Funding arb · Price arb /

BRKB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0006%/8h= +0.6% APRpaid last 24h +0.002%

Price spread now: Phemex against QFEX+0.187%7-day average +0.013% · 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−$88as in the Price arb table

costs, in and out, $10k−$1061.057% of the position

Long on QFEX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.058%+$6 · spread now +0.187%, 7d avg +0.013%

Together, before fees+0.062%+$6 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: Phemex is 0.174% dearer against QFEX than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX BRK.B-USD	502.71	−0.0006	get 0.0001% / 1h	15m 05s	$1.1M	$3.1M	10x
Short	Phemex BRKBUSDT	503.65	0	get 0.0000% / 8h	4h 15m	$1.3M	$61K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.187%Rate

Funding earned: $1.16
Price spread: +0.187% → +0.013%: $17.4
Slippage, 4 orders: −$83.7
Fee QFEX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$87.13
Costs to cover: 1.057%
Break-even: 533.2 days

Slippage from QFEX: live order book, 3 min ago; Phemex: 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, 3 min ago	1.79 bp	7.9 bp −$8	9.2 bp −$92	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.38 bp	42.0 bp −$42	doesn't fit	doesn't fit	doesn't fit

BRKB on 14 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
edgeX BRKBUSDC	−0.0853%	4h	503.42	+0.141%	$26K	$249K	10x	as long as short
QFEX BRK.B-USDlong	−0.0006%	1h	502.71	long leg	$1.1M	$3.1M	10x
Aster BRKBUSDT	0.0000%	8h	503.83	+0.222%	$297K	$30K	20x	as long as short
Bybit BRKBUSDT	0.0000%	8h	503.53	+0.163%	$104K	$37K	25x	as long as short
Gate BRKB_USDT	0.0000%	8h	504.10	+0.277%	$528K	$25K	20x	as long as short
Bitget BRKBUSDT	0.0000%	8h	503.67	+0.191%	$367K	$70K	20x	as long as short
SunX BRKB-USDT	0.0000%	8h	503.49	+0.155%	$1K	$1.3M	10x	as long as short
HTX BRKB-USDT	0.0000%	8h	503.84	+0.225%	$7K	$38K	20x	as long as short
Phemex BRKBUSDTshort	0.0000%	8h	503.65	+0.187%	$1.3M	$61K	10x
KuCoin BRKBUSDTM	+0.0100%	8h	504.06	+0.269%	$42K	$1.4M	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BRKB	+0.0149%	8h	503.41	+0.140%	$425K	$18K	—	as long as short
Binance BRKBUSDT	+0.0332%	8h	503.53	+0.163%	$2.6M	$1.5M	20x	as long as short
OKX BRKB-USDT-SWAP	+0.0542%	8h	504.22	+0.300%	$488K	$141K	20x	as long as short
GRVT BRKB_USDT_Perp	+0.1048%	8h	503.47	+0.152%	$3K	$217K	10x	as long as short