Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0213%/8h= +23.3% APRpaid last 24h +0.045%

Price spread now: tradeXYZ against SunX−0.123%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs−$179as in the Price arb table

costs, in and out, $10k−$1741.739% of the position

Long on SunX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.267%+$27 on $10k

Price spread, last 3 days (all we have)−0.069%−$7 · spread now −0.123%, 7d avg −0.069%

Together, before fees+0.199%+ Points / potential airdroptradeXYZ: Active · farm board+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.054% cheaper against SunX than usual: you would sell low and buy high (spread −0.123% now, against its 7-day average of −0.069%). If the spread goes back, that is −$5 on $10k: about 20 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NOW-USDT	138.19	0	get 0.0000% / 8h	6h 59m	$1K	$410K	10x
Short	tradeXYZ xyz:NOW	138.02	0.0213	get 0.0027% / 1h	59m 02s	$2.1M	$231K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.123%Rate

Funding earned: $44.78
Price spread: −0.123% → −0.069%: −$5.37
Slippage, 4 orders: −$147.92
Fee SunX: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$134.51
Costs to cover: 1.739%
Break-even: 28.0 days

Slippage from SunX: live order book, 52 min ago; tradeXYZ: live order book, 9 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, 52 min ago	47.48 bp	65.5 bp −$65	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 9 min ago	3.26 bp	12.3 bp −$12	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	138.52	+0.237%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	138.11	−0.058%	$498K	$212K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.93	−0.188%	$1.1M	$2.1M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	138.14	−0.036%	$245K	$368K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	138.19	0.000%	$781K	$236K	20x	as long as short
SunX NOW-USDTlong	0.0000%	8h	138.19	long leg	$1K	$410K	10x
HTX NOW-USDT	0.0000%	8h	138.25	+0.043%	$5K	$29K	20x	as long as short
Lighter NOW	+0.0032%	1h	138.02	−0.123%	$5K	$173	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.165%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	138.05	−0.101%	—	—	25x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NOWUSDT	+0.0070%	8h	138.15	−0.029%	$1.5M	$5.7M	25x	as long as short
KuCoin NOWUSDTM	+0.0100%	8h	138.05	−0.101%	$317K	$658K	20x	as long as short
Binance NOWUSDT	+0.0103%	8h	138.15	−0.029%	$1.8M	$1.5M	20x	as long as short
BloFin NOW-USDT	+0.0107%	8h	138.06	−0.094%	$45K	$17K	20x	as long as short
tradeXYZ xyz:NOWshort	+0.0213%	1h	138.02	−0.123%	$2.1M	$231K	10x
GRVT NOW_USDT_Perp	+0.0910%	8h	138.24	+0.036%	$223	$157K	10x	as long as short