Funding arb · Price arb /

NAS100

RWAall NAS100 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: Phemex against Extended−0.323%7-day average −0.171% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$720.717% of the position

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$8 on $10k

Price spread, last 3 days (all we have)+0.180%+$18 · spread now −0.323%, 7d avg −0.171%

Together, before fees+0.104%+ Points / potential airdropExtended: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.152% cheaper against Extended than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.171%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended TECH100m-USD	30,587.4	0.0032	pay 0.0004% / 1h	56m 06s	$2.2M	$5.6M	20x
Short	Phemex NAS100USDT	30,488.7	0	get 0.0000% / 4h	2h 56m	$1.4M	$171K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now −0.323%Rate

Funding earned: −$6.72
Price spread: −0.323% → −0.171%: −$15.16
Slippage, 4 orders: −$54.71
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$93.59
Costs to cover: 0.717%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; Phemex: 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 Extended live order book, 3 min ago	0.65 bp	4.0 bp −$4	6.9 bp −$69	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	0.60 bp	17.4 bp −$17	doesn't fit	doesn't fit	doesn't fit

NAS100 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
Orderly PERP_NAS100_USDC	−0.0214%	8h	30,572.5	−0.049%	$102K	$38K	20x	as long as short
Gate NAS100_USDT	−0.0200%	8h	30,558.5	−0.095%	$1.8M	$3.6M	100x	as long as short
MEXC NAS100_USDT	−0.0099%	8h	30,588	+0.002%	$23.9M	$19.6M	200x	as long as short
OKX US100-USDT-SWAP	0.0000%	8h	30,561	−0.086%	$261K	$353K	20x	as long as short
Bitget NDX100USDT	0.0000%	8h	30,555	−0.106%	$3.5M	$619K	50x	as long as short
Bullet US100-USD	0.0000%	1h	30,588	+0.002%	$3K	$90K	10x	as long as short
Phemex NAS100USDTshort	0.0000%	4h	30,488.7	−0.323%	$1.4M	$171K	10x
QFEX US100-USD	+0.0001%	1h	30,586	−0.005%	$1.4M	$1.0M	30x	as long as short
Lighter US100	+0.0032%	1h	30,583	−0.014%	$3.9M	$91.6M	30x	as long as short
Extended TECH100m-USDlong	+0.0032%	1h	30,587.4	long leg	$2.2M	$5.6M	20x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NDX-USD-PERP	+0.0046%	1h	30,871.9	+0.930%	—	$194.4M	50x	as long as short
Paradex US100-USD-PERP	+0.0050%	8h	30,580.9	−0.021%	—	—	5x	as long as short
Polymarket Perps NAS100-USD	+0.0050%	1h	30,586	−0.005%	$7.2M	$1.9M	50x	as long as short
Ondo Perps US100-USD.P	+0.0196%	1h	30,620	+0.106%	$6.0M	$8.7M	25x	as long as short
Kraken Futures PF_US100USD	+0.2428%	1h	30,644.6	+0.187%	$127K	$125K	20x	as long as short