Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0017%/8h= −1.8% APRpaid last 24h +0.015%

Price spread now: OKX against QFEX−0.004%7-day average +0.043% · 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−$51as in the Price arb table

costs, in and out, $10k−$460.463% of the position

Long on QFEX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.007%+$1 on $10k

Price spread, last 7 days+0.038%+$4 · spread now −0.004%, 7d avg +0.043%

Together, before fees+0.045%+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.046% cheaper against QFEX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.043%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX BE-USD	270.93	0.0017	pay 0.0002% / 1h	21m 13s	$1.3M	$2.2M	10x
Short	OKX BE-USDT-SWAP	270.92	0	get 0.0000% / 8h	21m 13s	$2.6M	$6.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$3.54
Price spread: −0.004% → +0.043%: −$4.63
Slippage, 4 orders: −$26.28
Fee QFEX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$54.46
Costs to cover: 0.463%
Break-even: never at this rate

Slippage from QFEX: live order book, 6 min ago; OKX: live order book, 2 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, 6 min ago	2.22 bp	8.3 bp −$8	16.0 bp −$160	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	3.14 bp	13.3 bp −$13	67.0 bp −$670	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
Gate BE_USDT	−0.0467%	8h	270.70	−0.085%	$1.4M	$3.3M	50x	as long as short
Bitget BEUSDT	−0.0064%	8h	270.97	+0.015%	$1.6M	$2.6M	20x	as long as short
Aster BEUSDT	0.0000%	8h	270.75	−0.067%	$342K	$128K	20x	as long as short
Extended BE-USD	0.0000%	1h	270.84	−0.034%	$47K	$384K	10x	as long as short
Binance BEUSDT	0.0000%	8h	270.91	−0.007%	$8.1M	$37.2M	25x	as long as short
OKX BE-USDT-SWAPshort	0.0000%	8h	270.92	−0.004%	$2.6M	$6.9M	25x
GRVT BE_USDT_Perp	0.0000%	8h	270.89	−0.014%	$7K	$155K	10x	as long as short
SunX BE-USDT	0.0000%	8h	270.81	−0.044%	$856	$2.3M	10x	as long as short
HTX BE-USDT	0.0000%	8h	270.93	0.000%	$13K	$35K	20x	as long as short
QFEX BE-USDlong	+0.0017%	1h	270.93	long leg	$1.3M	$2.2M	10x

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BE	+0.0032%	1h	270.68	−0.092%	—	—	10x	as long as short
Lighter RH BE	+0.0032%	1h	270.82	−0.041%	$241K	$305K	10x	as long as short
Coinbase International BE-PERP-INTX	+0.0032%	1h	270.40	−0.196%	$472K	$114K	10x	as long as short
Arcus BE-USD	+0.0040%	1h	270.69	−0.089%	$113K	$96K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	270.84	−0.033%	—	—	10x	as long as short
Bybit BEUSDT	+0.0049%	8h	270.98	+0.018%	$2.0M	$1.1M	25x	as long as short
tradeXYZ xyz:BE	+0.0050%	1h	270.81	−0.044%	$5.9M	$2.8M	10x	as long as short
KuCoin BEUSDTM	+0.0100%	8h	270.77	−0.059%	$352K	$27K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	270.78	−0.054%	—	—	10x	as long as short
BloFin BE-USDT	+0.0120%	8h	270.90	−0.011%	$46K	$145K	20x	as long as short
Deribit BE_USDC-PERPETUAL	+0.0710%	1h	270.97	+0.015%	$6K	$4K	10x	as long as short