.0004% / 1h	14m 22s	$3K	$101	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against SunX. 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 SunXbpFee InjectivebpOrdersPrice spread, now +0.215%Rate

Funding earned: $7
Price spread: +0.215% → 0.000%: $21.51
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $20.49
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 46 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 SunX live order book, 46 min ago	46.06 bp	64.4 bp −$64	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 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	139.57	+0.050%	$498K	$247K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	139.25	−0.179%	$1.1M	$1.5M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	139.50	0.000%	$253K	$349K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	139.33	−0.122%	$769K	$260K	20x	as long as short
SunX NOW-USDTlong	0.0000%	8h	139.50	long leg	$963	$337K	10x
HTX NOW-USDT	0.0000%	8h	139.38	−0.086%	$5K	$36K	20x	as long as short
Lighter NOW	+0.0032%	1h	139.35	−0.108%	$5K	$171	5x	as long as short
Injective NOW/USDC PERPshort	+0.0033%	1h	139.80	+0.215%	$3K	$101	12x
Vest NOW-USD-PERP	+0.0046%	1h	139.31	−0.136%	—	—	25x	as long as short
Aster NOWUSDT	+0.0056%	8h	140.12	+0.443%	$42K	$859	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	139.34	−0.115%	$317K	$639K	20x	as long as short
tradeXYZ xyz:NOW	+0.0142%	1h	139.29	−0.151%	$2.1M	$234K	10x	as long as short
Bybit NOWUSDT	+0.0157%	8h	139.46	−0.029%	$1.6M	$831K	25x	as long as short
Binance NOWUSDT	+0.0174%	8h	139.45	−0.036%	$1.8M	$1.5M	20x	as long as short
BloFin NOW-USDT	+0.0195%	8h	139.45	−0.036%	$46K	$18K	20x	as long as short
GRVT NOW_USDT_Perp	+0.0264%	8h	139.48	−0.014%	$333	$142K	10x	as long as short