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: OKX against Gate−0.087%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$398as in the Funding arb table

Net, price: spread back to 7d avg − costs−$408as in the Price arb table

costs, in and out, $10k−$3983.976% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.248%+$25 · spread now −0.087%, 7d avg +0.013%

Together, before fees+0.248%+$25 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 0.100% cheaper against Gate than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NOW_USDT	137.90	0	get 0.0000% / 8h	5h 28m	$248K	$370K	20x
Short	OKX NOW-USDT-SWAP	137.78	0	get 0.0000% / 8h	5h 28m	$488K	$228K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Gate. 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 GatebpFee OKXbpOrdersPrice spread, now −0.087%Rate

Funding earned: $0
Price spread: −0.087% → +0.013%: −$9.96
Slippage, 4 orders: −$372.61
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$407.57
Costs to cover: 3.976%
Break-even: never at this rate

Slippage from Gate: live order book, 32 min ago; OKX: live order book, 32 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 Gate live order book, 32 min ago	21.01 bp	158.1 bp −$158	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 32 min ago	9.43 bp	17.6 bp −$18	1144.3 bp −$11.4K	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	138.59	+0.501%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAPshort	0.0000%	8h	137.78	−0.087%	$488K	$228K	20x
QFEX NOW-USD	0.0000%	1h	137.77	−0.094%	$1.1M	$1.9M	10x	as long as short
Gate NOW_USDTlong	0.0000%	8h	137.90	long leg	$248K	$370K	20x
Bitget NOWUSDT	0.0000%	8h	137.90	0.000%	$781K	$234K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	137.94	+0.029%	$833	$386K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.00	+0.073%	$5K	$30K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.85	−0.036%	$5K	$178	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.378%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.76	−0.102%	—	—	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOWUSDTM	+0.0100%	8h	137.76	−0.102%	$318K	$644K	20x	as long as short
Bybit NOWUSDT	+0.0196%	8h	137.89	−0.007%	$1.6M	$4.9M	25x	as long as short
Binance NOWUSDT	+0.0207%	8h	137.94	+0.026%	$1.8M	$1.4M	20x	as long as short
BloFin NOW-USDT	+0.0217%	8h	137.91	+0.007%	$46K	$17K	20x	as long as short
tradeXYZ xyz:NOW	+0.0406%	1h	137.76	−0.102%	$2.1M	$229K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0583%	8h	137.91	+0.011%	$200	$151K	10x	as long as short