Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0143%/8h= −15.7% APRpaid last 24h −0.045%

Price spread now: Bybit against tradeXYZ+0.094%7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$186as in the Funding arb table

Net, price: spread back to 7d avg − costs−$156as in the Price arb table

costs, in and out, $10k−$1591.593% of the position

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.267%−$27 on $10k

Price spread, last 7 days−0.080%−$8 · spread now +0.094%, 7d avg +0.064%

Together, before fees−0.347%+ Points / potential airdroptradeXYZ: Active · farm board−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.030% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.094% now, against its 7-day average of +0.064%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:NOW	138.02	0.0213	pay 0.0027% / 1h	58m 56s	$2.1M	$231K	10x
Short	Bybit NOWUSDT	138.15	0.0070	get 0.0070% / 8h	6h 58m	$1.5M	$5.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against tradeXYZ. 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 tradeXYZbpFee BybitbpOrdersPrice spread, now +0.094%Rate

Funding earned: −$30.04
Price spread: +0.094% → +0.064%: $3.04
Slippage, 4 orders: −$130.32
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$186.32
Costs to cover: 1.593%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 9 min ago; Bybit: live order book, 4 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 tradeXYZ live order book, 9 min ago	3.26 bp	30.0 bp −$30	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	9.41 bp	70.1 bp −$70	159.3 bp −$1,593	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	138.52	+0.361%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	138.11	+0.065%	$498K	$212K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.93	−0.065%	$1.1M	$2.1M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	138.14	+0.087%	$245K	$368K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	138.19	+0.123%	$781K	$236K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	138.19	+0.123%	$1K	$410K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.25	+0.167%	$5K	$29K	20x	as long as short
Lighter NOW	+0.0032%	1h	138.02	0.000%	$5K	$173	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.290%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	138.05	+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
Bybit NOWUSDTshort	+0.0070%	8h	138.15	+0.094%	$1.5M	$5.7M	25x
KuCoin NOWUSDTM	+0.0100%	8h	138.05	+0.022%	$317K	$658K	20x	as long as short
Binance NOWUSDT	+0.0103%	8h	138.15	+0.094%	$1.8M	$1.5M	20x	as long as short
BloFin NOW-USDT	+0.0107%	8h	138.06	+0.029%	$45K	$17K	20x	as long as short
tradeXYZ xyz:NOWlong	+0.0213%	1h	138.02	long leg	$2.1M	$231K	10x
GRVT NOW_USDT_Perp	+0.0910%	8h	138.24	+0.159%	$223	$157K	10x	as long as short