Funding arb · Price arb /

BOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0320%/8h= +35.0% APRpaid last 24h −0.006%

Price spread now: Bybit against QFEX−0.068%7-day average −0.001% · 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−$259as in the Price arb table

costs, in and out, $10k−$2522.519% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now −0.068%, 7d avg −0.001%

Together, before fees−0.067%−$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.067% cheaper against QFEX than usual: you would sell low and buy high (spread −0.068% now, against its 7-day average of −0.001%). If the spread goes back, that is −$7 on $10k: about 17 hours of funding at the current rate (+$10 a day).

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.003% in total (about -0.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX BOT-USD	29.500	−0.0320	get 0.0040% / 1h	48m 53s	$1.2M	$524K	10x
Short	Bybit BOTUSDT	29.480	0	get 0.0000% / 8h	6h 48m	$467K	$442K	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 −0.068%Rate

Funding earned: $67.2
Price spread: −0.068% → −0.001%: −$6.65
Slippage, 4 orders: −$230.86
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$191.31
Costs to cover: 2.519%
Break-even: 26.9 days

Slippage from QFEX: live order book, 7 min ago; Bybit: live order book, 11 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, 7 min ago	28.80 bp	43.5 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 11 min ago	3.39 bp	80.0 bp −$80	215.6 bp −$2,156	doesn't fit	doesn't fit

BOT 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
KuCoin BOTUSDTM	−0.1885%	8h	29.500	0.000%	$96K	$313K	20x	as long as short
Binance BOTUSDT	−0.1429%	8h	29.511	+0.037%	$454K	$1.2M	10x	as long as short
Variational Omni BOT	−0.1357%	8h	29.510	+0.035%	$31K	$21K	—	as long as short
OKX BOT-USDT-SWAP	−0.1239%	8h	29.530	+0.102%	$235K	$233K	20x	as long as short
QFEX BOT-USDlong	−0.0320%	1h	29.500	long leg	$1.2M	$524K	10x
Bybit BOTUSDTshort	0.0000%	8h	29.480	−0.068%	$467K	$442K	25x
Gate BOT_USDT	0.0000%	8h	29.570	+0.237%	$256K	$240K	20x	as long as short
Bitget BOTUSDT	0.0000%	8h	29.570	+0.237%	$250K	$132K	5x	as long as short
Lighter BOT	+0.0032%	1h	29.673	+0.586%	$68K	$2K	3x	as long as short
Arcus BOT-USD	+0.0040%	1h	29.470	−0.102%	$3K	$9K	5x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:BOT	+0.0050%	1h	29.475	−0.085%	$3.1M	$831K	10x	as long as short
HTX BOT-USDT	+0.0100%	8h	29.557	+0.193%	$3K	$34K	10x	as long as short