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: Gate against OKX−0.123%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$244as in the Funding arb table

Net, price: spread back to 7d avg − costs−$255as in the Price arb table

costs, in and out, $10k−$2442.437% of the position

Long on OKX Short on Gate

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)+0.094%+$9 · spread now −0.123%, 7d avg −0.011%

Together, before fees+0.094%+$9 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: Gate is 0.112% cheaper against OKX than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NOW-USDT-SWAP	138.09	0	get 0.0000% / 8h	7h 52m	$498K	$207K	20x
Short	Gate NOW_USDT	137.92	0	get 0.0000% / 8h	7h 52m	$250K	$364K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against OKX. 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 OKXbpFee GatebpOrdersPrice spread, now −0.123%Rate

Funding earned: $0
Price spread: −0.123% → −0.011%: −$11.22
Slippage, 4 orders: −$218.69
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$254.91
Costs to cover: 2.437%
Break-even: never at this rate

Slippage from OKX: live order book, 18 min ago; Gate: live order book, 18 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 OKX live order book, 18 min ago	5.44 bp	24.9 bp −$25	1782.0 bp −$17.8K	doesn't fit	doesn't fit
Sell Gate live order book, 18 min ago	16.32 bp	77.5 bp −$78	doesn't fit	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	137.92	−0.120%	$41K	$995	20x	as long as short
Binance NOWUSDT	0.0000%	8h	137.95	−0.100%	$1.6M	$1.3M	20x	as long as short
OKX NOW-USDT-SWAPlong	0.0000%	8h	138.09	long leg	$498K	$207K	20x
QFEX NOW-USD	0.0000%	1h	137.78	−0.224%	$1.1M	$2.1M	10x	as long as short
Gate NOW_USDTshort	0.0000%	8h	137.92	−0.123%	$250K	$364K	20x
Bitget NOWUSDT	0.0000%	8h	137.87	−0.159%	$765K	$230K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	137.99	−0.072%	$922	$431K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	137.69	−0.290%	$5K	$28K	20x	as long as short
BloFin NOW-USDT	+0.0027%	8h	137.94	−0.109%	$45K	$17K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.91	−0.130%	$5K	$173	5x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.238%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.79	−0.217%	—	—	25x	as long as short
KuCoin NOWUSDTM	+0.0100%	8h	137.69	−0.290%	$317K	$674K	20x	as long as short
Bybit NOWUSDT	+0.0189%	8h	137.91	−0.130%	$1.5M	$5.7M	25x	as long as short
tradeXYZ xyz:NOW	+0.0190%	1h	137.83	−0.188%	$2.1M	$201K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0467%	8h	137.92	−0.124%	$370	$165K	10x	as long as short