Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h −0.011%

Price spread now: Bybit against QFEX+0.015%53s7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$720.720% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.024%+$2 on $10k

Price spread, last 7 days−0.019%−$2 · spread now +0.015%, 7d avg +0.035%

Together, before fees+0.005%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.020% cheaper against QFEX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.035%. The two prices were read 53 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	QFEX BE-USD	272.11	0.0040	pay 0.0005% / 1h	58m 41s	$1.3M	$2.4M	10x
Short	Bybit BEUSDT	272.15	0.0040	get 0.0040% / 8h	1h 58m	$2.0M	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against QFEX. 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 QFEXbpFee BybitbpOrdersPrice spread, now +0.015%Rate

Funding earned: $0.12
Price spread: +0.015% → +0.035%: −$2.01
Slippage, 4 orders: −$50.96
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$73.86
Costs to cover: 0.720%
Break-even: 4403.2 days

Slippage from QFEX: live order book, 4 min ago; Bybit: live order book, 3 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 QFEX live order book, 4 min ago	1.65 bp	8.8 bp −$9	14.4 bp −$144	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	3.12 bp	34.8 bp −$35	151.4 bp −$1,514	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
Bitget BEUSDT	−0.0042%	8h	272.28	+0.062%	$1.6M	$2.6M	20x	as long as short
Gate BE_USDT	−0.0001%	8h	272.30	+0.070%	$1.4M	$3.3M	50x	as long as short
Aster BEUSDT	0.0000%	8h	272.56	+0.167%	$342K	$121K	20x	as long as short
Extended BE-USD	0.0000%	1h	272.15	+0.015%	$46K	$253K	10x	as long as short
Binance BEUSDT	0.0000%	8h	272.25	+0.051%	$8.2M	$37.1M	25x	as long as short
OKX BE-USDT-SWAP	0.0000%	8h	272.45	+0.125%	$2.6M	$6.9M	25x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	272.45	+0.123%	$6K	$157K	10x	as long as short
SunX BE-USDT	0.0000%	8h	272.56	+0.165%	$1K	$2.3M	10x	as long as short
HTX BE-USDT	0.0000%	8h	272.61	+0.184%	$13K	$35K	20x	as long as short
Lighter BE	+0.0032%	1h	272.03	−0.029%	—	—	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	272.20	+0.033%	$243K	$297K	10x	as long as short
QFEX BE-USDlong	+0.0040%	1h	272.11	long leg	$1.3M	$2.4M	10x
Arcus BE-USD	+0.0040%	1h	272.06	−0.018%	$114K	$109K	10x	as long as short
Bybit BEUSDTshort	+0.0040%	8h	272.15	+0.015%	$2.0M	$1.1M	25x
Deribit BE_USDC-PERPETUAL	+0.0044%	1h	272.20	+0.033%	$6K	$4K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	272.04	−0.026%	—	—	10x	as long as short
Coinbase International BE-PERP-INTX	+0.0056%	1h	270.59	−0.559%	$473K	$130K	10x	as long as short
tradeXYZ xyz:BE	+0.0088%	1h	272.11	0.000%	$5.9M	$2.8M	10x	as long as short
KuCoin BEUSDTM	+0.0100%	8h	272.13	+0.007%	$368K	$18K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	272.08	−0.010%	—	—	10x	as long as short
BloFin BE-USDT	+0.0120%	8h	272.18	+0.026%	$45K	$146K	20x	as long as short