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: Extended against Phemex+0.324%7-day average +0.171% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

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

Long on Phemex Short on Extended

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)−0.181%−$18 · spread now +0.324%, 7d avg +0.171%

Together, before fees−0.105%+ Points / potential airdropExtended: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Extended is 0.153% dearer against Phemex than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.171%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NAS100USDT	30,488.7	0	get 0.0000% / 4h	2h 56m	$1.4M	$171K	10x
Short	Extended TECH100m-USD	30,587.4	0.0032	get 0.0004% / 1h	56m 08s	$2.2M	$5.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.324%Rate

Funding earned: $6.72
Price spread: +0.324% → +0.171%: $15.26
Slippage, 4 orders: −$54.71
Fee Phemex: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$49.73
Costs to cover: 0.717%
Break-even: 58.8 days

Slippage from Phemex: live order book, 2 min ago; Extended: live order book, 3 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 Phemex live order book, 2 min ago	0.60 bp	46.6 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	0.65 bp	3.7 bp −$4	8.3 bp −$83	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	+0.275%	$102K	$38K	20x	as long as short
Gate NAS100_USDT	−0.0200%	8h	30,558.5	+0.229%	$1.8M	$3.6M	100x	as long as short
MEXC NAS100_USDT	−0.0099%	8h	30,588	+0.326%	$23.9M	$19.6M	200x	as long as short
OKX US100-USDT-SWAP	0.0000%	8h	30,561	+0.237%	$261K	$353K	20x	as long as short
Bitget NDX100USDT	0.0000%	8h	30,555	+0.217%	$3.5M	$619K	50x	as long as short
Bullet US100-USD	0.0000%	1h	30,588	+0.326%	$3K	$90K	10x	as long as short
Phemex NAS100USDTlong	0.0000%	4h	30,488.7	long leg	$1.4M	$171K	10x
QFEX US100-USD	+0.0001%	1h	30,586	+0.319%	$1.4M	$1.0M	30x	as long as short
Lighter US100	+0.0032%	1h	30,583	+0.309%	$3.9M	$91.6M	30x	as long as short
Extended TECH100m-USDshort	+0.0032%	1h	30,587.4	+0.324%	$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	+1.257%	—	$194.4M	50x	as long as short
Paradex US100-USD-PERP	+0.0050%	8h	30,580.9	+0.302%	—	—	5x	as long as short
Polymarket Perps NAS100-USD	+0.0050%	1h	30,586	+0.319%	$7.2M	$1.9M	50x	as long as short
Ondo Perps US100-USD.P	+0.0196%	1h	30,620	+0.430%	$6.0M	$8.7M	25x	as long as short
Kraken Futures PF_US100USD	+0.2428%	1h	30,644.6	+0.511%	$127K	$125K	20x	as long as short