Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: QFEX against OKX−0.210%7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$580.583% of the position

Long on OKX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.130%+$13 · spread now −0.210%, 7d avg −0.056%

Together, before fees+0.130%+$13 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: QFEX is 0.155% cheaper against OKX than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NOW-USDT-SWAP	138.05	0	get 0.0000% / 8h	5h 52m	$489K	$228K	20x
Short	QFEX NOW-USD	137.76	0	get 0.0000% / 1h	52m 08s	$1.1M	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.210%Rate

Funding earned: $0
Price spread: −0.210% → −0.056%: −$15.45
Slippage, 4 orders: −$38.31
Fee OKX: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$73.77
Costs to cover: 0.583%
Break-even: never at this rate

Slippage from OKX: live order book, 9 min ago; QFEX: live order book, 10 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, 9 min ago	9.43 bp	19.1 bp −$19	1487.9 bp −$14.9K	doesn't fit	doesn't fit
Sell QFEX live order book, 10 min ago	2.18 bp	9.0 bp −$9	17.5 bp −$175	doesn't fit	doesn't fit

NOW on 15 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	138.71	+0.476%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAPlong	0.0000%	8h	138.05	long leg	$489K	$228K	20x
QFEX NOW-USDshort	0.0000%	1h	137.76	−0.210%	$1.1M	$1.9M	10x
Gate NOW_USDT	0.0000%	8h	137.97	−0.058%	$245K	$365K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.94	−0.080%	$781K	$234K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	137.95	−0.072%	$895	$387K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	137.96	−0.065%	$5K	$30K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.90	−0.109%	$5K	$178	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.268%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.77	−0.203%	—	—	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOWUSDTM	+0.0100%	8h	137.72	−0.239%	$318K	$647K	20x	as long as short
Binance NOWUSDT	+0.0171%	8h	137.98	−0.054%	$1.8M	$1.4M	20x	as long as short
Bybit NOWUSDT	+0.0222%	8h	137.93	−0.087%	$1.6M	$4.9M	25x	as long as short
tradeXYZ xyz:NOW	+0.0410%	1h	137.83	−0.159%	$2.1M	$229K	10x	as long as short
GRVT NOW_USDT_Perp	+0.0588%	8h	137.98	−0.051%	$280	$152K	10x	as long as short