Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: OKX against Bybit+0.029%7-day average −0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$132as in the Funding arb table

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$1321.319% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 3 days (all we have)−0.045%−$4 · spread now +0.029%, 7d avg −0.042%

Together, before fees−0.045%−$5 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: OKX is 0.071% dearer against Bybit than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NOWUSDT	137.45	0	get 0.0000% / 8h	4h 23m	$1.5M	$5.8M	25x
Short	OKX NOW-USDT-SWAP	137.49	0	get 0.0000% / 8h	4h 23m	$480K	$209K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.029%Rate

Funding earned: $0
Price spread: +0.029% → −0.042%: $7.11
Slippage, 4 orders: −$110.9
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$124.78
Costs to cover: 1.319%
Break-even: never at this rate

Slippage from Bybit: live order book, 8 min ago; OKX: live order book, 6 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 Bybit live order book, 8 min ago	6.91 bp	50.0 bp −$50	159.8 bp −$1,598	doesn't fit	doesn't fit
Sell OKX live order book, 6 min ago	5.82 bp	15.8 bp −$16	797.6 bp −$7,976	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
Aster NOWUSDT	0.0000%	8h	137.39	−0.042%	$41K	$995	20x	as long as short
Binance NOWUSDT	0.0000%	8h	137.45	−0.002%	$1.6M	$1.3M	20x	as long as short
Bybit NOWUSDTlong	0.0000%	8h	137.45	long leg	$1.5M	$5.8M	25x
OKX NOW-USDT-SWAPshort	0.0000%	8h	137.49	+0.029%	$480K	$209K	20x
QFEX NOW-USD	0.0000%	1h	137.29	−0.116%	$1.1M	$2.0M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	137.39	−0.044%	$248K	$411K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.37	−0.058%	$747K	$286K	20x	as long as short
GRVT NOW_USDT_Perp	0.0000%	8h	137.54	+0.062%	$230	$165K	10x	as long as short
SunX NOW-USDT	0.0000%	8h	137.44	−0.007%	$767	$473K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	137.72	+0.196%	$5K	$23K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin NOW-USDT	+0.0025%	8h	137.64	+0.138%	$46K	$16K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.38	−0.051%	$5K	$242	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.710%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.32	−0.095%	—	—	25x	as long as short
KuCoin NOWUSDTM	+0.0100%	8h	137.22	−0.167%	$317K	$790K	20x	as long as short
tradeXYZ xyz:NOW	+0.0198%	1h	137.37	−0.058%	$2.1M	$192K	10x	as long as short