Funding you earn now, next payment 07:00 UTC+0.2726%/8h= +298.5% APRnext payment +$3.41 per $10,000 · paid last 24h −0.182%
Price spread now: QFEX against Paragon−0.575%7-day average −0.010% · 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−$177as in the Price arb table
costs, in and out, $10k−$1211.207% of the position
Funding, last 4 days (all we have)−0.211%−$21 on $10k
+Price spread, last 7 days+0.240%+$24 · spread now −0.575%, 7d avg −0.010%
=Funding pays, the price is against you. QFEX is 0.565% cheaper against Paragon than usual: you would sell low and buy high (spread −0.575% now, against its 7-day average of −0.010%). If the spread goes back, that is −$56 on $10k: about 17 hours of funding at the current rate (+$82 a day). Mind the row above: over the last 4 days funding on this pair cost −0.211%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.211% in total (about -20.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.41 per $10,000. 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 | Paragon para:CIFR | 18.788 | −0.2726 | get 0.0341% / 1h | 18m 40s | $1.0M | $823K | 10x |
| Short | QFEX CIFR-USD | 18.680 | 0 | get 0.0000% / 1h | 18m 40s | $1.2M | $795K | 10x |
Paragon para:CIFR
QFEX CIFR-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against Paragon. 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
- $572.46
- Price spread: −0.575% → −0.010%
- −$56.48
- Slippage, 4 orders
- −$100.74
- Fee Paragon: 5 bp × 2 orders
- −$10
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- $395.24
- Costs to cover
- 1.207%
- Break-even
- 2.2 days
Slippage from Paragon: live order book, 18 min ago; QFEX: live order book, 3 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 Paragon live order book, 18 min ago | 29.08 bp | 34.1 bp −$34 | 152.1 bp −$1,521 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 3 min ago | 5.35 bp | 26.3 bp −$26 | 27.4 bp −$274 | doesn't fit | doesn't fit |
CIFR on 5 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 | |
|---|---|---|---|---|---|---|---|---|
| Paragon para:CIFRlong | −0.2726% | 1h | 18.788 | long leg | $1.0M | $823K | 10x | |
| Bybit CIFRUSDT | 0.0000% | 8h | 18.770 | −0.096% | $83K | $96K | 25x | as long as short |
| QFEX CIFR-USDshort | 0.0000% | 1h | 18.680 | −0.575% | $1.2M | $795K | 10x | |
| Gate CIFR_USDT | 0.0000% | 8h | 18.656 | −0.703% | $56K | $32K | 20x | as long as short |
| HTX CIFR-USDT | 0.0000% | 8h | 18.821 | +0.176% | $1K | $384K | 20x | as long as short |
Bybit CIFRUSDT
Gate CIFR_USDT
HTX CIFR-USDT