Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.012%

Price spread now: Bitget against Injective−1.338%91s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 1.338% cheaper against Injective than usual: you would sell low and buy high (−$134 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 91 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective NOW/USDC PERP	139.80	0.0033	pay 0.0004% / 1h	7m 57s	$3K	$101	12x
Short	Bitget NOWUSDT	137.93	0	get 0.0000% / 8h	5h 07m	$781K	$234K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. 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 InjectivebpFee BitgetbpOrdersPrice spread, now −1.338%Rate

Funding earned: −$7
Price spread: −1.338% → 0.000%: −$133.76
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$152.78
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Bitget: live order book, 53 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Bitget live order book, 53 min ago	5.07 bp	29.8 bp −$30	44.8 bp −$448	doesn't fit	doesn't fit

Injective: 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	138.25	−1.110%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.99	−1.295%	$492K	$232K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.82	−1.416%	$1.1M	$1.8M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	137.96	−1.316%	$248K	$371K	20x	as long as short
Bitget NOWUSDTshort	0.0000%	8h	137.93	−1.338%	$781K	$234K	20x
SunX NOW-USDT	0.0000%	8h	137.92	−1.345%	$552	$386K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	137.97	−1.309%	$5K	$31K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.84	−1.402%	$5K	$178	5x	as long as short
Injective NOW/USDC PERPlong	+0.0033%	1h	139.80	long leg	$3K	$101	12x
Vest NOW-USD-PERP	+0.0046%	1h	137.82	−1.416%	—	—	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	137.73	−1.481%	$318K	$634K	20x	as long as short
BloFin NOW-USDT	+0.0182%	8h	138.06	−1.245%	$229	$17K	20x	as long as short
Bybit NOWUSDT	+0.0203%	8h	137.94	−1.330%	$1.6M	$4.8M	25x	as long as short
Binance NOWUSDT	+0.0208%	8h	137.97	−1.309%	$1.8M	$1.4M	20x	as long as short
tradeXYZ xyz:NOW	+0.0351%	1h	137.83	−1.409%	$2.1M	$229K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0548%	8h	137.91	−1.352%	$717	$150K	10x	as long as short