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% APRpaid last 24h 0.000%

Price spread now: QFEX against SunX−0.201%7-day average −0.102% · 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−$156as in the Price arb table

costs, in and out, $10k−$1461.465% of the position

Long on SunX 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)+0.019%+$2 · spread now −0.201%, 7d avg −0.102%

Together, before fees+0.019%+$2 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 0.099% cheaper against SunX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.102%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NOW-USDT	139.64	0	get 0.0000% / 8h	4m 50s	$1K	$325K	10x
Short	QFEX NOW-USD	139.36	0	get 0.0000% / 1h	4m 50s	$1.1M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against SunX. 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 SunXbpFee QFEXbpOrdersPrice spread, now −0.201%Rate

Funding earned: $0
Price spread: −0.201% → −0.102%: −$9.87
Slippage, 4 orders: −$128.46
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$156.33
Costs to cover: 1.465%
Break-even: never at this rate

Slippage from SunX: live order book, 46 min ago; QFEX: live order book, 2 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 SunX live order book, 46 min ago	45.55 bp	64.1 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	2.15 bp	9.5 bp −$10	19.7 bp −$197	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
OKX NOW-USDT-SWAP	0.0000%	8h	139.32	−0.229%	$507K	$252K	20x	as long as short
QFEX NOW-USDshort	0.0000%	1h	139.36	−0.201%	$1.1M	$1.5M	10x
Gate NOW_USDT	0.0000%	8h	139.44	−0.143%	$253K	$348K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	139.41	−0.165%	$772K	$264K	20x	as long as short
SunX NOW-USDTlong	0.0000%	8h	139.64	long leg	$1K	$325K	10x
HTX NOW-USDT	0.0000%	8h	139.32	−0.229%	$5K	$36K	20x	as long as short
Lighter NOW	+0.0032%	1h	139.41	−0.165%	$5K	$171	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+0.115%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	139.42	−0.158%	—	—	25x	as long as short
Aster NOWUSDT	+0.0070%	8h	139.84	+0.147%	$41K	$859	20x	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	139.46	−0.129%	$317K	$654K	20x	as long as short
Binance NOWUSDT	+0.0148%	8h	139.51	−0.090%	$1.8M	$1.5M	20x	as long as short
BloFin NOW-USDT	+0.0166%	8h	139.58	−0.043%	$46K	$18K	20x	as long as short
Bybit NOWUSDT	+0.0174%	8h	139.48	−0.115%	$1.6M	$293K	25x	as long as short
GRVT NOW_USDT_Perp	+0.0276%	8h	139.56	−0.057%	$193	$139K	10x	as long as short
tradeXYZ xyz:NOW	+0.0327%	1h	139.35	−0.208%	$2.1M	$236K	10x	as long as short