Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0017%/8h= +1.8% APRpaid last 24h +0.009%

Price spread now: QFEX against Bitget−0.039%46s7-day average −0.035% · 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—prices read too far apart to compare

costs, in and out, $10k−$410.414% of the position

Long on Bitget Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now −0.039%, 7d avg −0.035%

Together, before fees+0.033%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.035%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget COSTUSDT	898.34	0	get 0.0000% / 8h	7h 07m	$403K	$111K	25x
Short	QFEX COST-USD	897.99	0.0017	get 0.0002% / 1h	7m 46s	$1.1M	$3.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bitget. 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 BitgetbpFee QFEXbpOrdersPrice spread, now −0.039%Rate

Funding earned: $3.53
Price spread: −0.039% → −0.035%: −$0.43
Slippage, 4 orders: −$19.44
Fee Bitget: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$38.34
Costs to cover: 0.414%
Break-even: 83.1 days

Slippage from Bitget: live order book, 58 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 Bitget live order book, 58 min ago	5.06 bp	15.0 bp −$15	24.6 bp −$246	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	1.11 bp	6.1 bp −$6	11.5 bp −$115	doesn't fit	doesn't fit

COST on 15 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 COSTUSDT	0.0000%	8h	898.32	−0.002%	$45K	$178	20x	as long as short
Bybit COSTUSDT	0.0000%	8h	898.68	+0.038%	$491K	$218K	25x	as long as short
Gate COST_USDT	0.0000%	8h	898.52	+0.020%	$523K	$7K	25x	as long as short
Bitget COSTUSDTlong	0.0000%	8h	898.34	long leg	$403K	$111K	25x
SunX COST-USDT	0.0000%	8h	897.60	−0.082%	$1K	$3.1M	10x	as long as short
HTX COST-USDT	0.0000%	8h	899.74	+0.156%	$10K	$42K	10x	as long as short
QFEX COST-USDshort	+0.0017%	1h	897.99	−0.039%	$1.1M	$3.0M	10x
Injective COST/USDC PERP	+0.0033%	1h	891.98	−0.708%	$2K	$28K	12x	as long as short
Extended COST-USD	+0.0040%	1h	898.25	−0.010%	—	—	10x	as long as short
Vest COST-USD-PERP	+0.0046%	1h	898.00	−0.038%	—	—	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:COST	+0.0050%	1h	897.69	−0.072%	$1.8M	$531K	20x	as long as short
OKX COST-USDT-SWAP	+0.0065%	8h	898.40	+0.007%	$443K	$121K	10x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	897.80	−0.060%	$47K	$860K	20x	as long as short
Variational Omni COST	+0.0294%	8h	898.00	−0.038%	$42K	$17K	—	as long as short
Binance COSTUSDT	+0.0442%	8h	898.15	−0.021%	$1.1M	$948K	20x	as long as short