Funding arb · Price arb /

NAS100

RWAall NAS100 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0200%/8h= +21.9% APRpaid last 24h +0.049%

Price spread now: Phemex against Gate−0.166%7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$840.841% of the position

Long on Gate Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.170%+$17 on $10k

Price spread, last 3 days (all we have)+0.173%+$17 · spread now −0.166%, 7d avg −0.071%

Together, before fees+0.343%+$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phemex is 0.095% cheaper against Gate than usual: you would sell low and buy high (spread −0.166% now, against its 7-day average of −0.071%). If the spread goes back, that is −$10 on $10k: about 38 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.170% in total) that is about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NAS100_USDT	30,515.2	−0.0200	get 0.0200% / 8h	7h 47m	$1.8M	$3.6M	100x
Short	Phemex NAS100USDT	30,464.6	0	get 0.0000% / 4h	3h 47m	$1.4M	$172K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Gate. 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 GatebpFee PhemexbpOrdersPrice spread, now −0.166%Rate

Funding earned: $42
Price spread: −0.166% → −0.071%: −$9.52
Slippage, 4 orders: −$57.08
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$51.6
Costs to cover: 0.841%
Break-even: 15.6 days

Slippage from Gate: live order book, 1 min ago; Phemex: live order book, 1 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 Gate live order book, 1 min ago	8.01 bp	17.9 bp −$18	104.5 bp −$1,045	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	1.79 bp	18.8 bp −$19	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	−0.0216%	8h	30,572.2	+0.187%	$102K	$38K	20x	as long as short
Gate NAS100_USDTlong	−0.0200%	8h	30,515.2	long leg	$1.8M	$3.6M	100x
MEXC NAS100_USDT	−0.0104%	8h	30,584	+0.225%	$22.6M	$19.3M	200x	as long as short
OKX US100-USDT-SWAP	0.0000%	8h	30,560	+0.147%	$261K	$357K	20x	as long as short
Bitget NDX100USDT	0.0000%	8h	30,548	+0.107%	$3.5M	$667K	50x	as long as short
Bullet US100-USD	0.0000%	1h	30,585	+0.229%	$3K	$90K	10x	as long as short
Phemex NAS100USDTshort	0.0000%	4h	30,464.6	−0.166%	$1.4M	$172K	10x
QFEX US100-USD	+0.0002%	1h	30,585	+0.229%	$1.4M	$976K	30x	as long as short
Lighter US100	+0.0032%	1h	30,580	+0.212%	$3.9M	$92.5M	30x	as long as short
Extended TECH100m-USD	+0.0032%	1h	30,583.3	+0.223%	$2.1M	$5.5M	20x	as long as short

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	30,867.5	+1.154%	—	$193.9M	50x	as long as short
Paradex US100-USD-PERP	+0.0050%	8h	30,575.9	+0.199%	—	—	5x	as long as short
Polymarket Perps NAS100-USD	+0.0050%	1h	30,583	+0.222%	$7.2M	$1.9M	50x	as long as short
Ondo Perps US100-USD.P	+0.0188%	1h	30,596.5	+0.267%	$6.0M	$8.8M	25x	as long as short
Kraken Futures PF_US100USD	+0.2935%	1h	30,620.3	+0.344%	$124K	$122K	20x	as long as short