NIGHT · Convergence Trade
Current Spread (mark)
⚠ data may be stale · 4m old+0.004%higher than 69% of spread values(window 1D)
long $0.04690 · short $0.04690(long 1m / short 4m old)
Entry Spread (order book)-0.125%on $10,000
long $0.04708 · short $0.04702(average execution prices, not mark)
market median $0.04694· long -0.1%· short -0.1%
Size per leg$= $20,000 total
every figure below scales from thisProfit Calculator
This spread does not cover its own costs
The spread is 0.00%, but entry and exit cost 0.22% of the position. The trade is a loss at entry regardless of how the spread moves afterwards. Reduce the size, or pick another pair.
Three scenarios: the current spread 0.00% compresses to the target (0% = full convergence). Sized at $10,000 per leg.
| If spread converges to↓ target spread | 0% | 0.50% | 1.00% |
|---|---|---|---|
| Gross profit | +$0.43 | -$49.57 | -$99.57 |
| Round-trip fees | −$22.00 | −$22.00 | −$22.00 |
| Slippage(loading orderbook…) | — | — | — |
| Funding drag(est. 1h hold) | +$0.36 | +$0.36 | +$0.36 |
| Net potential | -$21.21 | -$71.21 | -$121.21 |
Breakeven move 0.2164%·Tradeability: 0.0× round-trip cost · do not trade — spread below breakeven
⏱ Hold time (estimated from history)
The current spread is already near its typical level (median 0.13%) — most of the convergence has happened, little potential left.
Estimate of historical spread behavior — not a guarantee of the future.
Spread Statistics
Window: 24h · 279 samples
Current
+0.004%
69 pct
Median
-0.067%
Average
-0.060%
P25 → P75
-0.159% … +0.041%
Range
-1.221% … +0.730%
Std dev
±0.229%
tf
LONG
OKX(cex)
OKX(cex)- Mark Price
- $0.04690
- Exchange Ticker
- NIGHT-USDT-SWAP
- Taker / Maker
- 0.05% / 0.02%
- Funding APR(4h)
- -40.69%
- OI
- $3.52M
- 24h Vol
- $7.90M
⚠ slippage not modeled (virtual liquidity / RFQ venue)
Trade LongSHORT
Hotcoin(cex)
Hotcoin(cex)- Mark Price
- $0.04690
- Exchange Ticker
- NIGHTUSDT
- Taker / Maker
- 0.06% / 0.02%
- Funding APR(4h)
- -9.02%
- OI
- $655.41K
- 24h Vol
- $2.34M
⚠ slippage not modeled (virtual liquidity / RFQ venue)
Trade Short259 long / 247 short samples · 2 days · auto-refresh every 30s