Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0136%/8h= −14.9% APRpaid last 24h 0.000%

Price spread now: QFEX against Binance−0.186%7-day average −0.120% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$380.384% of the position

Long on Binance Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 2 days (all we have)−0.066%−$7 · spread now −0.186%, 7d avg −0.120%

Together, before fees−0.066%−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and QFEX is 0.065% cheaper against Binance than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.120%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NOWUSDT	138.05	0.0136	pay 0.0136% / 8h	6h 17m	$1.8M	$1.5M	20x
Short	QFEX NOW-USD	137.79	0	get 0.0000% / 1h	17m 37s	$1.1M	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Binance. 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 BinancebpFee QFEXbpOrdersPrice spread, now −0.186%Rate

Funding earned: −$28.48
Price spread: −0.186% → −0.120%: −$6.54
Slippage, 4 orders: −$18.35
Fee Binance: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$73.38
Costs to cover: 0.384%
Break-even: never at this rate

Slippage from Binance: live order book, 16 min ago; QFEX: 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 Binance live order book, 16 min ago	0.73 bp	9.3 bp −$9	54.3 bp −$543	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	2.18 bp	8.2 bp −$8	15.2 bp −$152	doesn't fit	doesn't fit

NOW 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
Aster NOWUSDT	0.0000%	8h	138.61	+0.405%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.94	−0.077%	$488K	$227K	20x	as long as short
QFEX NOW-USDshort	0.0000%	1h	137.79	−0.186%	$1.1M	$1.9M	10x
Gate NOW_USDT	0.0000%	8h	137.97	−0.055%	$245K	$371K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.96	−0.062%	$781K	$234K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	138.00	−0.033%	$1K	$401K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	137.88	−0.120%	$5K	$29K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.90	−0.106%	$5K	$178	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.271%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.80	−0.178%	—	—	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOWUSDTM	+0.0100%	8h	137.83	−0.157%	$316K	$657K	20x	as long as short
Binance NOWUSDTlong	+0.0136%	8h	138.05	long leg	$1.8M	$1.5M	20x
Bybit NOWUSDT	+0.0148%	8h	137.99	−0.041%	$1.6M	$5.1M	25x	as long as short
tradeXYZ xyz:NOW	+0.0318%	1h	137.82	−0.164%	$2.1M	$229K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0552%	8h	137.93	−0.083%	$559	$154K	10x	as long as short