Funding arb · Price arb /

NOW

RWAall NOW markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0369%/8h= −40.4% APRpaid last 24h −0.058%

Price spread now: SunX against tradeXYZ+0.101%7-day average +0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$193as in the Funding arb table

Net, price: spread back to 7d avg − costs−$162as in the Price arb table

costs, in and out, $10k−$1651.651% of the position

Long on tradeXYZ Short on SunX

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)+0.079%+$8 · spread now +0.101%, 7d avg +0.071%

Together, before fees−0.197%+ Points / potential airdroptradeXYZ: Active · farm board−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.029% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.101% now, against its 7-day average of +0.071%): +$3 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.276% in total) that is about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:NOW	139.28	0.0369	pay 0.0046% / 1h	31m 21s	$2.1M	$238K	10x
Short	SunX NOW-USDT	139.42	0	get 0.0000% / 8h	31m 21s	$938	$329K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.101%Rate

Funding earned: −$77.44
Price spread: +0.101% → +0.071%: $2.92
Slippage, 4 orders: −$139.1
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee SunX: 4 bp × 2 orders: −$8
Net: −$239.62
Costs to cover: 1.651%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 6 min ago; SunX: live order book, 19 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, 6 min ago	2.87 bp	17.1 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 19 min ago	45.55 bp	64.8 bp −$65	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	139.50	+0.158%	$507K	$252K	20x	as long as short
QFEX NOW-USD	0.0000%	1h	139.26	−0.014%	$1.1M	$1.5M	10x	as long as short
Gate NOW_USDT	0.0000%	8h	139.31	+0.022%	$253K	$346K	20x	as long as short
Bitget NOWUSDT	0.0000%	8h	139.37	+0.065%	$770K	$263K	20x	as long as short
SunX NOW-USDTshort	0.0000%	8h	139.42	+0.101%	$938	$329K	10x
HTX NOW-USDT	0.0000%	8h	139.38	+0.072%	$5K	$36K	20x	as long as short
Lighter NOW	+0.0032%	1h	139.35	+0.050%	$5K	$171	5x	as long as short
Injective NOW/USDC PERP	+0.0033%	1h	139.80	+0.373%	$3K	$101	12x	as long as short
Vest NOW-USD-PERP	+0.0046%	1h	139.31	+0.022%	—	—	25x	as long as short
Aster NOWUSDT	+0.0074%	8h	140.30	+0.731%	$42K	$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	139.40	+0.086%	$317K	$641K	20x	as long as short
BloFin NOW-USDT	+0.0159%	8h	139.35	+0.050%	$46K	$18K	20x	as long as short
Binance NOWUSDT	+0.0161%	8h	139.42	+0.101%	$1.8M	$1.5M	20x	as long as short
Bybit NOWUSDT	+0.0161%	8h	139.31	+0.022%	$1.6M	$294K	25x	as long as short
GRVT NOW_USDT_Perp	+0.0284%	8h	139.40	+0.086%	$245	$139K	10x	as long as short
tradeXYZ xyz:NOWlong	+0.0369%	1h	139.28	long leg	$2.1M	$238K	10x