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Funding arb · Price arb /

NOW

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 02:00 UTC−0.0336%/8h= −36.8% APRnext payment −$0.42 per $10,000 · paid last 24h −0.047%
Price spread now: QFEX against tradeXYZ−0.036%7-day average −0.040% · 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−$64as in the Price arb table
costs, in and out, $10k−$640.645% of the position
Long on tradeXYZShort on QFEX
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.049%−$5 on $10k
Price spread, last 7 days−0.002%$0 · spread now −0.036%, 7d avg −0.040%
Together, before fees−0.051%+ Points / potential airdroptradeXYZ: Active · farm board−$5 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.040%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.049% in total (about -5.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.42 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongtradeXYZ xyz:NOW137.840.0336pay 0.0042% / 1h12m 55s$2.1M$229K10x
ShortQFEX NOW-USD137.790get 0.0000% / 1h12m 55s$1.1M$1.9M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

QFEX 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

Funding earned
−$70.64
Price spread: −0.036% → −0.040%
$0.38
Slippage, 4 orders
−$36.49
Fee tradeXYZ: 9 bp × 2 orders
−$18
Fee QFEX: 5 bp × 2 orders
−$10
Net
−$134.75
Costs to cover
0.645%
Break-even
never at this rate
Slippage from tradeXYZ: live order book, 5 min ago; QFEX: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy tradeXYZ live order book, 5 min ago3.26 bp27.4 bp −$27doesn't fitdoesn't fitdoesn't fit
Sell QFEX live order book, 4 min ago2.18 bp9.7 bp −$1016.6 bp −$166doesn't fitdoesn't fit

NOW on 15 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster NOWUSDT0.0000%8h138.83+0.718%$41K$99520xas long as short
OKX NOW-USDT-SWAP0.0000%8h137.94+0.073%$488K$227K20xas long as short
QFEX NOW-USDshort0.0000%1h137.79−0.036%$1.1M$1.9M10x
Gate NOW_USDT0.0000%8h138.00+0.116%$245K$372K20xas long as short
Bitget NOWUSDT0.0000%8h137.96+0.087%$781K$234K20xas long as short
SunX NOW-USDT0.0000%8h138.05+0.152%$947$401K10xas long as short
HTX NOW-USDT0.0000%8h138.03+0.138%$5K$29K20xas long as short
Lighter NOW+0.0032%1h137.91+0.051%$5K$1785xas long as short
Injective NOW/USDC PERP+0.0033%1h139.80+1.422%$3K$10112xas long as short
Vest NOW-USD-PERP+0.0046%1h137.81−0.022%——25xas long as short
Show all 15 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin NOWUSDTM+0.0100%8h137.82−0.015%$316K$658K20xas long as short
Binance NOWUSDT+0.0146%8h138.03+0.138%$1.8M$1.5M20xas long as short
Bybit NOWUSDT+0.0169%8h138.03+0.138%$1.6M$5.1M25xas long as short
tradeXYZ xyz:NOWlong+0.0336%1h137.84long leg$2.1M$229K10x
GRVT NOW_USDT_Perp+0.0566%8h138.02+0.127%$305$152K10xas long as short