set listchars=tab:▸\ ,eol:¬,trail:~,extends:>,precedes:<,nbsp:•
highlight NonText guifg=#4a4a59
highlight SpecialKey guifg=white guibg=#cc0000
There was vimcast about it:
I use this to match the way TextMate does it:
Since I'm using solarized color set they all come through as having a very noticeable red background, so I can avoid trailing spaces and odd tabs.