Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0336%/8h= +36.8% APRpaid last 24h +0.047%

Price spread now: tradeXYZ against SunX−0.152%7-day average −0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$218as in the Funding arb table

Net, price: spread back to 7d avg − costs−$254as in the Price arb table

costs, in and out, $10k−$2452.455% of the position

Long on SunX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.270%+$27 on $10k

Price spread, last 3 days (all we have)−0.027%−$3 · spread now −0.152%, 7d avg −0.070%

Together, before fees+0.243%+ Points / potential airdroptradeXYZ: Active · farm board+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.083% cheaper against SunX than usual: you would sell low and buy high (spread −0.152% now, against its 7-day average of −0.070%). If the spread goes back, that is −$8 on $10k: about 20 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.270% in total) that is about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NOW-USDT	138.05	0	get 0.0000% / 8h	6h 13m	$947	$401K	10x
Short	tradeXYZ xyz:NOW	137.84	0.0336	get 0.0042% / 1h	13m 05s	$2.1M	$229K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.152%Rate

Funding earned: $70.64
Price spread: −0.152% → −0.070%: −$8.25
Slippage, 4 orders: −$219.45
Fee SunX: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$183.06
Costs to cover: 2.455%
Break-even: 25.1 days

Slippage from SunX: live order book, 28 min ago; tradeXYZ: live order book, 5 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 SunX live order book, 28 min ago	81.14 bp	99.4 bp −$99	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 5 min ago	3.26 bp	18.4 bp −$18	doesn't fit	doesn't fit	doesn't fit

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	138.83	+0.565%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.94	−0.080%	$488K	$227K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.79	−0.188%	$1.1M	$1.9M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	138.00	−0.036%	$245K	$372K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.96	−0.065%	$781K	$234K	20x	as long as short
SunX NOW-USDTlong	0.0000%	8h	138.05	long leg	$947	$401K	10x
HTX NOW-USDT	0.0000%	8h	138.03	−0.014%	$5K	$29K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.91	−0.101%	$5K	$178	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.268%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.81	−0.174%	—	—	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	137.82	−0.167%	$316K	$658K	20x	as long as short
Binance NOWUSDT	+0.0146%	8h	138.03	−0.014%	$1.8M	$1.5M	20x	as long as short
Bybit NOWUSDT	+0.0169%	8h	138.03	−0.014%	$1.6M	$5.1M	25x	as long as short
tradeXYZ xyz:NOWshort	+0.0336%	1h	137.84	−0.152%	$2.1M	$229K	10x
GRVT NOW_USDT_Perp	+0.0566%	8h	138.02	−0.025%	$305	$152K	10x	as long as short