Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Bitget−0.072%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$161as in the Funding arb table

Net, price: spread back to 7d avg − costs−$172as in the Price arb table

costs, in and out, $10k−$1611.612% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.117%+$12 · spread now −0.072%, 7d avg +0.034%

Together, before fees+0.118%+$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.106% cheaper against Bitget than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NOWUSDT	138.54	0	get 0.0000% / 8h	7h 32m	$771K	$243K	20x
Short	Bybit NOWUSDT	138.44	0	get 0.0000% / 8h	7h 32m	$1.5M	$5.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now −0.072%Rate

Funding earned: $0
Price spread: −0.072% → +0.034%: −$10.64
Slippage, 4 orders: −$138.19
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$171.83
Costs to cover: 1.612%
Break-even: never at this rate

Slippage from Bitget: live order book, 38 min ago; Bybit: 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 Bitget live order book, 38 min ago	1.81 bp	16.4 bp −$16	26.5 bp −$265	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	3.61 bp	58.7 bp −$59	166.6 bp −$1,666	doesn't fit	doesn't fit

NOW on 16 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
BloFin NOW-USDT	−0.0004%	8h	138.51	−0.022%	$46K	$17K	20x	as long as short
Aster NOWUSDT	0.0000%	8h	138.39	−0.107%	$41K	$995	20x	as long as short
Binance NOWUSDT	0.0000%	8h	138.58	+0.029%	$1.8M	$1.5M	20x	as long as short
Bybit NOWUSDTshort	0.0000%	8h	138.44	−0.072%	$1.5M	$5.7M	25x
OKX NOW-USDT-SWAP	0.0000%	8h	138.58	+0.029%	$501K	$211K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	138.26	−0.202%	$1.1M	$2.1M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	138.29	−0.180%	$246K	$374K	20x	as long as short
Bitget NOWUSDTlong	0.0000%	8h	138.54	long leg	$771K	$243K	20x
SunX NOW-USDT	0.0000%	8h	138.48	−0.043%	$849	$425K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.48	−0.043%	$5K	$28K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter NOW	+0.0032%	1h	138.32	−0.159%	$5K	$173	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+0.909%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	138.31	−0.166%	—	—	25x	as long as short
KuCoin NOWUSDTM	+0.0100%	8h	138.28	−0.188%	$318K	$666K	20x	as long as short
tradeXYZ xyz:NOW	+0.0198%	1h	138.37	−0.123%	$2.1M	$231K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0244%	8h	138.04	−0.362%	$290	$164K	10x	as long as short