Funding arb · Price arb /

NAS100

RWAall NAS100 markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bullet against Phemex+0.040%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bullet is 0.040% dearer against Phemex than usual: you sell high and buy low, +$4 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NAS100USDT	30,501.7	0	get 0.0000% / 4h	3h 04m	$1.4M	$190K	10x
Short	Bullet US100-USD	30,514	0	get 0.0000% / 1h	4m 48s	$4K	$90K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Phemex. 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 PhemexbpFee BulletbpOrdersPrice spread, now +0.040%Rate

Funding earned: $0
Price spread: +0.040% → 0.000%: $4.04
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$15.96
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 3 min ago; Bullet: 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 Phemex live order book, 3 min ago	6.52 bp	23.2 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: 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.

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	−0.0212%	8h	30,502.6	+0.003%	$102K	$38K	20x	as long as short
Gate NAS100_USDT	−0.0200%	8h	30,499	−0.009%	$1.9M	$3.7M	100x	as long as short
MEXC NAS100_USDT	−0.0076%	8h	30,515	+0.044%	$26.3M	$20.0M	200x	as long as short
OKX US100-USDT-SWAP	0.0000%	8h	30,488	−0.045%	$262K	$375K	20x	as long as short
Bitget NDX100USDT	0.0000%	8h	30,530	+0.093%	$3.5M	$635K	50x	as long as short
Bullet US100-USDshort	0.0000%	1h	30,514	+0.040%	$4K	$90K	10x
Phemex NAS100USDTlong	0.0000%	4h	30,501.7	long leg	$1.4M	$190K	10x
QFEX US100-USD	+0.0002%	1h	30,513	+0.037%	$1.3M	$1.3M	30x	as long as short
Lighter US100	+0.0032%	1h	30,511	+0.031%	$3.9M	$99.2M	30x	as long as short
Extended TECH100m-USD	+0.0032%	1h	30,515.9	+0.046%	$2.0M	$5.8M	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	30,806.6	+1.000%	—	$202.9M	50x	as long as short
Paradex US100-USD-PERP	+0.0050%	8h	30,509.9	+0.027%	—	—	5x	as long as short
Polymarket Perps NAS100-USD	+0.0050%	1h	30,514	+0.040%	$7.2M	$1.9M	50x	as long as short
Ondo Perps US100-USD.P	+0.0122%	1h	30,528.3	+0.087%	$6.0M	$8.4M	25x	as long as short
Kraken Futures PF_US100USD	+0.2683%	1h	30,540	+0.126%	$137K	$137K	20x	as long as short