Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0329%/8h= −36.0% APRpaid last 24h −0.058%

Price spread now: Gate against tradeXYZ+0.086%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$217as in the Funding arb table

Net, price: spread back to 7d avg − costs−$182as in the Price arb table

costs, in and out, $10k−$1901.896% of the position

Long on tradeXYZ Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.276%−$28 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now +0.086%, 7d avg +0.014%

Together, before fees−0.323%+ Points / potential airdroptradeXYZ: Active · farm board−$32 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.072% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.086% now, against its 7-day average of +0.014%): +$7 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 7 days (−0.276% in total) that is about 44 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:NOW	139.35	0.0329	pay 0.0041% / 1h	3m 10s	$2.1M	$236K	10x
Short	Gate NOW_USDT	139.47	0	get 0.0000% / 8h	3m 10s	$253K	$348K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against tradeXYZ. 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 tradeXYZbpFee GatebpOrdersPrice spread, now +0.086%Rate

Funding earned: −$69
Price spread: +0.086% → +0.014%: $7.18
Slippage, 4 orders: −$156.63
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$251.46
Costs to cover: 1.896%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 5 min ago; Gate: live order book, 32 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 tradeXYZ live order book, 5 min ago	3.94 bp	23.2 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 32 min ago	25.47 bp	35.5 bp −$35	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
OKX NOW-USDT-SWAP	0.0000%	8h	139.32	−0.022%	$507K	$252K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	139.25	−0.072%	$1.1M	$1.5M	10x	as long as short
Gate NOW_USDTshort	0.0000%	8h	139.47	+0.086%	$253K	$348K	20x
Bitget NOWUSDT	0.0000%	8h	139.39	+0.029%	$772K	$264K	20x	as long as short
SunX NOW-USDT	0.0000%	8h	139.64	+0.208%	$1K	$325K	10x	as long as short
HTX NOW-USDT	0.0000%	8h	139.70	+0.251%	$5K	$36K	20x	as long as short
Lighter NOW	+0.0032%	1h	139.41	+0.043%	$5K	$171	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+0.323%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	139.32	−0.022%	—	—	25x	as long as short
Aster NOWUSDT	+0.0072%	8h	139.84	+0.350%	$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	+0.079%	$317K	$654K	20x	as long as short
Binance NOWUSDT	+0.0148%	8h	139.55	+0.144%	$1.8M	$1.5M	20x	as long as short
BloFin NOW-USDT	+0.0175%	8h	139.56	+0.151%	$46K	$18K	20x	as long as short
Bybit NOWUSDT	+0.0178%	8h	139.54	+0.136%	$1.6M	$293K	25x	as long as short
GRVT NOW_USDT_Perp	+0.0276%	8h	139.56	+0.151%	$193	$139K	10x	as long as short
tradeXYZ xyz:NOWlong	+0.0329%	1h	139.35	long leg	$2.1M	$236K	10x