Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: QFEX against SunX−0.047%7-day average +0.105% · 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−$1,033as in the Price arb table

costs, in and out, $10k−$1,01710.174% of the position

Long on SunX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.102%+$10 · spread now −0.047%, 7d avg +0.105%

Together, before fees+0.100%+$10 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: QFEX is 0.152% cheaper against SunX than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.105%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BX-USDT	126.63	0	get 0.0000% / 8h	7h 51m	$1K	$305K	10x
Short	QFEX BX-USD	126.57	0	get 0.0000% / 1h	51m 04s	$1.1M	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against SunX. 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 SunXbpFee QFEXbpOrdersPrice spread, now −0.047%Rate

Funding earned: $0
Price spread: −0.047% → +0.105%: −$15.21
Slippage, 4 orders: −$999.37
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$1,032.58
Costs to cover: 10.174%
Break-even: never at this rate

Slippage from SunX: live order book, 60 min ago; QFEX: live order book, 5 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 SunX live order book, 60 min ago	50.24 bp	68.2 bp −$68	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	243.78 bp	442.2 bp −$442	442.6 bp −$4,426	449.8 bp −$45.0K	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	126.61	−0.014%	$5K	$868	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.77	+0.111%	$482K	$804K	25x	as long as short
OKX BX-USDT-SWAP	0.0000%	8h	126.64	+0.008%	$164K	$115K	20x	as long as short
QFEX BX-USDshort	0.0000%	1h	126.57	−0.047%	$1.1M	$1.4M	10x
Gate BX_USDT	0.0000%	8h	126.79	+0.126%	$423K	$24K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.73	+0.079%	$901K	$27K	20x	as long as short
Variational Omni BX	0.0000%	8h	126.62	−0.005%	$43K	$12K	—	as long as short
SunX BX-USDTlong	0.0000%	8h	126.63	long leg	$1K	$305K	10x
HTX BX-USDT	0.0000%	8h	126.70	+0.055%	$7K	$4K	20x	as long as short
Binance BXUSDT	+0.0044%	8h	126.61	−0.016%	$772K	$505K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BXUSDTM	+0.0100%	8h	126.62	−0.008%	$110K	$771K	20x	as long as short
tradeXYZ xyz:BX	+0.0160%	1h	126.46	−0.134%	$666K	$257K	10x	as long as short
Injective BX/USDC PERP	+0.0220%	1h	138.74	+9.563%	$4K	$31K	12x	as long as short
GRVT BX_USDT_Perp	+0.0342%	8h	126.67	+0.032%	$827	$102K	10x	as long as short