Funding arb · Price arb /

BX

RWAall BX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.140%

Price spread now: QFEX against KuCoin+0.737%7-day average +0.264% · 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−$1,085as in the Price arb table

costs, in and out, $10k−$1,13211.318% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.220%−$22 on $10k

Price spread, last 7 days+0.715%+$72 · spread now +0.737%, 7d avg +0.264%

Together, before fees+0.495%+$49 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.473% dearer against KuCoin than usual: you sell high and buy low (spread +0.737% now, against its 7-day average of +0.264%): +$47 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 16 days. At the pace of the last 4 days (−0.220% in total) that is about 7.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BXUSDTM	126.11	0.0100	pay 0.0100% / 8h	3h 46m	$114K	$912K	20x
Short	QFEX BX-USD	127.04	0	get 0.0000% / 1h	46m 42s	$1.1M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against KuCoin. 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 KuCoinbpFee QFEXbpOrdersPrice spread, now +0.737%Rate

Funding earned: −$21
Price spread: +0.737% → +0.264%: $47.3
Slippage, 4 orders: −$1,109.8
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$1,105.5
Costs to cover: 11.318%
Break-even: never at this rate

Slippage from KuCoin: live order book, 33 min ago; QFEX: live order book, 4 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 KuCoin live order book, 33 min ago	13.88 bp	319.1 bp −$319	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	252.27 bp	326.8 bp −$327	328.7 bp −$3,287	doesn't fit	doesn't fit

BX 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
tradeXYZ xyz:BX	−0.0302%	1h	126.20	+0.071%	$664K	$215K	10x	as long as short
Aster BXUSDT	0.0000%	8h	126.20	+0.072%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.25	+0.111%	$484K	$837K	25x	as long as short
OKX BX-USDT-SWAP	0.0000%	8h	126.24	+0.103%	$163K	$112K	20x	as long as short
QFEX BX-USDshort	0.0000%	1h	127.04	+0.737%	$1.1M	$1.5M	10x
Gate BX_USDT	0.0000%	8h	126.37	+0.206%	$422K	$28K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.39	+0.222%	$899K	$37K	20x	as long as short
GRVT BX_USDT_Perp	0.0000%	8h	126.29	+0.142%	$803	$109K	10x	as long as short
SunX BX-USDT	0.0000%	8h	126.25	+0.111%	$607	$317K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.53	+0.333%	$7K	$3K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BXUSDTMlong	+0.0100%	8h	126.11	long leg	$114K	$912K	20x
Injective BX/USDC PERP	+0.0220%	1h	138.74	+10.015%	$4K	$32K	12x	as long as short
Variational Omni BX	+0.0250%	8h	126.24	+0.105%	$43K	$12K	—	as long as short
Binance BXUSDT	+0.0379%	8h	126.24	+0.103%	$777K	$489K	20x	as long as short