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= −0.1% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BloFin against Bybit+0.116%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 5 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: BloFin is 0.116% dearer against Bybit than usual: you sell high and buy low, +$12 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	Bybit NOWUSDT	138.31	0.0019	pay 0.0019% / 8h	7h 24m	$1.5M	$5.7M	25x
Short	BloFin NOW-USDT	138.47	0.0019	get 0.0019% / 8h	7h 24m	$45K	$17K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Bybit. 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 BybitbpFee BloFinbpOrdersPrice spread, now +0.116%Rate

Funding earned: −$0.1
Price spread: +0.116% → 0.000%: $11.57
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$11.54
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 min ago; BloFin: 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 Bybit live order book, 3 min ago	2.89 bp	32.3 bp −$32	143.6 bp −$1,436	doesn't fit	doesn't fit
Sell BloFin no order-book sample	—	—	—	—	—

BloFin: 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.

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
Aster NOWUSDT	0.0000%	8h	138.63	+0.232%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	138.44	+0.094%	$500K	$210K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	138.15	−0.116%	$1.1M	$2.1M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	138.38	+0.051%	$246K	$378K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	138.35	+0.029%	$770K	$243K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	138.45	+0.101%	$829	$425K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.44	+0.094%	$5K	$29K	20x	as long as short
BloFin NOW-USDTshort	+0.0019%	8h	138.47	+0.116%	$45K	$17K	20x
Bybit NOWUSDTlong	+0.0019%	8h	138.31	long leg	$1.5M	$5.7M	25x
Binance NOWUSDT	+0.0030%	8h	138.42	+0.078%	$1.8M	$1.5M	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	+0.007%	$5K	$173	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.077%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	138.18	−0.094%	—	—	25x	as long as short
KuCoin NOWUSDTM	+0.0100%	8h	138.20	−0.080%	$318K	$661K	20x	as long as short
tradeXYZ xyz:NOW	+0.0222%	1h	138.22	−0.065%	$2.1M	$231K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0842%	8h	138.48	+0.123%	$256	$163K	10x	as long as short