Funding arb · Price arb /

BX

RWAall BX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1358%/8h= +148.7% APRpaid last 24h +0.006%

Price spread now: Binance against QFEX−2.978%7-day average +0.104% · 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−$636as in the Price arb table

costs, in and out, $10k−$3283.278% of the position

Long on QFEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.023%−$2 on $10k

Price spread, last 2 days (all we have)+3.175%+$317 · spread now −2.978%, 7d avg +0.104%

Together, before fees+3.152%+$315 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 3.081% cheaper against QFEX than usual: you would sell low and buy high (spread −2.978% now, against its 7-day average of +0.104%). If the spread goes back, that is −$308 on $10k: about 7.6 days of funding at the current rate (+$41 a day).

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.023% in total (about -2.5% 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 BX-USD	130.45	0	get 0.0000% / 1h	48m 25s	$1.2M	$1.3M	10x
Short	Binance BXUSDT	126.57	0.1358	get 0.1358% / 8h	48m 25s	$804K	$455K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −2.978%Rate

Funding earned: $285.17
Price spread: −2.978% → +0.104%: −$308.11
Slippage, 4 orders: −$307.75
Fee QFEX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$350.69
Costs to cover: 3.278%
Break-even: 15.6 days

Slippage from QFEX: live order book, 3 min ago; Binance: live order book, 74 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	77.76 bp	133.4 bp −$133	134.7 bp −$1,347	141.8 bp −$14.2K	doesn't fit
Sell Binance live order book, 74 min ago	1.58 bp	38.1 bp −$38	177.8 bp −$1,778	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
Aster BXUSDT	0.0000%	8h	126.24	−3.224%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.53	−3.005%	$498K	$857K	25x	as long as short
QFEX BX-USDlong	0.0000%	1h	130.45	long leg	$1.2M	$1.3M	10x
Gate BX_USDT	0.0000%	8h	126.71	−2.867%	$426K	$20K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.67	−2.898%	$903K	$44K	20x	as long as short
SunX BX-USDT	0.0000%	8h	126.55	−2.990%	$716	$303K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.68	−2.890%	$7K	$3K	20x	as long as short
Injective BX/USDC PERP	+0.0220%	1h	126.28	−3.197%	$872	$27K	12x	as long as short
OKX BX-USDT-SWAP	+0.0229%	8h	126.49	−3.036%	$163K	$107K	20x	as long as short
tradeXYZ xyz:BX	+0.0446%	1h	126.51	−3.020%	$663K	$180K	10x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BXUSDTM	+0.1007%	8h	126.49	−3.036%	$113K	$1.1M	20x	as long as short
Variational Omni BX	+0.1015%	8h	126.57	−2.975%	$31K	$127	—	as long as short
Binance BXUSDTshort	+0.1358%	8h	126.57	−2.978%	$804K	$455K	20x
GRVT BX_USDT_Perp	+0.2139%	8h	126.56	−2.982%	$848	$122K	10x	as long as short