Funding arb · Price arb /

BX

RWAall BX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0257%/8h= +28.2% APRpaid last 24h +0.032%

Price spread now: OKX against QFEX−0.276%7-day average −0.062% · 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−$324as in the Price arb table

costs, in and out, $10k−$3023.024% of the position

Long on QFEX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.032%+$3 on $10k

Price spread, last 4 days (all we have)+0.269%+$27 · spread now −0.276%, 7d avg −0.062%

Together, before fees+0.300%+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.213% cheaper against QFEX than usual: you would sell low and buy high (spread −0.276% now, against its 7-day average of −0.062%). If the spread goes back, that is −$21 on $10k: about 2.8 days of funding at the current rate (+$8 a day). At the pace of the last 3 days (+0.032% in total) that is about 23 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.032% in total (about 3.4% 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	127.02	0	get 0.0000% / 1h	31m 39s	$1.1M	$1.4M	10x
Short	OKX BX-USDT-SWAP	126.67	0.0257	get 0.0257% / 8h	7h 31m	$164K	$111K	20x

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 −0.276%Rate

Funding earned: $54.02
Price spread: −0.276% → −0.062%: −$21.31
Slippage, 4 orders: −$282.36
Fee QFEX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$269.65
Costs to cover: 3.024%
Break-even: 41.9 days

Slippage from QFEX: live order book, 5 min ago; OKX: live order book, 38 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, 5 min ago	2.36 bp	79.2 bp −$79	80.5 bp −$805	86.5 bp −$8,653	doesn't fit
Sell OKX live order book, 38 min ago	5.93 bp	65.7 bp −$66	doesn't fit	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	126.47	−0.436%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.61	−0.323%	$488K	$866K	25x	as long as short
QFEX BX-USDlong	0.0000%	1h	127.02	long leg	$1.1M	$1.4M	10x
Gate BX_USDT	0.0000%	8h	126.72	−0.236%	$425K	$27K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.62	−0.315%	$899K	$43K	20x	as long as short
SunX BX-USDT	0.0000%	8h	126.72	−0.236%	$924	$311K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.70	−0.252%	$7K	$3K	20x	as long as short
Injective BX/USDC PERP	+0.0220%	1h	138.73	+9.219%	$4K	$32K	12x	as long as short
OKX BX-USDT-SWAPshort	+0.0257%	8h	126.67	−0.276%	$164K	$111K	20x
tradeXYZ xyz:BX	+0.0635%	1h	126.50	−0.409%	$666K	$206K	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	+0.1145%	8h	126.46	−0.441%	$112K	$1.1M	20x	as long as short
Variational Omni BX	+0.1310%	8h	126.68	−0.271%	$31K	$127	—	as long as short
Binance BXUSDT	+0.1690%	8h	126.60	−0.331%	$796K	$481K	20x	as long as short
GRVT BX_USDT_Perp	+0.2608%	8h	126.68	−0.268%	$328	$121K	10x	as long as short