Funding arb · Price arb /

QNT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.040%

Price spread now: Bybit against Injective−1.609%88s7-day average −0.117% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.204%+$20 on $10k

Price spread, last 3 days (all we have)+0.891%+$89 · spread now −1.609%, 7d avg −0.117%

Together, before fees+1.095%+$109 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 1.492% cheaper against Injective than usual: you would sell low and buy high (spread −1.609% now, against its 7-day average of −0.117%). If the spread goes back, that is −$149 on $10k: about 2 months of funding at the current rate (+$2 a day). The two prices were read 88 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective QNT/USDC PERP	67.140	0.0033	pay 0.0004% / 1h	53m 46s	—	$115K	5.5x
Short	Bybit QNTUSDT	66.060	0.0100	get 0.0100% / 8h	6h 53m	$2.7M	$1.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee BybitbpOrdersPrice spread, now −1.609%Rate

Funding earned: $14
Price spread: −1.609% → −0.117%: −$149.21
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$146.23
Costs to cover: 0.110%
Break-even: 80.1 days

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 3 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	3.02 bp	46.7 bp −$47	174.1 bp −$1,741	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

QNT on 12 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
Kraken Futures PF_QNTUSD	−0.0238%	1h	66.125	−1.512%	$38K	$64K	10x	as long as short
gTrade (Gains Network) QNT/USD	L +0.0001% / S +0.0010%	1h	66.031	−1.652%	$135	—	150x	as long as short
Variational Omni QNT	+0.0021%	8h	66.140	−1.490%	$58K	$114K	—	as long as short
Injective QNT/USDC PERPlong	+0.0033%	1h	67.140	long leg	—	$115K	5.5x
Binance QNTUSDT	+0.0100%	8h	66.105	−1.541%	$3.8M	$6.9M	75x	as long as short
Bybit QNTUSDTshort	+0.0100%	8h	66.060	−1.609%	$2.7M	$1.5M	75x
Gate QNT_USDT	+0.0100%	8h	66.120	−1.519%	$213K	$97K	25x	as long as short
MEXC QNT_USDT	+0.0100%	8h	66.130	−1.504%	$2.8M	$1.3M	200x	as long as short
KuCoin QNTUSDTM	+0.0100%	8h	66.110	−1.534%	$669K	$151K	30x	as long as short
Bitget QNTUSDT	+0.0100%	8h	66.150	−1.475%	$1.6M	$352K	75x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin QNT-USDT	+0.0220%	8h	66.120	−1.519%	$190K	$265K	75x	as long as short
BingX QNT-USDT	+0.1156%	8h	66.090	−1.564%	—	$2.4M	—	as long as short