Funding you earn now, next payment 11:00 UTC+0.0565%/8h= +61.8% APRpaid last 24h +0.108%
Price spread now: Binance against QFEX+0.072%7-day average +0.026% · 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−$127as in the Price arb table
costs, in and out, $10k−$1311.315% of the position
Funding, last 4 days (all we have)+0.099%+$10 on $10k
+Price spread, last 2 days (all we have)−0.016%−$2 · spread now +0.072%, 7d avg +0.026%
=Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Binance is 0.045% dearer against QFEX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.026%.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.099% in total (about 9.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | QFEX CAT-USD | 816.15 | 0.0072 | pay 0.0009% / 1h | 29m 27s | $1.1M | $3.7M | 10x |
| Short | Binance CATUSDT | 816.73 | 0.0636 | get 0.0636% / 8h | 5h 29m | $448K | $412K | 25x |
QFEX CAT-USD
Binance CATUSDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $118.59
- Price spread: +0.072% → +0.026%
- $4.55
- Slippage, 4 orders
- −$111.5
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$8.36
- Costs to cover
- 1.315%
- Break-even
- 7.5 days
Slippage from QFEX: live order book, 7 min ago; Binance: live order book, 70 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, 7 min ago | 5.70 bp | 16.7 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 70 min ago | 4.60 bp | 58.0 bp −$58 | 186.0 bp −$1,860 | doesn't fit | doesn't fit |
CAT on 5 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Gate CAT_USDT | 0.0000% | 8h | 817.50 | +0.165% | $174K | $22K | 20x | as long as short |
| Bitget CATUSDT | 0.0000% | 8h | 816.40 | +0.031% | $457K | $157K | 20x | as long as short |
| QFEX CAT-USDlong | +0.0072% | 1h | 816.15 | long leg | $1.1M | $3.7M | 10x | |
| Variational Omni CAT | +0.0488% | 8h | 816.68 | +0.065% | $84K | $8K | — | as long as short |
| Binance CATUSDTshort | +0.0636% | 8h | 816.73 | +0.072% | $448K | $412K | 25x |
Gate CAT_USDT
Bitget CATUSDT
Variational Omni CAT