Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0201%/8h= −22.1% APRpaid last 24h −0.050%

Price spread now: Bybit against tradeXYZ+0.131%7-day average +0.066% · you sell dearer than you buy

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

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.273%−$27 on $10k

Price spread, last 7 days−0.079%−$8 · spread now +0.131%, 7d avg +0.066%

Together, before fees−0.351%+ Points / potential airdroptradeXYZ: Active · farm board−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.065% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.131% now, against its 7-day average of +0.066%): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:NOW	137.67	0.0403	pay 0.0050% / 1h	25m 35s	$2.1M	$229K	10x
Short	Bybit NOWUSDT	137.85	0.0201	get 0.0201% / 8h	5h 25m	$1.6M	$4.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against tradeXYZ. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 tradeXYZbpFee BybitbpOrdersPrice spread, now +0.131%Rate

Funding earned: −$42.31
Price spread: +0.131% → +0.066%: $6.45
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$64.86
Costs to cover: 0.290%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 1 min ago; Bybit: live order book, 2 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 tradeXYZ live order book, 1 min ago	3.27 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.81 bp	62.7 bp −$63	157.2 bp −$1,572	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	138.68	+0.732%	$41K	$995	20x	as long as short
OKX NOW-USDT-SWAP	0.0000%	8h	137.78	+0.080%	$488K	$228K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	137.65	−0.015%	$1.1M	$1.9M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	137.87	+0.145%	$248K	$370K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	137.84	+0.123%	$780K	$234K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	137.94	+0.196%	$833	$386K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	138.02	+0.254%	$5K	$31K	20x	as long as short
Lighter NOW	+0.0032%	1h	137.80	+0.094%	$5K	$178	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+1.547%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	137.71	+0.029%	—	—	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	137.68	+0.007%	$316K	$644K	20x	as long as short
Bybit NOWUSDTshort	+0.0201%	8h	137.85	+0.131%	$1.6M	$4.9M	25x
Binance NOWUSDT	+0.0211%	8h	137.86	+0.138%	$1.8M	$1.4M	20x	as long as short
BloFin NOW-USDT	+0.0213%	8h	137.90	+0.167%	$46K	$17K	20x	as long as short
tradeXYZ xyz:NOWlong	+0.0403%	1h	137.67	long leg	$2.1M	$229K	10x
GRVT NOW_USDT_Perp	+0.0581%	8h	137.96	+0.211%	$200	$151K	10x	as long as short