Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0035%/8h= +3.8% APRpaid last 24h −0.016%

Price spread now: QFEX against Binance−0.062%7-day average −0.025% · 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−$40as in the Price arb table

costs, in and out, $10k−$360.362% of the position

Long on Binance Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.011%−$1 on $10k

Price spread, last 2 days (all we have)+0.067%+$7 · spread now −0.062%, 7d avg −0.025%

Together, before fees+0.056%+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.038% cheaper against Binance than usual: you would sell low and buy high (spread −0.062% now, against its 7-day average of −0.025%). If the spread goes back, that is −$4 on $10k: about 3.6 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BEUSDT	273.30	0	get 0.0000% / 8h	1h 31m	$8.5M	$37.4M	25x
Short	QFEX BE-USD	273.13	0.0035	get 0.0004% / 1h	31m 16s	$1.3M	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Binance. 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 BinancebpFee QFEXbpOrdersPrice spread, now −0.062%Rate

Funding earned: $7.27
Price spread: −0.062% → −0.025%: −$3.75
Slippage, 4 orders: −$16.22
Fee Binance: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$32.7
Costs to cover: 0.362%
Break-even: 38.5 days

Slippage from Binance: live order book, 10 min ago; QFEX: live order book, 7 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 Binance live order book, 10 min ago	0.18 bp	10.0 bp −$10	24.1 bp −$241	105.1 bp −$10.5K	doesn't fit
Sell QFEX live order book, 7 min ago	2.01 bp	9.2 bp −$9	13.3 bp −$133	doesn't fit	doesn't fit

BE on 21 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
Aster BEUSDT	0.0000%	8h	273.20	−0.036%	$344K	$117K	20x	as long as short
Extended BE-USD	0.0000%	1h	273.24	−0.020%	$46K	$270K	10x	as long as short
Binance BEUSDTlong	0.0000%	8h	273.30	long leg	$8.5M	$37.4M	25x
Bybit BEUSDT	0.0000%	8h	273.23	−0.026%	$2.0M	$1.2M	25x	as long as short
Gate BE_USDT	0.0000%	8h	273.00	−0.110%	$1.5M	$3.7M	50x	as long as short
Bitget BEUSDT	0.0000%	8h	273.13	−0.062%	$1.7M	$2.7M	20x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	273.15	−0.056%	$7K	$194K	10x	as long as short
SunX BE-USDT	0.0000%	8h	273.27	−0.011%	$1K	$2.6M	10x	as long as short
HTX BE-USDT	0.0000%	8h	273.38	+0.029%	$13K	$33K	20x	as long as short
Lighter BE	+0.0032%	1h	272.99	−0.113%	—	—	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH BE	+0.0032%	1h	273.22	−0.029%	$249K	$424K	10x	as long as short
QFEX BE-USDshort	+0.0035%	1h	273.13	−0.062%	$1.3M	$3.8M	10x
Arcus BE-USD	+0.0040%	1h	272.95	−0.128%	$114K	$134K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	272.96	−0.124%	—	—	10x	as long as short
Coinbase International BE-PERP-INTX	+0.0064%	1h	272.24	−0.388%	$467K	$121K	10x	as long as short
OKX BE-USDT-SWAP	+0.0065%	8h	273.35	+0.018%	$2.6M	$6.8M	25x	as long as short
KuCoin BEUSDTM	+0.0100%	8h	272.95	−0.128%	$368K	$23K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	273.28	−0.007%	—	—	10x	as long as short
BloFin BE-USDT	+0.0120%	8h	273.23	−0.026%	$45K	$141K	20x	as long as short
tradeXYZ xyz:BE	+0.0169%	1h	273.02	−0.102%	$5.8M	$2.9M	10x	as long as short
Deribit BE_USDC-PERPETUAL	+0.0703%	1h	273.19	−0.040%	$6K	$4K	10x	as long as short